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Seven insurers leave Ukraine's insurance market in Nov
KYIV. Dec 7 (Interfax-Ukraine) – In November 2022, one insurance company voluntarily left Ukraine’s insurance market, and six more insurers were forced to do that, while one insurance broker was included in the register, according to the website of the National Bank of Ukraine (NBU).
In general, the number of participants in the nonbank financial market in November decreased from 1,572 (as of October 31) to 1,522 (as of November 30).
As of November 30, its participants were 117 non-life insurers (in October there were 124) and 13 life insurers (the number has not changed), 187 pawnshops (190), 166 credit unions (173), 806 financial companies (839), 63 insurance brokers (62) and 67 collection companies (the number has not changed).
The NBU also notes that 21 financial companies, one insurer, one pawnshop and six credit unions have all licenses revoked voluntarily (based on their applications), and 17 financial companies, seven insurers and three pawnshops have been forcibly revoked (as a measure of influence).
In addition, some of the licenses of six financial companies have been revoked voluntarily, and some of the licenses of five financial companies and one insurer have been revoked forcibly.
In November, the licenses of three financial companies and one leasing company were suspended. At the same time, licenses were renewed for 15 financial companies and six pawnshops.
The number of banks has not changed and is 67.
In addition, 24 banking groups and 23 nonbank financial groups are recognized in the market.
There are 38 national payment systems operating in the payment market, including state ones, and 16 international payment systems.
In November, the NBU received 403 requests from market participants for registration and licensing actions. The number of inquiries about financial companies, pawnshops and lessors was 267. The number of inquiries about credit institutions (banks and credit unions) is 53, insurers – 74, and payment institutions – nine.
