Ingosstrakh paid $450,000 to Liberty Shipping Associates Ltd (Hong Kong) for Aldrin main engine failure. Ingosstrakh provided hull insurance in terms of total loss and damage liability for $2.9 mln.

Insurance company paid indemnification in several installments, which provided for prompt ship repairs. Presently, Aldrin is put to sea. Vadim Semenkov, Ingosstrakh Claim Settlement Department Deputy Head, said that insurer was not obliged to paid indemnification in installments, however, this practice is widely employed by company. Ingosstrakh gives guarantees to shipyards in order to provide support to clients in case of insurance loss.

OJSIC Ingosstrakh (www.ingos.ru) operates in international and domestic insurance market since 1947. The company is one of the leaders in the amount of premium from voluntary non-life insurance.

Ingosstrakh has been rated by Standard & Poor’s (ВВ/Positive, or ruAA on the Russian scale), Moody’s Investors Service (Ba2/Positive), Moody’s Interfax Rating Agency (Aa2.ru and RUS-1 on the national scale), and Expert RA (A++).

Total amount of direct insurance and reinsurance premium collected by OJSIC Ingosstrakh, IC Ingosstrakh-M Ltd, and IC Ingosstrakh LMT Ltd for 2005 amounted to Rub 30.9 bln, 53.8% more than in 2004. Claims settled accounted for Rub 13.9 bln. Assets increased 30.4% and totaled Rub 33.1 bln. Equity capital – Rub 6.5 bln as of January 1, 2006.

Ingosstrakh is licensed to perform all twenty insurance classes (insurers’ specialty), stipulated by Article 32.9 of Insurance Law and reinsurance. Company has branches in 182 Russian cities, and over 15 offices and subsidiaries in neighboring and other foreign countries.