The National Commission of state regulation of the financial services market

The National Commission of state regulation of the financial services market

14.07.2016 News

allianz_ukraineThe National Commission, carrying out state regulation of the financial services market by its order №1467 agreed to increase participation by Allianz Holding eins GMBH (Austria) in ODO «Allianz Ukraine” (Kiev) to 99.999% by direct acquisition of 99.978% from its share capital. 

As reported, at the beginning of this year, the National Commission, carrying out state regulation of the financial services market had planned to revoke the license for insurance activity IC «Allianz Ukraine” in connection with a decisive influence on its activities “IC” Allianz “(Russian Federation), which owns 99.978% of its share capital.

However, on April 12, the commission canceled this order, by the decision of the State regulatory services to satisfy the appeal of the insurance company, which announced the completion of the transfer of parts of the authorized capital and the registration of new representatives – shareholders Allianz in Austria and in the Netherlands in early March.

It should be noted that the National Commission, carrying out state regulation of the financial services market, had planned to cancel 29 “of Allianz Ukraine” licenses of insurance companies (20 – for the implementation of voluntary insurance and nine – for the implementation of compulsory insurance), license of IC “Garantia Life” on the implementation of voluntary life insurance, and 23 licenses of the insurance company “Guta – Ukraine” (17 – for the implementation of voluntary insurance, and six – for the implementation of compulsory insurance).

Insurance company «Allianz Ukraine” was registered in 2002. Since 2005 the company is part of the international financial holding company Allianz, provides services to corporate and private clients throughout Ukraine.

Read more: Ukraine has canceled the registration of foreign investments

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