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AEB representatives spoke at the 24th Annual Reinsurance Conference


On November 25-26, Moscow hosted the 24th annual international reinsurance conference, which focused on trends in the global reinsurance market in the context of the COVID-19 pandemic, changes in the financial landscape and international insurers access to the Russian market.

Active discussion took place during the 2nd Plenary session "Admission to the market of branches of foreign insurers", organized by the Insurance and pension insurance Committee of the Association of European Business and the International insurance law Association (AIDA). 

The participants  noted that the terms proposed by the draft law for opening branches to foreign insurers in August 2021 do not simplify the market access  for foreign companies, and the provisions of the draft law may conflict with the content of Russia's national obligations when joining the WTO in 2011.

Since 2018, the AEB Insurance and pension Committee has been actively involved in public discussions on this topic and calls for a balanced solution that takes into account the best international practices of insurance supervision over the  branches of foreign insurers and the needs of the Russian insurance market development.

On the part of the AEB, the Plenary session was supported by the Chairman of the Committee Alexander Lorenz, CEO of Zurich  insurance JSC Marina Sotova, and the Chairperson of the national section of the International insurance law Association Capitolina Tourbina.