Translation. Region: Russian Federal
Source: Central Bank of Russia –
An important disclaimer is at the bottom of this article.
The new admission rules take into account the changes made to the Federal Law “On Mutual Insurance Societies” and the Law “On the Organization of Insurance Business in the Russian Federation” and will come into force on September 1, 2025.
The main innovations in the admission procedure were the presence of mutual insurance companies' own funds (capital) and the expansion of requirements for the business reputation of officials, similar to those of insurance organizations: the qualification requirements for managers are similar to the requirements for managers of an insurance organization.
More details about changes— on the website of the Bank of Russia.
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