IC "Classic Life Insurance" will cease to exist in its current form

We would like to inform you that PJSC "Insurance Company "Classic Life Insurance" has considered a proposal from a participant in the Ukrainian insurance market for a joint business consolidation with further strengthening of its positions in the market. The new partnership format will undoubtedly be a successful stage in the company's development, as well as provide partners with unique and mutually beneficial cooperation conditions.

PJSC "IC "Classic Life Insurance" announces that the company's shareholders have decided to temporarily suspend the conclusion of new life insurance contracts from 03/01/2018, in connection with which at this stage of development the company refuses its life insurance license in agreement with the National Financial Services Commission.

PJSC "IC "Classic Life Insurance" continues to fulfill all its obligations under existing insurance contracts to policyholders and partners in full. The company meets the mandatory criteria and standards for capital adequacy and solvency, liquidity, profitability, and asset quality.

Source: Press center of IC "Classic Life Insurance"