ВАЖЛИВО! Робота ТДВ "Альянс Україна" пiд час карантину. Детальнiше

Appeal process on Allianz Ukraine licenses continues

26.1.2016

Today, 26th of January 2016, the Expert Appeal Council of State Regulatory Authority (SRA) voted to postpone the consideration of appeal of Allianz Ukraine on the decision of Natzkomfinposlug to withdraw Allianz Ukraine’s licenses No 3530 dated 31.12.2015.

As Allianz previously announced, the insurance regulator Natzkomfinposlug applied the law “On licensing of economic activities” literally and considered Allianz Ukraine a Russian-controlled company. The grounds for appeal were based on the fact that the ultimate beneficiary of Allianz Ukraine is actually Allianz SE (Germany). Furthermore, Allianz has signed a sales-purchase agreement on January 14th 2016 which transfers direct ownership of the Allianz Ukraine shares to Allianz entities domiciled in the European Union. At the moment we are going through approval procedures required by Ukrainian law with the purpose to rapidly finalize the share transfer and register the new shareholders.

The next session of the Council will take place at the end of February (exact date to be announced).  According to the law “On licensing of economic activities” the decision of Natzkomfinposlug to withdraw Allianz Ukraine’s licenses will not come into force until SRA has reached a final decision and the conclusion of the appeal process. Therefore, all licenses of Allianz Ukraine remain valid without any interruption. Allianz will present proof of completion of the share transfer and of the registration of the new shareholders to the Council as soon as the respective approvals have been received. Finally, this would lead to cancellation of Natzkomfinposlug’s decision.

Andrey Muzhuk, CEO of Allianz Ukraine, comments: “Allianz remains committed to the Ukrainian market and looks forward to continuing to insure and service international and local clients alike. We understand that SRA is considering this matter carefully. We received full support and understanding from SRA and we will use the time granted to ensure the earliest completion of the share transfer”.