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International

Russia: Insurer Ingosstrakh to restructure business to improve profitability

August 14, 2014 Reprints

Ingosstrakh Insurance Co. Ltd.'s chief executive, Volkov Mikhail, has said that the Russia-based insurer will be restructuring some parts of its overall business in order to improve profitability, reports Forinsurer.

Mr. Mikhail said the prospects for some sub-segments in the business are not very encouraging. The executive also said the insurer will consider cutting some costs in its 2015 budget because of the weak economic situation in Russia.

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Russia: Insurer Ingosstrakh to restructure business to improve profitability

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