Licensing of insurance activities

According to Article 34 of the Law of Ukraine "On Financial Services and State Regulation of Financial Markets," National Commission, which performs state regulation of financial services markets, within its competence, issues licenses for financial institutions, insurance activities. Licence, which provided for the delivery of the financial services, may not be transferred to third parties.

Necessary documents for registration of a license for insurance activities:

№	Name of Document	Copy/original	Note	Company prepares	Client prepares
1	Application for license
2	A copy of the certificate on state registration of a business entity	Notarized
3	A copy of the certificate of registration in the Unified State Register of Enterprises and Organizations of Ukraine	Notarized
4	Copies of constituent documents	Notarized
5	Certificate banks to confirm the size of the share paid by the fund or the auditor's auditor confirming the formation and size of the paid statutory fund
6	Information about the financial status of the founders of insurer, confirmed by an auditor (audit firm) if the insurer established in the form of full or limited partnership or additional liability and joint-stock company
7	The rules (conditions) of insurance
8	The economic rationale for the planned insurance (reinsurance) activities
9	Information about participating insurer
10	Information about the executive chairman and his deputy, to be signed by the head of insurer beat and stamped, a copy of the diploma executive chairman of insurer or his first deputy of the higher economic or legal education, a copy of the diploma of chief accountant of the insurer higher economic education, sealed, and the relevant insurer signature
11	Information on the availability of relevant certificates in cases stipulated by the Financial Services Commission
12	Approved in accordance with established procedure rules for the internal financial monitoring
13	A certified copy of the applicant to appoint an employee responsible for conducting internal financial monitoring, information management officials or professionals who are responsible for conducting financial monitoring