“• 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.”
