12.08.2016, 07:49
SOGAZ to Insure Severstal Group Companies for RUB 113 billion
OREANDA-NEWS. SOGAZ Group will provide property coverage to Severstal PJSC and its subsidiaries, Severstal-Metiz, Orlov Steel Rolling Mill, Redaelli SSM, Izhora Pipe Mill, Sheksna Pipe and Section Mill, Karelsky Okatysh and Olkon. The aggregate sum insured is about RUB 113 billion.
For one year, SOGAZ will provide coverage against all risks for manufacturing and production facilities and properties of the Severstal subsidiaries, including special machinery, rolling stocks and vehicle fleets. Some companies will be insured against business interruption. Additionally, SOGAZ will insure special machinery and motor vehicles of the holding company – Severstal PJSC.
SOGAZ Insurance Group and Severstal have a long-term cooperation experience. For more than six years, SOGAZ has been providing property and liability coverage as well as employee insurance. In particular, SOGAZ has insured the manufacturing site and property complex of Cherepovets Metallurgical Works, a member of Severstal Group. This insurance contract with the sum insured of $18.5 billion was renewed in April 2016.
Severstal is one of the world's largest vertically integrated steel making and mining companies with assets in Russia, Belarus, Ukraine, Latvia, Poland, Italy and Liberia. The Company's stocks are traded on the Russian trade platform MICEX-RTS, and its global depositary receipts are listed on the London Stock Exchange. In 2015, the Company earned $6.396 million with EBITDA of $2.096 million. In 2015, it produced 11.45 million tons of steel.
For one year, SOGAZ will provide coverage against all risks for manufacturing and production facilities and properties of the Severstal subsidiaries, including special machinery, rolling stocks and vehicle fleets. Some companies will be insured against business interruption. Additionally, SOGAZ will insure special machinery and motor vehicles of the holding company – Severstal PJSC.
SOGAZ Insurance Group and Severstal have a long-term cooperation experience. For more than six years, SOGAZ has been providing property and liability coverage as well as employee insurance. In particular, SOGAZ has insured the manufacturing site and property complex of Cherepovets Metallurgical Works, a member of Severstal Group. This insurance contract with the sum insured of $18.5 billion was renewed in April 2016.
Severstal is one of the world's largest vertically integrated steel making and mining companies with assets in Russia, Belarus, Ukraine, Latvia, Poland, Italy and Liberia. The Company's stocks are traded on the Russian trade platform MICEX-RTS, and its global depositary receipts are listed on the London Stock Exchange. In 2015, the Company earned $6.396 million with EBITDA of $2.096 million. In 2015, it produced 11.45 million tons of steel.
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