NBS statement regarding the interim measure issued on 9 September 2020
On 25 September 2020 Národná banka Slovenska (NBS) issued a press release providing details about an interim measure issued against the insurance undertaking which was formerly called NOVIS Poisťovňa, a.s. and which since 5 April 2019 has operated under the name NOVIS Insurance Company, NOVIS Versicherungsgesellschaft, NOVIS Compagnia di Assicurazioni, NOVIS Poisťovňa a.s. (hereinafter ‘the insurance company’). A subsequent press release concerning the same interim measure was issued on 16 February 2020.
NBS hereby announces that the NBS Bank Board, acting as an appellate body, has issued a decision on an appeal lodged by the insurance company against the decision on the interim measure of 9 September 2021. As part of its decision, the Bank Board has partially revoked the decision on the interim measure so that, with effect from 12 February 2021, the insurance company is no longer prohibited from concluding new unit-linked insurance contracts in the cases stated in the interim measure.
The Bank Board upheld the rest of the decision on the interim measure (in force since 11 September 2020). In consequence, the insurance company remains obliged to do the following: invest all premiums received from clients after its receipt of the decision on the interim measure to the extent stipulated in the respective insurance contracts; and send NBS on a regular basis the data that NBS requires in order to monitor the situation at the insurance company.
The operative parts of the original decision on the interim measure and the Bank Board’s decision on the appeal against that measure are published on the NBS website at: https://nbs.sk/dohlad-nad-financnym-trhom-prakticke-informacie/vyroky-pravoplatnych-rozhodnuti/rozhodnutia-detail/vyrok-rozhodnutia/_8710b989-fdec-4fba-a569-acd800adf7dc
National Bank of Slovakia
Imricha Karvasa 1, 813 25 Bratislava, Slovak Republic
Tel.: +421-2-5787 2142, +421-2-5865 2142, +421-2-5787 2169, +421-2-5865 2169
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