New NBU capital requirements will be violated by about 40% of insurance companies - Rozhkova
Kyiv • UNN
About 40% of Ukrainian insurers may not comply with the NBU's new capital rules in 2024, but they will have six months to comply.
Currently, about 40% of Ukraine's insurance companies will not meet the new, stricter capital and solvency requirements starting in 2024. Companies will be given six months to bring their operations into compliance. This was announced by the First Deputy Governor of the National Bank (NBU) Kateryna Rozhkova during the presentation of the financial stability report, reports UNN correspondent.
"We have developed and will soon approve new capital requirements. This is a new capital structure and new solvency requirements. It should be noted that we plan to give insurance companies six months to bring their activities in line with the new requirements, as currently about 40% of insurance companies, according to our estimates, will not meet these new, stricter capital and solvency requirements," Rozhkova said.
According to her, six months will be enough time to bring their activities into compliance.
In addition, Rozhkova said that the NBU plans to assess the quality of insurance companies' assets next year to make sure that insurance companies correctly reflect the value of assets in their balance sheets.
Addendum
In the NBU's December financial stability report, it says that banks have stepped up lending to businesses and households.
