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ARTICLE · 25 FEBRUARY 2015

Corporate Insurance Newsletter - February 2015

Clyde & Co
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The greater use of sectoral sanctions created challenges for (re)insurers, as did the pace and significance of some changes made to established sanctions regimes.

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Clyde & Co LLP
Clyde & Co LLP
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Welcome to the latest update from Clyde & Co's corporate insurance team. This update summarises recent developments with links to further reading.

The state of play in key sanctions regimes

2014 was a busy year for (re)insurers responding to developments in sanctions. The greater use of sectoral sanctions created challenges for (re)insurers, as did the pace and significance of some changes made to established sanctions regimes.

In this article, we look at the current state of play in some key sanctions regimes and the implications for (re)insurers.

1. Russia: Movement to sectoral sanctions

In response to the destabilisation in Crimea and Ukraine, the EU and US introduced "sectoral sanctions" which are designed to focus on key business interests in Russia and to complement traditional asset freezing measures.

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