Russian National Reinsurance Company, Joint-Stock Company, was set up pursuant to Federal Law No. 363-FZ dated July 3, 2016 on amendment of the Law on Insurance Business in the Russian Federation by the Resolution of the Board of Directors of its sole shareholder, the Central Bank of Russia that owns 100% of Company shares.
The purpose of RNRC is declared in the Law and includes protection of property interests and financial stability of Russian insurers. For us it means promoting growth and development of both the insurance market and national economy as a whole. This is a reason why RNRC strives to become a centre of professional competencies and deep expertiseNikolay Galushin, RNRC President
According to the Resolution of the Bank of Russia, the authorized capital of RNRC is 71 billion RUB. At present, 30% has been paid up — 21.3 billion RUB.
The governing body of the Company is the Board, acting according to the Regulation on Management Board.
RNRC has a License covering reinsurance only and does not compete with direct insurers.
Federal Law No. 363-FZ dated July 3, 2016 on amendment of the Law on Insurance Business in the Russian Federation obliging all Russian insurers to cede 10% of ceded risks under insurance contracts to RNRC will come into effect from January 1, 2017.
The Russian Analytical Credit Rating Agency (ACRA) assigned the AAA (RU) credit rating with the stable outlook to the Russian National Reinsurance Company (RNRC).
June, 06 2017 Fitch Ratings-London has assigned RNRC an Insurer Financial Strength (IFS) rating of 'BBB-'. The Outlook is Stable.
May 12, 2017 the Supervisory Board of RNRC approved the company's development Strategy to 2017 – 2021
July, 21 2017 RNRC has got the Chinese market watchdog's approval to operate as a foreign reinsurer on the China's specialty market.
August, 21 2017 RNRC was granted a license to operate in Egypt.
September, 13 2017 RNRC has joined the Federation of Afro-Asian Insurers and Reinsurers (FAIR).
September, 27 2017 Fitch Ratings-London improved the rating outlook for RNRC from stable to positive and affirmed its BBB- Insurer Financial Strength (IFS) rating.
You can download the Presentation about RNRC using the links below.