The BRICS for the establishment of a reinsurance company

The five countries Brazil, Russia, India, China and South Africa (BRICS) are intending to set up a reinsurance company that would allow them to become better involved in the insurance of large risks of emerging countries.
Photo credit: Atlas magazine

The BRICS also want to overcome sanctions imposed by the United States and Europe on Iran whose oil exports are vital to India and other countries. This project was revealed in September after the launch of another project pertaining to the BRICS Development Bank for which the five States have decided to contribute with a capital of 50 billion USD.

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