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International

Russia bans insurance transactions with “unfriendly states”

March 16, 2022 Reprints

Russian President Vladimir Putin has reacted to Western economic sanctions by passing a law that prohibits Russian insurers from ceding any risks to insurers and reinsurers from “unfriendly states” until Dec. 31, Reinsurance News reported. With this, Russian insurers are banned from doing any transactions with insurers, reinsurers and brokerages from the U.S., the U.K., Japan, Switzerland and all the European Union countries.

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Russia bans insurance transactions with “unfriendly states”

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