By KYIV. Sept 4 (Interfax-Ukraine) – The National Bank of Ukraine (NBU) has excluded PrJSC Colonnade Ukraine insurance company (formerly QBE Ukraine, Kyiv) from the list of insurers entitled to carry out operations with non-resident reinsurers.
As reported on the website of the regulator, the decision was made on September 1, 2023. The company was listed on August 7, 2023. Currently, 23 Ukrainian insurance companies out of 114 operating in the market have the right to carry out operations with non-resident reinsurers.
As reported, from February 13, 2023, the NBU expanded the possibilities of insurance companies to pay insurance premiums under reinsurance agreements concluded with non-resident reinsurers, and clarified the requirements for such operations.
Thus, since February 14, insurers, insurance and reinsurance brokers have been able to make payments under the relevant agreements without restrictions on the date of conclusion of such agreements, subject to the fulfillment of a number of conditions.
In order to simplify the procedure for making payments for reinsurance abroad, the National Bank created a list of insurers and established a decision-making procedure for including an insurer in the relevant list and exclusion from it, as well as the grounds for leaving the application without consideration.
PrJSC Colonnade Ukraine was founded in 1998 as the first international insurer in the Ukrainian market.
