Insurance firm Gefest has insured an upgrade of the M-56 Lena federal highway in Yakutia for $137m, Gefest said.

Specifically, the 849th through 880th km section of the highway has been insured, the firm added.

The 1,235km long M-56 Lena federal highway runs through part of the Amur region but predominantly through Yakutia on permafrost.

Gefest has been in the insurance business since 1993.