Moscow bans all reinsurance from Russia to UK, US, EU carriers
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Moscow bans all reinsurance from Russia to UK, US, EU carriers

Facade of Russian Parliament building in Moscow with emblem of Russia.jpg

Russia’s parliament has banned Russian insurers from ceding any class of risk to reinsurers in “unfriendly states” including the US and UK until 31 December, in Moscow’s latest countermeasure against global sanctions.

The new legislation, which takes effect today, will also ban Russian insurers from ceding to reinsurers across a host of other nations that Moscow deems “unfriendly”, including Australia, Canada and all countries within the European Union, as well as...

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