Insurance licence of LLC IC HATHOR revoked
By its Order No. OD-1469, dated 10 July 2025, the Bank of Russia revoked licence to provide compulsory motor third party liability insurance (CMTPLI) services No. 4404‑03, dated 28 December 2023, of Limited Liability Company ‘INSURANCE COMPANY HATHOR’ (Registration No. 4404 in the Unified State Register of Insurance Agents; hereinafter, LLC IC HATHOR).
The Bank of Russia made this decision in accordance with Subclause 3 of Clause 2 of Article 32.8 of Law of the Russian Federation No.
- violated the statutory minimum equity-to-liabilities ratio established by the Bank of Russia in accordance with Clause 4.1 of Article 25 of Law No.
4015-1, thus threatening the rights and legitimate interests of policyholders, insured persons, and beneficiaries. The statutory minimum ratio is 1.0 according to the requirements for insurers’ financial resilience. The ratio value of LLC IC HATHOR was persistently declining in 2025 — from 0.75 as of 31 January 2025 to 0.31 as of 31 May 2025; and - had previously violated insurance legislation requirements and thus had been subject to measures stipulated by Paragraph 3 of Subclause 2 of Clause 2 of Article
32.5-1 of Law No.4015-1 and applied by the Bank of Russia over the course of one year.
The decision came into force immediately upon adoption.
By its Order No. OD-1470, dated 10 July 2025, the Bank of Russia appointed a provisional administrator to manage LLC IC HATHOR for six months starting from 10 July 2025.
The functions of a provisional administrator were assigned to State Corporation Deposit Insurance Agency that will exercise the powers of the executive bodies of LLC IC HATHOR, identify its creditors, and keep record of their claims.
Following the revocation of LLC IC HATHOR’s licence, the existing CMTPLI policies will remain valid until their expiration dates.
The Russian Association of Motor Insurers (RAMI) will make compensation payments for damage to life, health, or property of victims under CMTPLI policies issued by LLC IC HATHOR. The information on the procedure for receiving compensation is available in the ‘Compensation Payments’ section of the RAMI’s website at www.autoins.ru.
Due to the revocation of LLC IC HATHOR’s licence, policyholders may terminate their CMTPLI contracts early. In this case, policyholders will receive a partial refund of their insurance premiums minus CMTPLI administration costs and contributions to the compensation reserve fund, proportional to the remaining term of the insurance policy or the remaining period of vehicle use.
For requests regarding early termination of CMTPLI contracts or other matters related to LLC IC HATHOR, please send you letters to the following address: 3 Ilyich Avenue, Donetsk 283001, Donetsk Urban District, Donetsk People’s Republic.
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