Report: Cbanker sees amount of Russian insurers down in 2016

MOSCOW, Apr 19 (PRIME) -- The amount of insurance companies in Russia may contract significantly until the end of 2016, Central Bank Chairwoman Elvira Nabiullina said in an interview to Rossiya 24 television channel broadcast Tuesday.

“We are implementing a policy of toughening of regulation and oversight at the market of insurance companies,” she said, adding that a significant contraction of insurers is possible in 2016 “if companies take insufficient measures.”

Last year, the central bank revoked licenses from more than 60 insurance companies. This year, the authority said that about 130 insurers out of 330 are in the risk zone taking into account their assets and liabilities.

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