Russian National Reinsurance Company has joined the Federation of Afro-Asian Insurers and Reinsurers.
FAIR is a major professional association not only in the Afro-Asian Region, but also globally. The Federation was founded in 1964 and is currently comprised of 256 insurance and reinsurance companies and brokers from 51 Afro-Asian countries. The key objective of the FAIR is to create insurance and reinsurance pools to enhance the international cooperation and increase underwriting capacity of its members.
According to Mikhail Sepp, Vice President for Business Development of RNRC, accessing FAIR is an important step towards expanding RNRC global presence, which will significantly increase its partnerships in the Afro-Asian Region. According to the Company’s five-year development strategy, its international business is expected to account for 20% of its portfolio by 2021.
Russian National Reinsurance Company Joint-Stock Company was incorporated by virtue of Federal Law no.363-FZ “On amendment of the RF Law “On Insurance Business in the Russian Federation”, by Resolution of the Board of Directors of its sole shareholder, the Central Bank of Russia, which owns 100% of Company shares. Paid-up capital of the Company is 21.3 billion roubles. Reinsurance license ПС no. 4351 dd. 12.10.2016. ACRA Rating is AAA (RU), stable outlook. Fitch rating is BBB- (stable).