The Bank of Russia revoked the license from PJSC ASKO-Insurance … This is stated in the order of the regulator dated December 3.
According to the Central Bank, the company violated the minimum permissible value of the normative ratio of equity (capital) and assumed obligations. The functions of the temporary administration will be performed by the Deposit Insurance Agency.
The company was founded in 1990 in Chelyabinsk as Yuzhural-ASKO. In 2018, she changed her name to the current one. In 2017, the company entered the Moscow Exchange. ASKO-Insurance worked in 35 regions of Russia.
Earlier it was reported that by October 2022 almost 30 banks may disappear from the Russian market. The market may lose eight percent of credit institutions due to lower profits amid changes in the lending market. Over the past year, 45 banks ceased operations.
Of these, 32 – on regulatory grounds, seven organizations voluntarily surrendered their licenses, another six were merged or were acquired by other banks.