EconomyThe Central Bank outlined the way of recognition of...

The Central Bank outlined the way of recognition of insurance from Russia abroad

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The building of the Central Bank of the Russian Federation in Moscow. archive photo

Central Bank paved the way for Russian insurance and reinsurance to be recognized abroad

MOSCOW, November 29 – RIA Novosti. The Bank of Russia has determined a way for the recognition of insurance and reinsurance abroad from the Russian Federation, in particular, the issue of the assessment of insurance companies by Russian rating agencies will be studied, according to a statement prepared by the Central Bank. project “Main directions for the development of the financial market of the Russian Federation for 2023-2025”.

Earlier on Tuesday, speaking at the Russia-China Energy Business Forum, Deputy Transport Minister Alexander Poshivai said that shipowners in the Russian Federation are faced with situations where China refuses to recognize insurance documents issued by Russian insurers and the Russian National Reinsurance Corporation (RNRC). ).

“To solve the problem of recognition of the quality of Russian insurance and reinsurance protection (abroad – ed.), the issue of recognition of Russian rating agencies and the establishment of market-level interaction with reinsurers from friendly countries will be studied out,” says the document.

The regulator explained that there are difficulties in recognizing the quality of insurance and reinsurance protection offered by Russian insurance companies and RNPK by counterparties in friendly countries due to the lack of credit ratings of international credit rating agencies for Russian insurance and reinsurance companies.

Source: Ria

Emma
Emma
I am Emma Sickels, a highly experienced journalist specializing in news and economy. As an author at News Unrolled, I cover the latest trends in the economic sector and provide readers with valuable insights into its complexities. My work has been featured in various media outlets such as The New York Times, USA Today, Bloomberg Businessweek and many more.

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