OJSIC Ingosstrakh and OJSC NOMOS-BANK have signed complex crime and liability property insurance agreement. Policy covers bank against risks of employee and third parties illegal acts. Moreover, policy envisages bank’s liability cover during its operations.

“As a civilized participant of global financial community, NOMOS-BANK aims not only to adhere to mandatory norms and procedures, but to comply to the full extent with global concepts of internal security, – stated Irina Gordeeva, bank’s first vice-president. – Choice of insurer was determined by Ingosstrakh’s vast expertise in such risk insurance, claim settlement, as well as quality of reinsurance cover.”

Part of the risks was ceded in the London market. Ingosstrakh partner in placing risks in reinsurance was CJSC Marsh – Insurance brokers.

Commenting on agreement, Ingosstrakh deputy director general Nikolay Galushin noted that “this insurance is aimed at decreasing bank’s operational risks, as well as to compensate bank and clients’ possible losses in the future.” In his words, such insurance cover will help to attract credit resources in the global financial markets, as BBB policy proves adherence to global banking risk management standards and high corporate management standards.

Established in 1993, NOMOS-BANK (Moody’s Ba3/NP/D-, Fitch B+/B/D) is an universal bank standing in top 20 Russia’s largest banks in amounts of equity and assets, as well as top 700 world’s largest banks. Bank provides full package of financial services, actively develops four business directions: corporate, investment, private-banking, and retail.

NOMOS-BANK is a leader in the corporate credit and project finance market and one of the largest security market operators. Bank’s clients include over 27,000 companies from 66 Russian regions and different industries. On May 17, 2007, stakeholders of NOMOS-BANK and Czech PPF Group N.V. have signed Memorandum of Understanding aimed at strengthening strategic partnership to create one of the largest universal banking groups in Russia.

It is expected that strategic partnership agreement to be signed in 4Q07, after the transaction is approved by appropriate regulatory authorities. As of January 1, 2007, bank’s assets (according to IFRS) have amounted to Rub 109.5 bln, credit portfolio – Rub 73.7 bln, equity – Rub 15.5 bln. In 2006, bank’s net profit has almost doubled to Rub 2.3 bln.

OJSIC Ingosstrakh (www.ingos.ru) operates in the global and national insurance markets since 1947. The company is one of the leaders in the amount of voluntary non-life insurance premiums.

Ingosstrakh has been rated by Standard & Poor’s (ВВ+/Stable, or ruAA+ on the Russian scale), Moody’s Investors Service (Ba1/Stable), Moody’s Interfax Rating Agency (Aa1.ru on the national scale), and Expert RA (A++).

Ingosstrakh is licensed to perform all insurance classes (insurers’ specialty), stipulated by Article 32.9 of Insurance Law and reinsurance. Company has branches in 214 Russian cities. 14 rep offices and subsidiaries operate in neighboring and other foreign countries.