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Russia: Central bank mulling support for insurers hit by reinsurance shortage

August 20, 2014 - 6:00am

SOGAZ Insurance Group's chairman Sergei Ivanov has said that the Russian central bank is discussing options to support insurers in the country who have been affected by a lack of reinsurance capacities, Forinsurer reported citing Interfax.

One of the possibilities being considered is the creation of a state reinsurer, but no plans have been decided so far, Mr. Ivanov said.

The industry is concerned about the impact of Western sanctions on the insurance Russian market.

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