Participants of a two day summit in Moscow hosted by the Russian National Reinsurance Company have announced their decision to join forces as a ‘National Reinsurers Network’.
“Top managers” from GIC (India), China Re, VINARE (Vietnam), Dunav Re (Serbia), Triglav Re (Slovenia), Europa Re (Switzerland), Bimeh Markazi (Iran), NITF (Sri Lanka), and BNPO (Belarus) are those said to have joined the RNRC in this so-called National Reinsurers Network.
Purposes of the network include the development of direct business relations between national reinsurance companies; enlarging the geographic scope and opportunities for reinsurance placements; obtaining information on key changes in the national markets of NRN members countries; and information exchange on new products sold in the markets.
“In the rapidly changing political situation, the world economy and the global reinsurance market, the pooling of efforts and cooperation between national reinsurers is one of the key conditions for supporting local insurance markets in emerging economies,” said Nikolay Galushin, President of RNRC.
“That is why we considered it possible and interesting to bring together all interested national reinsurance companies with purpose to discuss possible ways of cooperation.”
