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. Last Updated: 07/27/2016

St. Paul Insurance JV

ST. PAUL, Minnesota -- St. Paul Cos., parent of St. Paul Fire and Marine Insurance Co., said Monday it has formed a joint venture with Rosgosstrakh, a Russian state insurer. The 50-50 joint venture, called the New World Insurance Co., was incorporated on the Isle of Guernsey with an initial capitalization of $1.1 million. It will be managed by The Minet Group, St. Paul Cos' London-based insurance brokerage, which will provide reinsurance brokerage, management services and an extensive range of insurance services.