Global insurance industry will feel “substantial impact” from Russian invasion of Ukraine

Global insurance industry - Globe - fracture

AM Best has released a forecast regarding the effect the invasion is expected to have worldwide. The Russian invasion of Ukraine is expected to have a “substantial impact” on the global insurance industry, according to a forecast by AM Best. The invasion is expected to add to the already existing inflationary pressures economies worldwide are facing. The AM Best rating agency recently announced that the global central banks’ efforts, joined by those of the United States Federal Reserve, for controlling inflation will face additional challenges due to Russia’s invasion of…

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Russian insurance marketplace showing signs of strength

Moscow Business District

A.M. Best releases special report regarding improvements in the Russian marketplace. According to a report released by A.M. Best, within the international insurance industry, the Russian sector is a young one, faced with significant overcrowding and competition and yet, regardless of these notable challenges, it is maintaining a trend of radical changes. The name of this special report was “Russia’s Insurance Revolution Begins to Gain Pace”. It focuses on the low penetration of coverage within the country, even when there is a small amount of risk factors, or none at…

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