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International

Russian central bank withdraws 60 insurers’, brokers’ licenses

March 09, 2018 Reprints

The Central Bank of Russia said that 30 insurers, 30 insurance brokers and one mutual insurance association were delisted from the unified state register of insurance entities in 2017, Xprimm.com reported. The most common reasons for withdrawing the license were bankruptcy, non-compliance with the increased capital requirements, inadequate solvency ratios or non-compliance with the legal reporting obligations. The Russian insurance market included 226 insurers and 71 insurance brokers as of Jan. 1, 2018.

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Russian central bank withdraws 60 insurers’, brokers’ licenses

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