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Russia: Insurance sector faces largest ever loss from Achinsk refinery blast

July 11, 2014 - 6:00am

Insurance pay-outs arising from the recent explosion and fire at OAO Rosneft's Achinsk refinery in Krasnoyarsk Territory, Russia, are likely to total around $1 billion as risks were insured for 42 billion Russian rubles ($1.24 billion), reports Forinsurer.

Losses from the event could become the largest in the Russian insurance sector's history. The accident left eight dead and seven injured. SOGAZ Insurance Group has already made some payments related to victims and relatives.

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