On suspending insurance and reinsurance licences

The Bank of Russia suspended the insurance and reinsurance licences issued to the open joint-stock company Russian Insurance Transport Company (registration number in the unified state register of insurance agents 1852).

The decision is taken due to the insurance agent’s failure to follow Bank of Russia instruction namely its non-compliance with the requirements on financial stability and creditworthiness in terms of building of insurance reserves, procedure and terms of investment of its own funds and insurance reserves. The decision becomes effective the day it is published in a Bank of Russia Bulletin.

Suspended licence of the insurance agent shall mean a prohibition on entering into new insurance contracts, and also on amending respective contracts that might result in the increase of the insurance agent’s existing obligations.

The reference to the Press Service is mandatory if you intend to use this material.

14.04.2015 00.00.00