CBR revoked the licenses of SK “Moscow” and SC “Europe”

Moscow. July 21. INTERFAX.RU – Bank of Russia order dated July 20, revoked the license for insurance from two insurance companies and two brokers, according to the materials of the regulator.

In particular, the CBR withdrew the license for implementation of voluntary personal and property insurance as well as insurance for insurance joint-stock company “Insurance company “Moscow”.

The license was revoked “due to failure to eliminate the joint-stock company in due time violations of the insurance legislation, namely the failure of the regulations of the Bank of Russia,” reads the order.

As previously reported, the regulator 24 may have suspended those licenses of the company and appointed a temporary administration. Also on the eve of Arbitration court of Moscow region has registered the claim about recognition of SK “Moscow” bankrupt.

SK “Moscow” works since 1991, has branches in 40 cities of Russia. According to the Bank, fees of the insurer for the year 2016 amounted to 1.6 billion rubles, payments – 596,7 million.

JSC “Insurance company “Europe” voluntarily refused a license for insurance.

Also on Friday, the Bank of Russia withdrew the license for implementation of mutual insurance, allied Eseya.”This decision was made in connection with repeated within the year failure to submit to the Bank of Russia of reports stipulated by insurance laws and other Federal laws”, – explained in materials of the Central Bank.

The regulator suspended the license for implementation of insurance of OOO “Insurance company “Moskovia”. The insurer has not fulfilled the requirements of the Central Bank of the Russian Federation – failure to comply with the financial stability and solvency in the conditions of investment of own funds and insurance reserves. The suspension of the license means a ban on the conclusion of insurance contracts. July 21, the company introduced a temporary administration.

OOO “Modern insurance broker “of the Financial system of the business” and “Global insurance broker” voluntarily surrendered a license to conduct insurance brokerage activities.