MOSCOW, March 16 (RAPSI) – Russian Central Bank to tighten supervision over insurance companies and pay close attention to their financial records, the Bank said in a statement released on Wednesday.

Oversee procedure was established by the Bank on January 18, 2016. The Bank will assess equity and debt, profitability, quality and liquidity of assets, reinsurance operations, the dynamics of the key financial indicators, the quality of underwriting, the ratio of funds and liabilities of insurance companies.

Supervising would be conducted on the basis of accounting reports by the insurance companies as well as the information already available to the Bank.

The Bank believes that new measures would allow the interested parties to identify financial problems early and prevent the issues with solvency at the insurance companies.