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Whether you are an insurer, broker, reinsurer or insured party, you face an increasingly unpredictable world. From day-to-day operational matters to strategic planning, liability and disputes resolution, policy drafting, coverage and regulatory issues, your world is changing rapidly as tougher capital and risk requirements impact your business. With 100 specialist lawyers in 33 countries, we are attuned to your commercial interests and can protect them in your home market and across borders. Our approach is based on strong local legal knowledge delivered to you on a European-wide basis by experts who truly understand the insurance sector.

Many of our lawyers have worked in the insurance sector which means we understand the complexities of your markets. Whether you require guidance on claims, regulation policy drafting, wider business disputes, M&A, capital raisings and restructurings, cyber liability, HR, tax, real estate or commercial issues, our multi-disciplinary specialists can help you. We have a recognised domestic and cross-border track record of delivering for clients on the most complex transactional and advisory engagements in this sector. Equally, In the event of a domestic or cross-border insurance or reinsurance dispute, we can guide you through the disputes process, striving to secure the best business outcome.


Rus­si­an counter-sanc­tions: an in­sur­ance per­spect­ive
On 14 March 2022, a new law was pub­lished as a part of the Rus­si­an re­sponse to sanc­tions im­posed by for­eign states. Law No. 55-FZ* af­fects a num­ber of areas in­clud­ing in­sur­ance and re­in­sur­ance.Para­graph 2 of Art­icle 3 of the Law provides that, un­til 31 Decem­ber 2022, Rus­si­an in­surers can­not enter in­to con­tracts with in­surers, re­in­surers and in­sur­ance brokers res­id­ent in un­friendly states, and with in­surers, re­in­surers and in­sur­ance brokers con­trolled by res­id­ents of un­friendly states. Ac­cord­ing to Pres­id­en­tial De­cree No. 95* dated 5 March 2022 and Gov­ern­ment Res­ol­u­tion No. 430-r* dated 5 March 2022, the list of un­friendly states in­cludes the US, EU, UK, Aus­tralia, Canada, Ja­pan and a num­ber of oth­er coun­tries.The Law fur­ther provides that Rus­si­an in­surers can­not trans­fer money to any of the above en­tit­ies un­der con­tracts con­cluded pri­or to the ef­fect­ive date of the Law (14 March 2022). Such trans­fers as well as new con­tracts can only be made in ex­cep­tion­al cases sub­ject to a Cent­ral Bank per­mit. By ac­ci­dent or not, Rus­si­an in­sur­ance com­pan­ies, re­in­sur­ance com­pan­ies and brokers con­trolled by for­eign in­vestors are also sub­ject to this ban.There could be the fol­low­ing im­plic­a­tions for in­surers in­clud­ing Rus­si­an in­surers and re­in­surers con­trolled by for­eign in­vestors:They will not be able to place re­in­sur­ance through brokers based in or con­trolled by res­id­ents of un­friendly states or Rus­si­an sub­si­di­ar­ies of in­ter­na­tion­al brokers even if the risk ends up in a friendly state.Rus­si­an in­surers con­trolled by res­id­ents of un­friendly states will be ad­di­tion­ally hit by the in­ab­il­ity to ac­cept new re­in­sur­ance busi­ness from Rus­si­an in­surers.As it will not be pos­sible to trans­fer any re­in­sur­ance premi­ums to or by these “un­friendly” in­surers, re­in­surers and brokers, ex­ist­ing re­in­sur­ance policies could be ter­min­ated leav­ing the in­sureds without suf­fi­cient in­sur­ance and re­in­sur­ance