The National Bank has updated the requirements regarding the solvency and investment activities of insurers in accordance with the new law "On Mandatory Insurance of Civil Liability of Owners of Ground Vehicles" and with the aim of addressing current issues that have arisen during the state of martial law.
This is stated on the regulator's website.
The changes to the regulation specifically include:
"It has also updated certain provisions of the regulation for their clear interpretation during practical implementation," the message states.
The regulation was approved by the decision of the Board of the National Bank of Ukraine on January 2, 2025, No. 1, and comes into effect on January 4, 2025.
Background. Previously, Mind reported that the National Bank updated the Strategy for macroprudential policy, which reflects the consequences of the full-scale invasion of Russia for Ukraine's financial sector, the new challenges faced by macroprudential policy, and the approaches of the National Bank to respond to these new challenges.