RUSSIA EBRD
August 1st, 2004
BY KEITH NUTHALLTHE EUROPEAN Bank for Reconstruction and Development (EBRD) is planning to sink US$3 million into buying a 30% equity stake in a new Russian life insurance operation. If Renaissance Life Insurance is successful, it could participate pro-rata in planned capital increases, bringing its total equity investment to US$ 11 million. The initial injection would cover regulatory capital requirements and start-up costs for the company, which will "sell risk-bearing life insurance products to individual customers, mostly through trained agents", said the ...
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