By its Order No. OD-210, dated 26 January 2016, the Bank of Russia suspended the insurance licence of the closed joint-stock company AKOMS Insurance Company (registration number in the unified state register of insurance agents is 455).
The decision is taken due to the insurer's failure to duly execute a Bank of Russia instruction, namely, due to its non-compliance with financial sustainability and solvency requirements to the non-compliance with financial sustainability and solvency requirements in terms of securing insurance reserves, procedure and conditions to invest capital and insurance reserve funds. The decision becomes effective the day it is published in the Bank of Russia Bulletin.
Suspended licence shall mean a prohibition on entering into new insurance contracts and also on amending respective contracts resulting in increase in the existing obligations.
The insurance agent shall accept applications on the occurrence of insured events and perform obligations.
Central Bank of Russia issued this content on 26 January 2016 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 27 January 2016 08:24:28 UTC
Original Document: http://www.cbr.ru/eng/press/PR.aspx?file=27012016_110656eng_sbrfr2016-01-27T11_03_52.htm
