On December 16, 2025, the Administrative Court of Cassation within the Supreme Court confirmed the legality of the National Bank's decision to recognize the ownership structure of PrJSC "Insurance Company "INGOSSTRAKH" (EDRPOU 33248430) as non-transparent.
This is stated in the NBU's message, Ukrainian News Agency reports.
In particular, the Supreme Court dismissed the cassation appeal of PrJSC "Insurance Company "INGOSSTRAKH" against the resolution of the Third Administrative Court of Appeal dated December 6, 2023, which confirmed the legality of the decision of the National Bank to recognize the ownership structure of PrJSC "Insurance Company "INGOSSTRAKH" as non-transparent.
The decision of the Supreme Court is final and cannot be appealed.
The National Bank informed PrJSC "IC "INGOSSTRAKH" that from the information on the ownership structure of the insurer it is impossible to identify persons who exercise significant influence over the management or activities of PrJSC "IC "INGOSSTRAKH", since none of the shareholders of the insurer owns 10 percent or more of its shares, and there is also no data on persons who have the ability to exercise an equivalent influence over the management or activities of PrJSC "IC "INGOSSTRAKH" independently of formal ownership.
This is one of the signs of the non-transparense of the ownership structure of insurers. Since the insurance company did not bring the ownership structure into line with the requirements of the legislation of Ukraine, on March 23, 2023, the National Bank canceled the licenses of PrJSC "Insurance Company "INGOSSTRAKH" to conduct economic activities in the provision of financial services, and on March 29, 2023, it excluded the insurance company from the State Register of Financial Institutions.
Non-compliance of the ownership structure of a non-bank financial institution with the requirements of the legislation of Ukraine is grounds for the cancellation of licenses to conduct activities for the provision of financial services in accordance with Article 381 of the Law of Ukraine "On Financial Services and State Regulation of Financial Services Markets".
PrJSC "Insurance Company "INGOSSTRAKH" appealed the above-mentioned decision of the National Bank in court. On September 12, 2023, the Dnipropetrovsk District Administrative Court adopted a decision that fully satisfied the insurance company's claims.
Instead, the Court of Appeal and the Supreme Court confirmed the regulator's legal position.
As Ukrainian News Agency earlier reported, the NBU previously revoked the license of INGOSSTRAKH insurance company due to the non-compliance of the company's ownership structure with the requirements of Ukrainian legislation.
The insurer is linked to the former owners of PrivatBank.
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