OJSIC Ingosstrakh and Russian representation of Volvo Penta AB signed Memorandum of Understanding.

Under the agreement, Ingosstrakh will provide insurance cover to yachts and boats, running on Volvo Penta engines. The company, in turn, will provide repairs at the official dealers in case of insurance losses of such yachts and boats.

Moreover, Volvo Penta in Russia, with support of Ingosstrakh, launches program of one-year warranty prolongation for the engines, which basic warranty will expire.

Volvo Penta AB is a leading manufacturer of engines and power systems for marine and industrial use. In Marine Leisure segment, company produces gas and diesel engines with a range from 10 to 775 hp. In Marine Commercial segment – diesel engines with a range from 100 to 2200 hp, and auxiliary diesel and generating sets.

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+/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.