RUSSIA: 2nd National Reinsurers Summit held on October 3 and 4 in Saint Petersburg

The second international summit of state reinsurers, organized by the Russian National Reinsurance Company (RNRC) with the support of the Bank of Russia, was held on October 3 and 4 in Saint Petersburg, as RNRC announced on its website.

XPRIMM was the media partner of the event which gathered senior executives of national reinsurance companies from Belarus, Romania, Uzbekistan, Namibia, Syria, China, Singapore and India in order to discuss new challenges in the global reinsurance market.

"The Bank of Russia and the insurance community are working to attract international insurers to the Russian insurance market. We believe that the current reinsurance capacity in the Russian market could contribute to a better redistribution of major risks through cessation, inter alia, to Russian reinsurers. Importantly, RNRC is developing a risk competency center and a risk office to improve the risk assessment processes for the whole market," said Vladimir CHISTYUKHIN, Deputy Chairman of the Management Board, Bank of Russia.

Natalia KARPOVA, President and Chairman of the RNRC Board, speaking about the importance of cooperation with international markets, noted that "Every tenth ruble in RNRC's portfolio comes from international markets. The key challenges the company meets in international markets are protection of Russian businesses abroad, expansion of our relationships with colleagues, best practice sharing, and a higher level of in-house expertise".

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