Human Dynamics has been awarded a major EU financed project in Russia to further develop the Insurance Sector. From February 2008 the Team will be working over the next 24 months with the Russian Ministry of Finance, Federal Service for Insurance Supervision and the All Russia Insurance Association to further develop the Insurance Sector in line with international standards, whilst reforming the financial sector and improving the business and investment climate
The project “Development of the Insurance Sector” will be in line with current and future agreements on the Common Economic Space between the EU and Russia. Specifically the project will address the following key issues:
- The enhancement of the regulation of the insurance sector by the Ministry of Finance (MOF);
- Enhancing supervision of the insurance sector by the Federal Service for Insurance Supervision;
- Supporting the All Russian Insurance Association in their efforts to develop a competitive insurance sector;
- Assisting insurance companies in the transition to the International Financial Reporting Standards and in the application of corporate governance best practice.