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15:23
FINANCIAL SERVICES MARKETS WATCHDOG CANCELS PROMIN INSURER'S LICENSE

Kyiv, July 28 (Interfax-Ukraine) – The State Commission for Regulating the Financial Services Markets of Ukraine on July 23 decided to cancel the license and certificates of CJSC Promin insurance company (Ivano-Frankivsk) and strike it from the state register of financial establishments, the commission has told Interfax-Ukraine.

As reported, Promin insurer in 2008 saw a net loss of UAH 18.759 million, which was 8.8 times up year-on-year. The company's income in 2008 was UAH 2,000. The statutory capital of the company is UAH 120 million.

Promin insurance company was registered in 2002. Its core business is risk insurance.

According to the State Commission on Securities and the Stock Market, the company's shareholders are Intelecs advocatory bureau (73.3415%) and Dekra Ltd. financial company (13.0417%, both based in Ivano-Frankivsk).

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