Insurers must remember that jurisdictions in which the world’s major insurers operate such as the EU, Switzerland and the USA have imposed sanctions against Russia. Russian corporations and shareholders may be named on a sanctions list which will affect the enforceability of any reinsurance of a policy where a listed person is indemnified.

There are also US, EU and United Nations lists of sanctioned people, countries and companies. They all need to be consulted before potentially unreinsurable policyholders are taken on.