FDI is Limited to 49% to Operate in Life and Certain other Classes of Insurance in Russian

Date: 2015-09-07

“• The Russian insurance industry is governed by the Financial Market Access Department of the Bank of Russia.

• FDI is limited to 49% to operate in life and certain other classes of insurance. However, there is no fixed limit for FDI in Russia.

• The Russian Insurance Law was amended on July 23, 2013.

• Composite insurance is prohibited in the Russian insurance industry.

• Non-admitted insurance is not permitted in the country. However, there are a few exceptions to it.”

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