Ingosstrakh is a partner of a round-table “Reinsurance in Russia: on the way to reliability”
Round-table “Reinsurance in Russia: on the way to reliability”, organized by Expert RA, was held in Holiday Inn Moscow Suschevsky hotel. Ingosstrakh acted as partner of the round-table.
Participants included: Igor Alexeev, Chief of Department for incoming obligatory reinsurance of Ingosstrakh; Sergey Dedikov, Legal Advisor, acting Director General of OJSC Moscow Re; Grigoriy Fidelman, Vice-President of ARIA, Head of Unity Re project; Sergey Danilychev, Deputy Chairman of OJSIC Russian Insurance Center and others.
Participants discussed contemporary issues of reinsurance market and key development trends from the investment attractiveness view, competitiveness of Russian companies to leading world reinsurers, consequences of accession to WTO for reinsurance market.
Igor Alexeev, Chief of Department for incoming obligatory reinsurance of Ingosstrakh, made a presentation. He stressed that “one should not consider national reinsurance market as the market of cheap and forced reinsurance. Russian reinsurers can adequately compete with foreign counterparts, as 15-years experience allows to provide quality and reliable services to clients. Today, our task is to analyze the mistakes and learn lessons, as for it we will strengthen trust to Russian reinsurers and advance the effective development of national reinsurance market.”
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 (ÂÂ+/Stable, 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.
