FINANCIAL SERVICE MARKETS WATCHDOG REMOVES UIG LIFE FROM REGISTER
Date: 13.12.2016. Section: Press Review, Trends in Insurance, Top
The national commission for financial service markets regulation has removed private joint-stock company Ukrainian Insurance Group Life (UIG, Kyiv) from the unified register of financial institutions, as the company’s license was annulled.
According to resolution No. 3057 dated December 6, 2016, the commission also annulled the company registration certificate.
As reported, the commission received many complaints of insurance service consumers that the company does not implement its liabilities under the life insurance agreements. The commission on August 16, 2016 decided to annul the company’s insurance license.
Shevchenkivske district department of the National Police of Ukraine in Kyiv are investigating into the criminal case related to the fact of causing damage to assets of clients of UIG Life.
The signs of the crime are being investigated under Part 1 of Article 192 of the Criminal Code of Ukraine.
UIG Life was registered in 2003. Its charter capital is UAH 100 million.