OREANDA-NEWS. SOGAZ Insurance Group will insure liability of the Directors and Officers of one of the major national telecommunication companies in Russia and Europe, Rostelecom PJSC. The annual sum insured is 150 million EUR. The contract, which will be effective till mid-2019, was approved at the annual shareholders meeting of Rostelecom PJSC on June 21.

The insurance coverage will apply in case of claims against members of the Board and officers of Rostelecom to pay damages to third parties resulting from erroneous actions of such members of the Board and officers.

SOGAZ has been the D&O insurer of Rostelecom for several years.

Rostelekom Public Joint-Stock Company providing intercity and international electric communication services operates in all segments of the telecommunications market and covers millions of households in Russia. The Company holds the leading positions on the Russian market of broadband Internet access (BBA) and cable television. The network of BBA subscribers exceeds 11.6 million, and that of Rostelecom TV – 8.6 million subscribers.

SOGAZ Insurance Group members include SOGAZ INSURANCE, TRANSNEFT Insurance Company, ZHASO JSC, SOGAZ-MED Insurance Company JSC, SOGAZ-LIFE Insurance Company LLC, SOT-TRANS LLC, SOVAG (Germany), SOGAZ a.d.o. Novi Sad (Serbia), SOGAZ International Healthcare Center, SOGAZ-Medservice LLC. Currently, the regional network of the Group includes over 800 subdivisions and sale offices all over Russia. In 2016, the Company established its representative office in Beijing, the capital of the PRC.