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Russian reinsurer receives license to operate in Egypt

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Russia-based National Reinsurance Co. has received the Egyptian Financial Supervisory Authority's approval to operate as a foreign reinsurer on the local specialty market, Xprimm.com reported. The firm is entering the Egyptian market as part of its strategic objective of portfolio diversification. It is looking to enter the Eurasian Economic Union, Commonwealth of Independent States countries, Eastern Europe, Latin America, North Africa, Middle East and Asia-Pacific regions.

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