The Global Federation of Insurance Associations (GFIA) has pulled the plug on the membership of the All-Russian Insurance Association (ARIA), as members of the former express their “complete solidarity with the Ukrainian people”.
The GFIA represents insurance carriers that account for a significant 89% of global premiums.
Today, the association has terminated the membership of the ARIA in a reflection of its condemnation of the Russian government’s invasion of Ukraine.
It adds that one of its purposes is to contribute to international conversation on issues of common interest via formalising contact, cooperation, and dialogue among both national and regional insurance associations.
“GFIA’s members wish to express their complete solidarity with the Ukrainian people who are demonstrating incredible strength and bravery in the face of unimaginable adversity,” says the GFIA.
“Insurers around the world are taking the necessary actions to comply with the sanctions that have resulted from the invasion, and many are also taking solidarity initiatives to support the Ukrainian people,” adds the association.
