AM Best becomes latest to move away from Russia

AM Best becomes latest to move away from Russia | Insurance Business America

AM Best becomes latest to move away from Russia

Another day, another major industry name distancing itself from Russia.

“AM Best has suspended all commercial activities to clients in Russia and has withdrawn all credit ratings on Russia-based (re)insurance companies, subject to sanctions imposed by the European Union (EU) and in advance of the EU’s April 15, 2022, deadline,” announced the global credit rating agency that specializes in the field of insurance.

“In addition, AM Best has terminated the provision and redistribution of all information products and services to clients in Russia with immediate effect.”

The credit rating giant does business in more than 100 countries.