India approves three Russian insurers for marine cover till February 2026

Quick Summary:

Insurance is essential for maritime transport, particularly oil cargoes that require the highest safety standards due to the risk of spills.

The permits for Sberbank Insurance, Ugoria and ASTK are valid until February 20, 2026, the order showed.

Reuters last month reported that the three entities were seeking approval from the Indian shipping regulator to provide P&I cover.

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Category: BusinessFinance

Markets: IndiaChinaUkraineUnited States

Topics: Ugoria insurance india Russian insurers shipping india Russian oil shipments Sberbank insurance india India russian oil trade Marine cover approval india India russian marine insurance Astk insurance india

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-05-13 @ 18:07:24 (13 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 393 words

Reading Time: 3 minutes read

Sentences: 14 lines

Sentence Length: 29 words per sentence (average)

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Copyright Owner: © Business Standard

News ID: 28677174

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