OREANDA-NEWS. The Bank of Russia revoked the insurance and reinsurance licence from Insurance Company Kupecheskoe, limited liability company (registration number in the unified state register of insurance agents is 2792; registered address is 127287 Moscow, 2nd Khutorskaya Street, 38A, building 9; TIN 5503029968; PSRN 1025500734357).

The decision is taken due to failure committed by Insurance Company Kupecheskoe, limited liability company, to eliminate violations of the insurance legislation in due time, which served as a ground for the suspension of the insurance and reinsurance licences, i.e. failure to properly implement Bank of Russia directions concerning financial stability and solvency. The decision becomes effective as of the day of its publication in the Bank of Russia Bulletin.

Due to the licence revocation, Insurance Company Kupecheskoe, limited liability company, shall be obliged:
- to take a decision on terminating insurance acvitity according to the legislation of the Russian Federation;
- to fulfill obligations arising out of insurance (reinsurance) contracts, and also to pay insurance benefits due for occurred insured events;
- to transfer obligations assumed under insurance (reinsurance) contracts and (or) to terminate such contracts.

Within a month's period from the effective date of the decision on licence revocation, Insurance Company Kupecheskoe, limited liability company, shall notify insured persons on the licence revocation, early termination of insurance (reinsurance) contracts and (or) transfer of obligations assumed under insurance (reinsurance) contracts to another insurer.