Russian Central Bank revokes licenses of LIBRA mutual insurance association, underwriter

MOSCOW. April 2 (Interfax) - The Central Bank of Russia has revoked the licenses of the LIBRA non-profit corporate organization and consumer mutual insurance association, the regulator said on Tuesday.

The CBR has also revoked the license of TAURUS Insurance Consultants and Brokers LLC. LIBRA and TAURUS are registered at the same address in Moscow.

The CBR said that it has revoked the licenses of the insurance market participants owing to refusal "to conduct the activities as stipulated in the licenses."