Russian central bank establishes reinsurance company
New company will be owned by Bank of Russia and have a total capitalisation of around $1.1 billion
Russia's central bank has decided to establish a National Reinsurance Company (NRC), it has announced. The Bank of Russia said the company's charter has been approved and its supervisory board partially appointed.
The first president of the NRC's board would be Nikolay Galushin, chairman of the private sector insurance group JSC Sogaz, the central bank said. The new company would be wholly owned by the Bank of Russia and have a total capitalisation of 71 billion rubles ($1.1 billion). Of this
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