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Ukraine: Regulator to suspend licenses of some insurers

May 19, 2014 - 6:00am

The State Commission for Regulation of Financial Services Markets of Ukraine (Natskomfinuslug) has said it will strengthen its supervisory activities in the coming months, reported Forinsurer.

In a few months' time, the regulatory body will suspend or revoke the licenses of around 10% of insurers, the regulator's acting head said.

The regulator, which aims to remove problematic players in the market, has also dismissed reports that it has a list that categorizes insurers as white, gray and black.

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