The national Bank was elected the new head of the Department for supervision over insurance market

В Нацбанке избрали главу нового департамента по надзору за страховым рынком

The national Bank of Ukraine selected the winner in the tender for the position of head of the Department for supervision over the insurance market, he was a former member of the National Commission, carrying out state regulation in the sphere of financial services markets, Olga Maksymchuk.

The winner of the contest was presented during an online briefing of the NBU on the adoption of the regulator from 1 July the authority for regulation of non-Bank financial services in the framework of the law on “split”.

A new unit created as a result of transformation of the organizational structure of the National Bank of Ukraine to ensure effective implementation of the functions for regulation of non-Bank financial services and will supervise insurance companies, specialized reinsurers and insurance intermediaries.

Olga Maksymchuk has twenty years of experience in the insurance business, in 2015-2020 worked as a member of the financial services Commission.

National Bank: Ukraine has more than 2 thousand non-Bank financial institutions

As reported, the Director of the newly established Department of methodology of regulation of activities of non-Bank financial institutions National Bank of Ukraine on the basis of open selection appointed Olga Gurbich, which had previously held the position of member of the financial services Commission.

The Verkhovna Rada adopted the law on “split”, involving the elimination of the national Commission for state regulation of markets of financial services and the division of its functions between the NBU and the national Commission on securities and stock market.

In particular, the national Bank of July 1, 2020 has been mandated to oversee the 1900 financial institutions, including insurance and factoring companies, credit unions, pawn shops and companies providing services to transfer funds.