OREANDA-NEWS. December 22, 2015. By its Order No. OD-3648, the Bank of Russia suspended the insurance licence of Invest-Garant Insurance Company, limited liability company (registration number in the unified state register of insurance agents 3650).

The decision is taken due to the insurer’s failure to duly meet the Bank of Russia instruction, particularly, a failure to remove violations of financial stability and solvency requirements with regard to securing equity capital and insurance reserves with admissible assets. The decision becomes effective the day it is published in the Bank of Russia Bulletin.

The suspension of licence prohibits the insurance agent from entering into new contracts of insurance and introducing amendments resulting in increase in insurance agent’s obligations under the current contracts.

The insurance company must accept notifications of claim and meet its obligations.