Russian lawmakers discuss new mechanism to bail out insurance companies: finance minister

FILE PHOTO - Russian Finance Minister Anton Siluanov is seen before President Vladimir Putin's annual state of the nation address to the Federal Assembly in Moscow, Russia March 1, 2018. REUTERS/Maxim Shemetov

MOSCOW (Reuters) - Russian Finance Minister Anton Siluanov said on Tuesday that Russian lawmakers were discussing a new mechanism to bail out insurance companies.

“A draft law improving supervision on insurance companies, including a mechanism of their bailout, is being prepared by the state Duma,” Siluanov told a meeting with Prime Minister Dmitry Medvedev on Tuesday.

Russia’s central bank bailed out Otkritie bank and Rosgosstrakh, an insurance company connected to it, last year. There are a number of other big private insurance groups operating in Russia.

Reporting by Darya Korsunskaya; Writing by Katya Golubkova, editing by David Evans