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International

Seven reinsurers, insurers licenses suspended

June 05, 2015 Reprints

The Bank of Russia has moved to suspend the licenses of seven insurance and reinsurance companies, according to the website of the financial regulator.

The insurers, which were not named, were targeted because they “do not comply with the requirements of financial stability and solvency of the formation of insurance reserves, procedure and conditions of investment assets,” the bank said.

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Seven reinsurers, insurers licenses suspended

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