By its Order No. OD-1469, dated July 10, 2025, the Bank of Russia has revoked the license of Limited Liability Company 'INSURANCE COMPANY HATHOR' (LLC IC HATHOR) to provide compulsory motor third-party liability insurance (CMTPLI) services. The license was initially granted on December 28, 2023.
The decision was made in accordance with Subclause 3 of Clause 2 of Article 32.8 of Law No. 4015-1, dated November 27, 1992, 'On the Organisation of Insurance Business in the Russian Federation'. It was found that LLC IC HATHOR violated the statutory minimum equity-to-liabilities ratio established by the Bank of Russia under Clause 4.1 of Article 25 of Law No. 4015-1. This violation posed a threat to the rights and legitimate interests of policyholders, insured persons, and beneficiaries.
The statutory minimum ratio is set at 1.0 for insurers’ financial resilience requirements. However, LLC IC HATHOR's ratio persistently declined from January to May 2025 — from a value of 0.75 as of January 31 to a value of 0.31 as of May 31.
Additionally, LLC IC HATHOR had previously violated insurance legislation requirements and had been subject to measures outlined in Paragraph 3 of Subclause 2 of Clause 2 of Article 32.5-1 over one year.
This decision took effect immediately upon adoption.
In a related move through Order No. OD-1470, also dated July 10, 2025, the Bank appointed a provisional administrator for six months starting from July 10, 2025.
The State Corporation Deposit Insurance Agency will perform these duties by exercising executive powers within LLC IC HATHOR and identifying creditors while keeping records of their claims.
Despite this revocation decision concerning LLC IC HATHOR’s license status change or termination option availability with CMTPLI contracts—policyholders can expect compensation payments from RAMI when necessary due primarily because damage arises involving life/health/property under issued policies before expiration dates occur naturally without interference elsewhere regarding other matters needing resolution beyond usual circumstances anticipated already existing therein presently still applicable now too!
For requests about early termination or any other issues related directly towards matters involving them specifically hereafter soon thereafter quickly enough whenever possible if required eventually then please send letters addressed accordingly: "3 Ilyich Avenue Donetsk" located at postal code "283001" within district boundaries belonging uniquely identified separately named differently yet distinctly called simply put "Donetsk People’s Republic."
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