Moscow, September 7, 2006. Moscow Reinsurance Company (Moscow Re) paid IC Grand (Armenia) $144,000 under facultative life and health treaty for 8 crew members of Airbus-320, owned by Armavia air company. The flight Erevan - Sochi crashed on May 2, 2006. The claim was paid in two days upon receiving all necessary documents.

Moscow Re was established in 1996. In 2005 it was registered as an open joint-stock company.

Equity capital amounts to Rub 833.960 mln and authorized capital to Rub 296.008 mln.

In 2005 Moscow Re collected over Rub 910 mln of premium.

Company operates in all general classes of reinsurance and has the largest client base among Russian reinsurers.

Moscow Re operates in markets of CIS and Baltic states, Middle East and Eastern Europe, Asia Pacific, North and South Africa.

Company has representative offices in six Russian cities (Vladivostok, Irkutsk, Novosibirsk, Ekaterinburg, St. Petersburg, and Samara), Belarus, and Ukraine.

In September 2005, Standard & Poor’s upgraded company’s international rating to B+ (ruA+ on the Russian scale). On May 17, 2005, reinsurer was awarded the highest rating of A++ by Russian-based Expert RA.