Operations of provisional administration to manage LLC Retail and Corporate Insurance Company Limited

The provisional administration¹ of LLC RICS, (thereafter, the Company) has established facts suggesting that the Company’s former management and officials performed offence aimed at siphoning off corporate assets.

As the Bank of Russia reasonably presumes that the Company’s officials were engaged in financial operations suggestive of criminal offence, the Bank of Russia submitted relevant information to the Prosecutor General’s Office of the Russian Federation and the Investigative Committee of the Ministry of Internal Affairs of the Russian Federation for consideration and procedural decision-making.

¹ According to Bank of Russia Orders No. OD-2174 and No. OD-2175, dated 25 December 2020, an insurance licence was revoked from LLC RICS and a temporary administration was appointed.

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13.05.2021 00.00.00