The first phase created national reinsurance company will only work with the risk of sanctions, and later be made mandatory cession, which suggested the Central Bank, according to sources the newspaper “Vedomosti”.
MOSCOW, 28 Oct. The question of compulsory transfer in assign 10% perestraivaya risks in National reinsurance company (NPC) is not removed from the agenda, the discussions will continue after the establishment of the company, wrote in a Wednesday newspaper Vedomosti.
According to sources, mandatory assignment will be, but with a delay. In the first phase the created RPC will only work with the risk of sanctions, but in future will be provided, as suggested by the CBR, mandatory cession.
Earlier, the President of the Russian Union of insurers Igor Yurgens said that in the government on the issue of CDD, it was decided that gospertstrasse will be created, the law will be adopted soon, but about 10% of assignment will be cancelled. The representative of the Secretariat first Deputy Prime Minister Igor Shuvalov, however, told the publication that the discussion on the transfer in assignment 10% perestraivaya risks will continue. “We are creating the Institute of fiscal sovereignty, this process is not one month or even one year,” he said.
Deputy Finance Minister Alexey Moiseev in turn told the newspaper that following the meeting in the government on the issue of CDD was tasked to bring the bill to the government until 6 November.
Another source reports that in an upcoming version of the bill grants will not be written anything, but later may be given an assignment to the company soon expanded its sphere of activities not only on sanctions risks.
Officials believe that the Central Bank should carefully consider the economic business model of state-owned companies. Initially it was assumed that the CPP will only reinsure part of the risk that sanctions commercial insurers may not transfer abroad. The creation of such a company supported by the insurers. But to the surprise of the market, the Central Bank has proposed not to limit the risk of sanctions, the newspaper said.
