This morning's Amcham Interfax Morning News email includes the following news (see below) - by indicating there is a problem, but not indicating which company is in trouble, he discredits the whole market - in this situation , it's better to investigate the situation before saying anything...
"FINANCIAL SERVICES MARKET REGULATOR'S HEAD CLAIMS LARGEST INSURER FACES PROBLEMS
Kyiv, June 7 (Interfax-Ukraine) - Head of the State Commission for regulating financial services markets Vasyl Volha says he is concerned about the situation at one of the country's largest insurance companies.
"What I am afraid of is that, according to the information I get, one of the most popular and largest companies could face the same situation as Veksel [a joint-stock insurance company that stockholders have decided to liquidate]," he said at a meeting with insurance companies' directors organized by the League of the Insurance Organizations of Ukraine.
According to Volha, he plans to gather information about the company, and if his concerns are borne out, he will be obliged to report in two weeks to the president and prime minister of Ukraine about the situation that may occur on the insurance market.
He also said that his commission had started inspecting large insurance companies and the first returns of the inspection show that "the situation at the companies is not easy and may lead to the fact that the companies' individual clients may suffer."
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