Russia: Central Bank stopped active cleaning of the insurance sector

First deputy chairman of the Central Bank of Russia Sergey SHVETSOV during XVI International conference of All-Russian Insurance Association announced that the period of active cleaning of the insurance sector was completed and now is mostly voluntary.

"What I want to say is that now we recall much less 2016 we recalled licenses every week, but today recalling is mostly voluntary which means the end of active cleaning", noticed SHVETSOV. According to him the main target of the Central Bank is ensuring of competitive environment and high solvency level in the insurance industry.

Based on the annual report of the Bank in 2017 total number of insurance entities in Russia decreased by 15.1% and on January 1, 2018 amounted to 309.

Follow XPRIMM Publications on LinkedIn, for more data on the insurance and financial industry.

Share |

Related articles


Stefan STAVROSITU appointed Sales Director of GROUPAMA's Romanian unit

Groupama Asiguraari, the Romanian arm of the French group and of the leading players on he ocal market, has announced the appointment of Stefan STAVROSITU as National Sales Director, replacing Julien RAMILLION who, after holding this position for four years, will receive other responsibilities.



LIVE: IIS Global Insurance Forum 2018 / Day2

The works of the Global Insurance Forum continued today in Berlin, Germany. Providing security for ageing populations in health care and pensions terms, as well as innovation and InsurTech or innovative strategies for the future development of the industry are on the today's agenda.


See all