Commissioner King: Georgia Insurers Should Divest from Russia

PRESS RELEASE – Insurance and Safety Fire Commissioner John F. King today urged insurance companies doing business in the state of Georgia to review their financial holdings and operations to identify and divest from any investments and/or operations in Russia.

“Vladimir Putin’s illegal and unprovoked invasion of Ukraine has rightfully led to condemnation from free nations across the globe,” said Commissioner King. “I served alongside many brave Ukrainians in Iraq and Afghanistan and my heart is with them now as we continue to witness the horrors they face every day. Today’s action is meant to ensure that no Georgia company is subsidizing, even indirectly, Putin’s war.”

 Commissioner King’s Bulletin specifically called on all licensed insurance companies in Georgia to begin the process of “eliminating any financial support, via investments or business operations, for the Russian regime.”

King also offered insurers the assistance of the Commissioner’s office to help confirm any such divestments or business changes do not violate relevant laws, or unduly harm Georgia consumers or the competitiveness of Georgia’s insurance market.