OREANDA-NEWS. By its Order No. OD-2689, dated 7 October 2015, the Bank of Russia suspended the insurance licence of joint-stock company Life Insurance Company Dostoinstvo (registration number in the unified state register of insurance agents is 4247).

The decision is taken due to the insurer's failure to execute a Bank of Russia instruction, namely, due to its non-compliance with the requirements of financial sustainability and solvency, with the procedure and conditions of investing capital and insurance reserves. The decision becomes effective the day it is published in the Bank of Russia Bulletin.

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

The insurer shall accept applications on the occurrence of insured events and perform its obligations.