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Insurance broker Marsh to exit Russia -Breaking

by Mike Robinson

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© Reuters.

(Reuters) – Marsh & McLennan, the world’s largest insurance broker, said on Thursday it will exit all of its businesses in Russia.

In a statement, Chief Executive Officer Dan Glaser stated that he plans to sell Russian business ownership to local management. This will allow them to operate in Russia independently.

It comes after it became increasingly difficult for Western financial institutions to conduct business in Moscow due to the international sanctions.

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