On revocation of insurance licence

By its order No. OD-814, dated 14 April 2015, the Bank of Russia revoked the insurance licence from the closed joint-stock company AVESTA-Med Insurance Company (registration number in the unified state register of insurance agents is 2816).

The decision is taken due to the Company’s failure to timely remove the violations of the insurance legislation regarding the placement of insurance reserves and equity capital that resulted in suspension of the insurance licence (Bank of Russia Order No. OD-348, dated 12 February 2015, ‘On suspending the insurance licence of the closed joint-stock company AVESTA-Med Insurance Company’) and becomes effective the day it is published in the Bank of Russia Bulletin.

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14.04.2015 00.00.00