This resolution of the National Bank of Ukraine establishes criteria for identifying insurance companies that are critical to the national economy during a special period. The document defines which insurers can be considered critically important for the functioning of the economy and ensuring the vital activities of the population.
Structurally, the resolution consists of 5 points, with the first point being key, which establishes three main criteria for insurers:
1. Compliance with capital solvency requirements
2. Presence of a transparent ownership structure
3. Belonging to the 1st group of social importance according to the NBU classification
The most important provisions for practical application:
– The insurance company must meet all three criteria simultaneously
– Assessment of compliance with the criteria is carried out based on the latest submitted reporting
– The company must comply with capital requirements or have an NBU-approved recovery plan
– The ownership structure must be recognized as transparent by a special NBU decision
The resolution is directly related to the functioning of the economy during a special period and ensuring the needs of the Armed Forces of Ukraine.
