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Ukrainian insurer shun Russian reinsurers

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Figures from Ukraine's National Commission for the State Regulation of Financial Services Markets show that the country's insurers are increasingly pulling their business from Russian reinsurers.

Reinsurance purchased from Russian firms dropped 42% in the first half of 2014 to 157 million Ukrainian hryvnias ($13.3 million) from the year prior, Interfax reported. Ukraine’s insurers are instead turning to reinsurers in Germany, Austria and France, among others.

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