The NBU Updated Solvency Requirements for Insurance Companies

January 1, 2026 the Resolution of the Board of the National Bank of Ukraine No. 154 takes effect updating the requirements for ensuring the solvency of insurers and aligning their investment activities with the Law “On Rating.”

This document introduces new standards for assessing the quality of assets with which insurance companies cover their obligations. The key change lies in the transition to a system of authorized credit ratings, which aims to increase the reliability of the insurance market and harmonize it with European financial regulation norms.

Innovations in the regulation of the insurance market

The main innovations in the regulation of the insurance market include the following provisions:

• A mechanism for using public credit ratings from foreign agencies in Ukraine is introduced, provided they undergo mandatory prior authorization;
• Insurers are granted the right to consider in their investment activities only those ratings determined by national or officially authorized foreign rating institutions;
• The regulator established a one-year transition period to ensure a smooth transition of companies to the new rules for working with credit assessments;
• During the adaptation year, insurers may continue to use current credit ratings of securities issuers even before the authorization of the respective agencies is completed;
• Specific norms of the Solvency Regulation are clarified to eliminate ambiguous interpretations of the rules during their practical application in the market;
• The changes are aimed at accounting for the financial stability of the insurance sector, increasing the transparency of investment portfolios, and creating stable and predictable conditions for protecting the rights of insurance service consumers.

We will closely monitor further developments in this area and will report on them in future Legal News.