Russia market News

Russia Court Finds Meta Guilty of ‘Extremist Activity’; Ruling Will Not Affect WhatsApp

A Moscow court said on Monday that Meta was guilty of “extremist activity,” but the ruling will not affect its WhatsApp messenger service, focusing on the U.S. firm’s already-banned Facebook and Instagram social networks. Meta did not respond to requests …

Russia Tech Giant Yandex Uses AI to Reward Safe Drivers With Insurance Discounts

Russian tech giant Yandex plans to reward responsible drivers on its car-sharing platform with cheaper insurance this year, it told Reuters, using machine learning in a pilot program similar to one already adopted by Tesla. Newly listed Renaissance Insurance has …

Russia National Reinsurance Co. to Expand into China, India, Middle East & Africa

Russian National Reinsurance Co. (RNRC) aims to expand into China, India, the Middle East and Africa to increase income from premiums and diversify beyond Russia, the chief executive said. State-owned RNRC was set up mainly to offer reinsurance to firms …

Liberty Mutual Acquires KIT Finance, Enters Russian Auto Insurance Market

Liberty Mutual, one of the largest insurance companies in the world, said it would enter the Russian market with a deal to acquire KIT Finance Insurance, which primarily writes auto coverage in St. Petersburg and Moscow. Terms of the deal …