pro­tec­tion.Also, trans­fers of re­in­sur­ance or ret­ro­ces­sion share of any loss to these en­tit­ies would not be pos­sible.Cus­tom­ers of Rus­si­an in­sur­ance com­pan­ies could also face neg­at­ive con­sequences, such as:An in­surer may re­fuse to enter in­to an in­sur­ance con­tract be­cause its own re­ten­tion lim­its will be ex­ceeded and it will not be able to trans­fer the risk abroad or to a Rus­si­an sub­si­di­ary of a for­eign “un­friendly” in­surer.New risks as­sumed by Rus­si­an in­surers can­not be trans­ferred un­der ex­ist­ing treat­ies to for­eign “un­friendly” in­surers or their Rus­si­an sub­si­di­ar­ies (no re­in­sur­ance premi­ums can be paid), the risks will re­main on their own re­ten­tion or will be trans­ferred to com­pan­ies with low rat­ings. If an in­sured event oc­curs, there is a high risk of bank­ruptcy for Rus­si­an in­surers as they are un­able to trans­fer the risk to highly-rated re­in­surers, there is also a high risk of not re­ceiv­ing the in­sur­ance in­dem­nity.There could be a breach of pro­vi­sions in loan agree­ments re­quir­ing in­sur­ance/re­in­sur­ance policies to be is­sued by reput­able com­pan­ies with high in­ter­na­tion­al rat­ings (tech­nic­al de­fault with all its con­sequences). Some activ­it­ies will be at risk of stop­page (e.g. air trans­port) due to in­ab­il­ity to re­in­sure high risks in for­eign com­pan­ies loc­ated in un­friendly coun­tries.The Law provides for a pos­sib­il­ity to ob­tain a spe­cial per­mit from the Cent­ral Bank “in ex­cep­tion­al cases”.  It re­mains to be seen how will­ing the Cent­ral Bank will be to is­sue them as there is no pro­ced­ure or timeline for the is­su­ance.* In Rus­si­an
The Mo­scow of­fice of CMS to con­tin­ue as an in­de­pend­ent law firm
Dear FriendsWe have been through a lot dur­ing 30 years in Rus­sia. Now a dif­fi­cult de­cision has been taken by CMS to leave the Rus­si­an mar­ket. We are grate­ful to our in­ter­na­tion­al col­leagues for their...
Leg­al de­vel­op­ments that may af­fect your busi­ness in 2022
CMS Rus­sia ex­perts have pre­pared their an­nu­al se­lec­tion of the most sig­ni­fic­ant leg­al de­vel­op­ments that may af­fect your busi­ness in Rus­sia in 2022.
CMS Next
What’s next? In a world of ever-ac­cel­er­at­ing change, stay­ing ahead of the curve and know­ing what’s next for your busi­ness or sec­tor is es­sen­tial.At CMS, we see ourselves not only as your leg­al ad­visers but also as your busi­ness part­ners. We work to­geth­er with you to not only re­solve cur­rent is­sues but to an­ti­cip­ate fu­ture chal­lenges and in­nov­ate to meet them.With our latest pub­lic­a­tion, CMS Next, our ex­perts will reg­u­larly of­fer you in­sights in­to and fresh per­spect­ives on a range of is­sues that busi­nesses have to deal with – from ESG agen­das to re­struc­tur­ing after the pan­dem­ic or fa­cing the di­git­al trans­form­a­tion. We will also share with you more about the work that we are do­ing for our cli­ents, help­ing them in­nov­ate, grow and mit­ig­ate risk.To be able to provide you with the best sup­port, we im­merse ourselves in your world to un­der­stand your leg­al needs and chal­lenges. However, it is equally im­port­ant that you know who we are and how we can work with you. So, we in­vite you to meet our ex­perts and catch a glimpse of what is hap­pen­ing in­side CMS.En­joy read­ing this pub­lic­a­tion, which we will up­date reg­u­larly with new con­tent.CMS Ex­ec­ut­ive Team
Do­ing busi­ness in Rus­sia
This is the new edi­tion of the CMS Do­ing busi­ness in Rus­sia guide. 
