Referral programThe state regulator National Financial Services Commission confirmed the high quality of the assets of IC Salamandra-Ukraine
The insurance company "Salamandra-Ukraine" has successfully passed the inspection of the National Commission for State Regulation of Financial Services Markets. During the inspection, the regulator established that the assets covering the insurer's reserves meet the requirements of the legislation.
"We passed the inspection of the National Commission for Financial Services because our assets have always been reliable, and the company has been and remains a leader in the speed of payments under the OSCPV. Now we call on the National Commission for Financial Services to inspect the remaining insurers in order to prevent new bankruptcies in the insurance market due to the companies' lack of funds to pay insurance claims," noted Yuriy Yavtushenko, Chairman of the Supervisory Board of "Salamandra-Ukraine".
In the near future, the National Commission for Financial Services plans to introduce additional requirements for eligible assets to cover reserves. "The assets to cover reserves in our company already fully meet these requirements. The principles of diversification for us are high liquidity and low asset risk," said Yuriy Yavtushenko. According to the results of 2016, 70% of the assets covering the reserves of Salamandra-Ukraine are placed in foreign currency deposit accounts, 19% in real estate, 8% in current accounts in banks.
However, the vast majority of insurance companies in Ukraine have very low asset quality and inadequate valuation. This was repeatedly emphasized in their speeches by representatives of the National Commission for Financial Services. Thus, according to Alexander Zaletov, a member of the National Commission for Financial Services, the assets of only 43 companies meet the new draft requirements for solvency and asset quality. In total, there are more than 300 companies on the insurance market.
"A company that has not ensured its "Liquid and reliable assets cannot guarantee timely insurance payments in full. If Salamandra-Ukraine has passed the audit, then it is probably time to check other companies," Yuriy Yavtushenko emphasized.
Additional information: Salamandra-Ukraine Insurance Company is the leader in payment speed.
