Rus News Journal

94 More insurance companies have lost licences

Federal Agency of insurance supervision (FSSN) has withdrawn licences at 94 insurance companies, is SPK in the MSG of service published on Tuesday on an official site of the Ministry of Finance of the Russian Federation.

corresponding order FSSN has been signed on Monday, on September, 20th.

licences are withdrawn on the basis of changes in the federal law on the organisation of the insurance business, toughened requirements 2 an authorised capital stock of the insurance companies since July, 1st, 2004.

on August, 17th FSSN on the same basis has already withdrawn licences at 151 insurance companies.

representatives of service, making comments then on this decision, declared that some more the companies which have not executed requirements of the legislation, can lose licences.