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Asnova Insurance CJSC Licence Terminated

According to the results of the control and supervision of the activities of insurance companies in the local insurance market of the Republic of Belarus, the Ministry of Finance informs of the following:

The Close Joint-Stock Insurance Company “Asnova Insurance” applied to the Ministry of Finance of the Republic of Belarus with a request to terminate the special permit (licence) for carrying out insurance activities No. 02200 / 13-00050. As per Regulations on licensing certain types of activities, approved by Decree No. 450 “On licensing certain types of activities” as of 1 September 2010; Resolution of the Council of Ministers of the Republic of Belarus No. 1585 as of October 31, 2001 "On issues of the Ministry of Finance of the Republic of Belarus", the Ministry of Finance of the Republic of Belarus decided to terminate from 12 September, 2017 the validity of the licence issued to the Closed Joint-Stock Insurance Company “Asnova Insurance” as a special permit to perform insurance business No. 02200 / 13-00050 (entered into the Register of the Ministry of Finance of the Republic of Belarus, July 18, 2008, under No. 13-00050). During the termination of the licence, the Closed Joint-Stock Insurance Company “Asnova Insurance” shall assign the obligations under voluntary insurance agreements earlier negotiated with other insurance organizations or to terminate such contracts (except for the cases of insurance indemnity payments) and return to the Insured a part of the insurance premium on the pro rata temporis basis. At the same time, the insurance company must fulfill the obligations for insurance indemnity payments that arose before the termination of voluntary insurance contracts. By agreement with the Ministry of Finance of the Republic of Belarus, the Closed Joint-Stock Insurance Company “Belneftestrakh” was granted the right to accept the obligations of the Closed Joint-Stock Insurance Company “Asnova Insurance” under the voluntary insurance agreements negotiated earlier.

http://minfin.gov.by

23 September 2017
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