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International

Munich Re leaves Russia due to deteriorating economy

July 14, 2015 Reprints

Munich Reinsurance Co. has ceased operations in Russia and said that it will continue to serve Russian customers directly from Germany, Forinsurer reported citing newspaper Vedomosti.

The reinsurer said that the move comes as a result of the relatively narrow market of the Russian Federation with a poor economy, low quality risks and no prospects to improve performance.

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Munich Re leaves Russia due to deteriorating economy

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