Ugoria has reviewed its 1Q07 results. In this period company has accrued Rub 1.737 mln of premiums, including Rub 1.570 under voluntary classes. The growth amounted to 66% comparing to 1Q06.

In 1Q07, premiums under individual voluntary classes amounted to Rub 505 mln, and Rub 1.065 mln under legal entity voluntary insurance. The largest volume of premiums was driven by individual voluntary property insurance – Rub 418 mln. Also, popular programs included accident and travelers policies.

The most interesting programs for legal entities are property, motor, and voluntary medical insurance. Property insurance – Rub 810 mln – leads the way in legal entity voluntary classes. The second place is occupied by personal insurance – Rub 203 mln, the third – liability and life insurance – Rub 35 mln.

The most claims – 62% – were paid in property classes. Losses were driven by fire and traffic accidents. 14% of claims were made in voluntary medical, accident, and combined travelers insurance.

In 1Q07, the CMTPL insurance grew by 13% comparing to 1Q06, when it amounted to 314,099 policies. CMTPL premiums account for Rub 165 mln, 17% growth. CMTPL share in company’s portfolio make up 10%, which is quite sufficient for CMTPL not to affect company’s financial strength.

OJSC State Insurance Company Ugoria was established in 1997. Department of state property on behalf of Government of Yugra, Khanty-Mansi AD – is the sole shareholder of the company.

Authorized capital amounts to Rub 1.333 bln. Ugoria is licensed for 72 insurance classes and reinsurance. Powerful regional network includes 51 braches and 100 agencies operating in 40 regions of Russia. In 2005, in order to optimize management, company has established territorial divisions in Khanty-Mansiisk, Ekaterinburg, Moscow, St. Petersburg, and Rostov-on-Don.

Company was awarded Russian Financial Olympus 2006 international prize in “The best regional insurance company” and “Most dynamically developed insurance company” nominations. Received Financial Elite of Russia 2007 award in “The best regional insurance company” nomination and Elite of Russian Business 2007 all-Russian competition prize in “The valuable contribution to development of national insurance system” nomination.

V. Volkov, director general, is a member of Expert council on insurance under Federal Service for Supervision of Environment, Technology and Nuclear Management, member of International Academy of Management. Mr. Volkov was awarded “Manager of the Year 2005” and Gold Salamander in “Manager of interregional insurance company 2005” nomination, is a winner of Russian Financial Olympus 2006 prize in the “Manager of the Year” nomination – for clean business reputation and efficient management of professional team, which made Ugoria a phenomenon in the Russian market. In 2007, Mr. Volkov was elected in Tumen regional Duma.

According to Ugoria annual report, in 2006, company has accrued Rub 5.317,289 bln of insurance premiums, 38% growth comparing to 2005. The accrued premiums under voluntary classes have increased by 41% and amounted to Rub 4.648,560 bln. CMTPL premium grew by 24.4% to Rub 668.553 mln.