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Bank of Russia, Finance Ministry to appraise insurance companies in 2014

The Bank of Russia stepped up supervision over commercial banks and will now check the reliability of private pension’s funds

MOSCOW, November 12, 11:25 /ITAR-TASS/. Russia's Finance Ministry jointly with the Bank of Russia are drawing amendments to the insurance legislation, and plan to hold appraisal of insurance companies in 2014, First Deputy Prime Minister Igor Shuvalov said at a session of the Russian part of the intergovernmental Russian-British committee on trade and investment on Tuesday.

"The Bank of Russia and the Ministry of Finance are preparing certain amendments to legislation," Shuvalov said. "We shouldn't do anything to provoke a fuss on the market or cause unnecessary expectations."

He added that the state would deal with private pension funds in the first place.

The Bank of Russia stepped up supervision over commercial banks and will now check the reliability of private pension’s funds, the first deputy prime minister went on. Measures will be taken against those that have no real assets. In this connection, Shuvalov underlined that in 2014, the Bank of Russia will handle the insurance market together with the Finance ministry, but that it "will be doing it calmly.

Russia has significant amount of West’s funds in case of confiscation of its assets

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A spokesman for the Israel Defense Forces declined to comment on the reports of the strike

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Swiss parliament votes against joining task force on frozen Russian assets

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Kiev continues to openly announce terrorist attacks on Russia — diplomat

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Colombian president displays interest in country’s entry into BRICS

Brazilian leader Luiz Inacio Lula da Silva welcomed Gustavo Petro’s initiative, "being committed to promotion of Colombia’s candidacy"

Founder of neo-Nazi cell in Crimea flees to Georgia — source

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US 'not forgetting' to help itself with aid to Ukraine — Kremlin

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Water in Kurgan above dam, breaking records

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Three Ukrainian soldiers swim across Dnieper to surrender to Russian troops — governor

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Fox News said the Jewish state delivered a limited strike on Iran

Final statement by G7 top diplomats to call for supplying more air defenses to Kiev

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Israel to not take responsibility for attack on Iran — newspaper

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