Sberbank Insurance receives accreditation in India - newspaper

MOSCOW. June 30 (Interfax) - Sberbank Insurance has obtained accreditation in India, its CEO Mikhail Volkov said in an interview with Kommersant.

As a universal insurance company, Sberbank Insurance seeks "business development opportunities wherever possible," Volkov said. "There are needs that stakeholders even expect us to fulfill, such as products required for international trade operations. This isn't a quick process. It involves complex, specialized types of insurance," he said.

Volkov said the company has reached sufficient maturity "to meet the criteria demanded by both government and businesses in this sphere."

"We recently received accreditation in India. This represents a promising direction given the high volume of trade with Russia. Sberbank Group holds a competitive advantage - its own Indian banking subsidiary. This provides a strong operational foothold, making us probably the only insurer currently with resolved payment settlement capabilities in India," he said.