The Law of the Russian Federation On Organisation of Insurance Business in the Russian Federation and certain other legislative acts are being amended to establish the procedure and conditions for admitting foreign insurance (reinsurance) organisations that are members of the World Trade Organisation to the Russian insurance market.
The Federal Law is aimed at fulfilling commitments undertaken by the Russian Federation upon its accession to the Marrakesh Agreement Establishing the World Trade Organisation of April 15, 1994 (Protocol of December 16, 2011).