UK's insurance sanctions on Russian companies to apply to existing and new business
Sanctions announced last week to bar Russian aviation and space companies from accessing the UK insurance market will apply to both current and new business, according to the Bank of England’s director of risk operations and general insurance Anna Sweeney.
Sweeney made the comments on Tuesday while giving evidence to the House of Lords’ Industry and Regulators Committee, which is conducting an inquiry into commercial insurance and reinsurance regulation
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