The National Bank of Ukraine has applied two enforcement measures against LLC "European Insurance Alliance" (EDRPOU 19411125) — one of the oldest insurers in the country, founded back in 1994. The total amount of fines came to 2,529,705 UAH.

What was violated and how much it costs

The main fine — 2,400,000 UAH — was imposed for violating the requirements of the Law of Ukraine "On Insurance" and the Regulations on Authorization of Financial Service Providers (NBU Board Resolution No. 199 of December 29, 2023). These are new rules that came into effect following the non-banking supervision reform: companies are required to comply with authorization conditions at all organizational levels, including internal controls, reporting, and contract conclusion procedures.

The second fine — 129,705 UAH — was for violations of the rules for preparing and submitting reports to the NBU. This is already a confirmed pattern: in December 2025 and earlier, the company received separate sanctions from the regulator specifically for violations of deadlines for submitting regulatory files.

Who is this company

"European Insurance Alliance" is not an obscure one-day operation. The company has been operating on the market for over 30 years, holds 23 NBU licenses for various classes of insurance, including CASCO, motor third-party liability, medical and property insurance. Its reliability is confirmed by a uaAA rating from "Standard-rating" — the highest level of financial stability among domestic insurers. The authorized capital is 55 million UAH.

That is why violations of authorization requirements look not like a sign of company instability, but as a systemic problem of adaptation to new regulatory standards.

Context: NBU is tightening screws across the entire market

"European Insurance Alliance" was on the NBU's schedule for routine inspections in the fourth quarter of 2025 — along with "KD Life," "Nadiyina," and "Veles." Fines for authorization violations have become a trend: similar sanctions were received by "BBS Insurance" (2.51 million UAH), "Interexpress" (1.6 million UAH), "KD Life" (2.74 million UAH).

"The NBU is increasingly responding strictly to such violations. Internal controls are no longer perceived as a formality — it is actually a point of focus during inspections."

— Forinsurer, industry analysis of the non-banking supervision market

According to LIGA.net, in 2025, almost every second bank on the market fell under NBU fines — 26 out of 59, and the total amount of fines reached 426.2 million UAH, which is 23% more than in 2024. The insurance sector is following the same path.

What does this mean for clients

A fine does not mean either suspension of licenses or threats to payments under existing policies. However, violations of authorization standards are a signal of defects in the company's internal procedures: how it maintains a register of contracts, how it reports to the regulator, how management-level control is organized. For a client, this is not an immediate risk, but a marker of management quality.

The company is obligated to pay both fines within one month from the date the decisions take effect.

If "European Insurance Alliance" does not eliminate systemic violations before the next routine inspection, the NBU has the authority to move from fines to requiring the elimination of violations or even to license revocation — this is exactly how the regulator acted with 9 insurers in 2024.