The American Chamber of Commerce in Ukraine welcomes the adoption of the National Bank of Ukraine (NBU) Board Resolution #242 “On Amendments to Resolution #18 of the NBU Board dated February 24, 2022” (Resolution) dated December 9, 2022.
With the adoption of this Resolution, the NBU allowed insurers to make insurance payments under reinsurance contracts concluded with nonresidents after confirming compliance with the requirements established by the NBU. This will ensure that insurers comply with their obligations to clients and international partners that arose as of May 31, 2022 and preserve the continuity of the insurance market of Ukraine.
At the same time, AmCham member companies’ experts emphasize the importance of further easing of currency restrictions for insurers to comply with obligations to third parties that arose after the indicated deadline. Compliance with this condition is a guarantee of stable solvency and financial stability of Ukrainian insurers.
