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Russian insurance industry consolidates

Posted On: Jul. 12, 2019 6:21 AM CST

Russian insurance decline

Russia's statistics service said that the total number of local insurers has fallen 41% to 231 over the past five years, reported. Alexey Bredikhin, director of Russia-based Analytical Credit Rating Agency, said that the insurance sector is likely to consolidate further this year while insurers look to close inefficient branches to cut expenses.

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