The client acted as a reinsurer under an obligatory civil liability reinsurance contract. In the course of performance of the reinsurance contract the Central Bank of the Russian Federation held the reinsured liable for violating the rules on the investment of insurance reserves. The reinsured filed a claim seeking termination of the reinsurance contract and recovery of the amount of the insurance premium paid.
Thanks to the coordinated and prompt actions of KIAP Law Firm's lawyers, the court found the claim to be unjustified and dismissed it in full. The higher courts (including the Supreme Court of the Russian Federation) upheld the position of the court of first instance.
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