On suspending insurance licence

By its Order No. OD-1156, dated 26 May 2015, the Bank of Russia suspended the insurance licence of the Insurance Company KOMESTRA, limited liability company (registration number in the unified state register of insurance agents 1922).

The decision is taken due to the failure of Insurance Company KOMESTRA, limited liability company, to execute Bank of Russia instructions, namely, due to noncompliance with the requirement to financial sustainability and solvency with respect to securing insurance reserves and capital with admissible assets, and due to non-submission of documents at Bank of Russia requests. The decision becomes effective the day it is published in the Bank of Russia Bulletin.

Suspended licence of the insurance agent shall mean a prohibition on entering into insurance contracts, and also on amending respective contracts resulting in increase in the existing obligations of the insurance agent. The insurance agent shall accept applications on the occurrence of insured events and perform its obligations.

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26.05.2015 00.00.00