OREANDA-NEWS. January 26, 2016. By its Order No. OD-152, the Bank of Russia suspended the insurance licence of the Insurance Company Diamant, limited liability company (registration number in the unified state register of insurance agents 1363).

The decision is taken due to the failure of the insurance agent to properly meet Bank of Russia instructions, i.e. failure to comply with financial stability and solvency requirements with regard to the procedure and conditions for investing equities and insurance reserves. The decision becomes effective the day it is published in the Bank of Russia Bulletin.

The suspension of the insurance agent’s licence means a ban on concluding insurance agreements and on making amendments to the respective agreements leading to increased liabilities of the insurance agent.

The insurance company is obliged to accept applications on insured events and honour its obligations.