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Eurasian Reinsurance Company to begin operations in 2023 — Russian official

Aleksey Overchuk underscored the importance of such infrastructure companies

ALMATY, February 3. /TASS/. The Eurasian Reinsurance Company being established by member-states of the Eurasian Economic Union (EAEU) is expected to start operating this year, Deputy Prime Minister of Russia Aleksey Overchuk told reporters.

"The important thing we did last year, and this is like the first fruit, is that we are creating the financial infrastructure for our business, and this is the Eurasian Reinsurance Company in the last year," the official said. "The decision was made and I believe we will launch it this year," Overchuk said.

The official underscored the importance of such infrastructure companies. "Such infrastructure companies required for the functioning of our economies will be created in the first instance," he noted.

In the summer of 2022, the Prime Ministers of the EAEU adopted an agreement on the establishment of the Eurasian Reinsurance Company. The charter capital of the reinsurer will be formed by contributions from EAEU countries and will total 15 bln rubles ($213.2 mln).