OREANDA-NEWS. September 22, 2015. By its Order No. OD-2456 the Bank of Russia suspended the insurance licence of Novy Vek Insurance Company (registration number in the unified state register of insurance agents is 3745).

The decision is taken due to the insurer’s failure to duly meet the Bank of Russia instruction, namely the non-compliance with the requirements of financial sustainability and solvency with respect to securing insurance reserves, on the procedure and terms of investing its capital and insurance reserves. The decision shall become effective the day it is published in the Bank of Russia Bulletin.

Suspended licence of the insurance agent shall mean a prohibition on entering into insurance contacts, and also on amending respective contracts resulting in increase in the existing obligations of the insurance agent.

The insurance company shall accept notifications of claim and perform obligations.