The Central Bank revoked the license from the insurance company

The Central Bank revoked the license from VSK-Mercy

excluding voluntary life insurance. The corresponding order appeared on the website of the Central Bank.

According to the regulator, the company abandoned its licensed activities. VSK-Mercy was registered on February 1, 2005.

Earlier, the Bank of Russia revoked the insurance license from PJSC ASKO-Insurance.

According to the Central Bank, the company violated the minimum the value of the normative ratio of equity (capital) and assumed obligations. In 2017, she entered the Moscow Stock Exchange. ASKO-Insurance worked in 35 regions of Russia. The functions of the temporary administration there will be performed by the Deposit Insurance Agency.

Earlier it was reported that by October 2022 almost 30 banks may disappear in Russia. The market may lose eight percent of credit institutions due to reduced profits amid changes in the lending market. Over the past year, 45 banks ceased operations.