‘It’s a bit difficult at the moment to speak of the scale of consequences AIG Inc.’s possible bankruptcy might have for the Russian market on the whole and for the insurance market in particular. What I can say, though, is that this bankruptcy might result in securities downfall and increased lending rates, which, in its turn, is bound to hit the Russian markets and the insurers badly. Quite a lot depends on whether the authorities will take steps to ensure the market’s liquidity and restore the trust lost in the banking field,’ Severnaya Kazna Insurance Company’s Economic Director Svetlana Serebryanskaya said to UrBC.


In the meantime, the world largest insurer’s stock plummeted by 50% at the opening of business at New York Stock Exchange recently. What is more, AIG’s market capitalization dropped down to $6.6bn. The company might actually file a petition for bankruptcy.


‘Our company is primarily affected by the domestic market’s ups and downfalls. This could be a good idea to buy long-term period shares now, but a precise prediction of the market dynamics is impossible,’ she added.