Lex­o­logy GT­DT - In­sur­ance & Re­in­sur­ance 2021 (Rus­sia)
Lex­o­logy Get­ting The Deal Through has pub­lished the four­teenth edi­tion of In­sur­ance & Re­in­sur­ance.This is a quick ref­er­ence guide en­abling side-by-side com­par­is­on of loc­al in­sights in­to in­sur­ance and re­in­sur­ance is­sues world­wide, in­clud­ing reg­u­la­tion of in­sur­ance and com­pan­ies and their activ­it­ies; in­sur­ance claims and cov­er­age; re­in­sur­ance prin­ciples and prac­tices; dis­putes (in­clud­ing ar­bit­ra­tion); and re­cent trends.The chapter on In­sur­ance & Re­in­sur­ance for Rus­sia 2021 was writ­ten by Seni­or Part­ner Le­onid Zubar­ev. Please find be­low the com­plete art­icle to down­load and con­tact Le­onid Zubar­ev if you need any in­sur­ance-re­lated leg­al ad­vice.Ac­cred­it­a­tion: Re­pro­duced with per­mis­sion from Law Busi­ness Re­search Ltd. This art­icle was first pub­lished in Lex­o­logy Get­ting the Deal Through – In­sur­ance & Re­in­sur­ance 2021 (Pub­lished: Au­gust 2021).
CMS M&A European Out­look 2022: Road to re­cov­ery
Septem­ber 2021 We are pleased to provide you with this year’s edi­tion of the “European M&A Out­look”, pub­lished in co-op­er­a­tion with Mer­ger­mar­ket
CMS Rus­sia earns a re­cord num­ber of re­cog­ni­tions by Best Law­yers 2022
Strong re­cog­ni­tion by the rank­ing 32 CMS Rus­sia ex­perts have been se­lec­ted for in­clu­sion in­to the 2022 edi­tion of the Best Law­yers rank­ing. In total, we have earned 74 re­cog­ni­tions by the rank­ing :Ant­on...
Life in­sur­ance in Rus­sia. Chal­lenges and op­por­tun­it­ies
As­so­ci­ation of European Busi­nesses is pleased to in­vite you to the In­sur­ance and Pen­sions Com­mit­tee’s open event "Life in­sur­ance in Rus­sia. Chal­lenges and op­por­tun­it­ies" de­voted to the leg­al and prac­tic­al...
Most awaited leg­al de­vel­op­ments of 2021
CMS Rus­sia ex­perts have pre­pared their an­nu­al se­lec­tion of the most awaited leg­al de­vel­op­ments in Rus­sia in 2021.You can read de­tailed art­icles and re­com­mend­a­tions by our ex­perts on the forth­com­ing changes...
CMS Launches new In­sur­ance Group App
The CMS In­sur­ance Group has an­nounced the launch of a new app for in­surers and re­in­surers, brokers and cli­ents of in­sur­ance com­pan­ies.The app provides ac­cess to in­form­a­tion on the latest leg­al de­vel­op­ments...
Do­ing busi­ness in Rus­sia 2020
As part of our un­der­tak­ing to cre­ate ad­ded value for cli­ents, our pro­fes­sion­als have put to­geth­er this in­tro­duct­ory guide to the Rus­si­an leg­al sys­tem and the prin­cip­al laws and reg­u­la­tions that are of in­terest to in­vestors in this chal­len­ging but op­por­tun­ity-full mar­ket. It is of course no sub­sti­tute for the ex­pert ad­vice tailored to your pro­ject that we will be pleased to provide to you on re­quest.Rus­si­an le­gis­la­tion is chan­ging rap­idly. Al­though this guide de­scribes the laws as of 1 Janu­ary 2020, please con­tact us to check that it re­mains up-to-date. We would also re­com­mend that you sub­scribe to our free on­line ser­vice CMS Law-Now through which you will re­ceive our leg­al and tax eAl­erts. Jean-François Mar­quaire (Man­aging Part­ner)Le­onid Zubar­ev (Seni­or Part­ner)