How international reinsurance associations work

There are examples of supranational reinsurance associations in the world. “In the European Union, according to principles very close to those described in the draft agreement on the establishment of the Eurasian Reinsurance Company (EPK), the so-called European joint-stock companies (European companies) operate. As in the EPC, their legal status is based on an international act, and national law is applied only to the extent that the relevant issues are not regulated at the international level or by the company’s charter,” says Anton Imenov. Africa Re, a reinsurance company established by African states, has been supporting national risk reinsurance markets for decades. “The company is located in a rather specific region with a high level of political turbulence, but it fulfills its tasks, while not limiting the ability of national insurers to work with reinsurers from third countries,” adds the interlocutor of Kommersant in the insurance market.

Diana Galieva, Oleg Sapozhkov