EPC (Eurasian Reinsurance Company)

Company

Insurance
Since 2022
Russia
Belarus
Kazakhstan
Armenia
Kyrgyzstan

Owners:
Government of the Russian Federation - 45%
Government of Belarus - 30%

Content

2023: Russia's share in EPC became known - 45%
2022: The heads of government of the EAEU countries signed an agreement on the establishment of the company
Notes

Owners

+ Government of the Russian Federation

+ Government of Belarus

2023: Russia's share in EPC became known - 45%

On April 11, 2023, the Russian share in the reinsurance company became known EEU - it is 45%. The share Belarus in the authorized capital of the company is 30%, reported in. CENTRAL BANK OF THE RUSSIAN FEDERATION

As the regulator notes, the Eurasian Reinsurance Company (EPC) is created to insure export supplies and risks that cannot be reinsured in developed countries. It is assumed that the Eurasian reinsurance company will provide insurance support in mutual and foreign trade to the participants of the EAEU countries, stimulate the development of investment cooperation, provide export loans and interaction with credit agencies and insurers.

Russia's share in EPC is 45%

In March 2023, the Government of the Russian Federation submitted for ratification to the State Duma an agreement on the establishment of a Eurasian reinsurance company. EPC is an international financial organization that is created in order to stimulate mutual and foreign trade, the implementation of joint cooperation projects and investments of the Eurasian Economic Union (EAEU), supplementing the functionality of export credit agencies of the EPC member states at the supranational level, the explanatory note says.

The EPC agreement and charter, which is an integral part of the agreement, regulate the status, goals and directions of activity, location, issues of tax and financial regulation, the management and decision-making system of the EPC management bodies, shares in the capital of the parties and other issues of regulatory regulation. The agreement was developed in the format of a multilateral international treaty that allows the EPC to have an open status for new members of an international organization and a subject of international law to join.^[1]

2022: The heads of government of the EAEU countries signed an agreement on the establishment of the company

In August 2022, the heads of government of the EAEU countries signed an agreement on the establishment of the Eurasian Reinsurance Company (EPC) - Chairman of the EEC Board Mikhail Myasnikovich. According to him, the EPC is designed to stimulate mutual and foreign trade, the implementation of joint cooperation projects by increasing the insurance capacity and professional risk management throughout the EAEU.

Notes

↑ The Russian share in the EAEU reinsurance company has become known

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