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Russian central bank to create regional center in Crimea to oversee insurers

April 24, 2014 - 6:17am


Russia's central bank has decided to set up a regional center in Crimea to oversee insurers, Forinsurer reported citing Interfax.

The Bank of Russia has already made plans for a supervisory system to oversee small regional insurers across Russia. Meanwhile, an internal central bank department will oversee the activities of the 100 largest insurers. This department comprises two units, one of which will monitor the top 20 insurers, while the other one will monitor the rest.

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