“Rossiya” insurance company has lost its license

On 15 November 2013, the Bank of Russia Financial Markets Service revoked the licence issued to Rossiya insurance company.

Less than a year ago a major dispute involving this company was resolved in court, where Maxima Legal represented the interests of the insured, a joint-stock company named “Terminal”. Under the court decision, the client received its insurance indemnification in full, but Rossiya eventually failed to restore its solvency.

“Maxima Legal's aim was not to make one of the largest Russian insurance companies bankrupt, but to protect the interests of its client effectively and in good faith,” says Sergei Bakeshin, head of insurance law practice.
Maxima Legal is currently conducting another major insurance case against the insurance company “Natsionalnaya Strakhovaya Gruppa”.