Oil and gas revenues accounted for nearly half of Russia’s federal government budget last year
The insurer’s chief executive, however, ‘remains confident’ in its combined ratio guidance for 2022
The group’s chief financial officer says it has stopped writing all new insurance business for Russia
Frictional costs in the capital are still too high, despite credit rating agency listing market positives
The broker saw a 3% dip in its revenue compared to the same period last year as a result
In March, the Treasury banned UK insurers and reinsurers from serving Russian firms
The broker estimates sanctions and its compliance with them will adversely impact its full year 2022 brokerage segment annual revenues by up to $10m
Although the proposed change could save £55 a year, this could lead to more unsafe cars on the road which could subsequently increase insurance premiums
The Russia-Ukraine war has put pressure on the insurance market
Businesses should focus on their resilience to cyber attacks as acts of war are excluded from cyber insurance cover
Market trends are expected to exert a ’neutral influence’ on London market firms