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AXA withdraws from the board of directors of the Russian insurance company Reso Garantia

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Magazine Issue: 
Insurance in Africa, a reshape dynamic [3]
Magazine date: 
Mar 2022

AXAIn accordance with the international sanctions against Russia, the AXA Group has decided to withdraw its board members from Reso Garantia, a Russian insurer in which it holds a minority stake of less than 40%. It should be noted that the French insurer has no operational or management control over this company.

AXA has also ceased to underwrite new insurance business and halted all renewals on Russian-owned assets. The French group has also stopped all new investments in Russian assets.

Read also | Insurers and reinsurers called upon to cease business with Russian companies [4]

Tue, 29/03/2022 - 16:00

Source URL: https://www.atlas-mag.net/en/article/axa-withdraws-from-the-board-of-directors-of-the-russian-insurance-company-reso-garantia

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