OREANDA-NEWS. By its Order No. OD-2554, dated 24 September 2015, the Bank of Russia restricted the licence to carry out compulsory motor third party liability insurance of the closed joint-stock company AIG Insurance Company (registration number in the unified state register of insurance agents 3947).

This decision was taken due to the company's failure to meet Bank of Russia instruction and becomes effective the day it is published in a printed media.

The restriction of the insurer's licence prohibits the company from concluding certain contracts or insurance and reinsurance, and introducing amendments resulting in increase in insurer's obligations under the current contracts. The insurance company must accept notifications of claim and meet its obligations.