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Generali severs ties with Russian insurer Ingosstrakh

Written by Adam Cadle
04/03/2022

Generali is resigning from positions held on the board of the Russian insurer Ingosstrakh, in which it holds a minority investment stake of 38.5%, it has announced.

In a statement published on its website, Generali said, as a result, it has “no influence on its operations”.

In addition, the Italian insurer said its “minor exposure” to the Russian market in terms of investments and insurance business is “under constant evaluation” and “fully compliant with all applicable sanctions”.

It will also close its Moscow representative office.

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