Organizational and legal form of insurance companies

In the insurance market of the Russian Federation there are insurance companies with different legal forms (joint stock company, limited liability company, etc.). Russian legislation does not impose any exemptions on the organizational-legal forms of insurance companies. The only requirement is that, as the insurer may be made only by a legal entity.

The founders of the insurance company can be both physical and legal persons, including foreign ones.

The Russian insurance legislation stands as a special form, which can be created by the insurer, Mutual Insurance Company (Allied). (Federal Law "On Organization of Insurance in the Russian Federation" does not refer to the OBC category "insurance companies").

Rooted in the historical past, a mutual insurance company because of the specific organization, asset ownership and management have successfully compete in today's insurance market of many countries with joint-stock insurance companies. Mutual Insurance Company - a legal form of an insurance organization in which each policyholder is also a member of the insurance company. Allied - an association of insurers in order to co-create a certain kind of insurance products for members of the society.

In accordance with the legislation of mutual insurance companies are non-profit organizations.

One form of commercial co-operation of insurance companies is the co-insurance (co). In the developed form, this leads to the creation of pools, insurance associations and clubs. The purpose of their creation - providing methodical and organizational assistance to its founders, co-ordination of their activities for the various types of insurance, participation in the preparation of legislation to promote scientific development, etc.