OREANDA-NEWS. On May 16-18, 2007 the SOGAZ Insurance Group was named general partner in the 5th Annual International Insurance Conference, which took place in Sochi. In keeping with tradition, the conference was organised by the Russian National Insurers’ Union.
Among the participants in the conference were representatives of the federal and regional authorities, leaders of major Russian insurance and reinsurance companies, and members of the international insurance society, reported the press-centre of  SOGAZ.
Vadim Yanov, Chairman of the Board of the SOGAZ Insurance Group, gave the conference’s welcoming address, in which he specifically highlighted Russia’s role on the international insurance market: “As Russia becomes increasingly drawn into the world economy, domestic companies and industrial enterprises will only be able to operate more effectively by implementing an insurance and risk management system that meets the highest international standards”.
In their various speeches at the summit, participants discussed current issues related to insurance policy development both in Russia and abroad, and shared their opinions regarding the steps that need to be taken not only to enhance the existing insurance system, but also to increase cooperation between representatives of the Russian and international insurance markets.
In particular, in her report entitled ‘Global Insurance Culture in Russia: Mutual Influence’, Martina Richter, the Deputy Chairman of the Board of the SOGAZ Insurance Group, paid special attention to the fact that the insurance market is developing at a much faster rate in Russia than it did in the West: “Russia is travelling down its path much faster than other countries did, because it already has more complete and up-to-date technologies at its disposal. In spite of all potential difficulties, the nature of mutual relations between Russian and foreign insurers will always be fruitful.”
Also as part of the conference, Korney Bizhdov, Deputy Chairman of the Board of the SOGAZ Insurance Group, led a plenary session entitled ‘Special Issues Regarding State Regulation and Supervision of the Insurance Sector: Aims, Tasks and Tools’. Participants in the session discussed: how best to develop and introduce new methods and tools for supervising and controlling the activities of insurance companies; ways to increase the reliability of the insurance sector and the quality of services rendered therein; how to improve legislation; and the participation of insurers in facilitating the realisation of national projects.
Commenting on the results of the forum, Mr. Yanov stated: “We value very highly indeed the honour bestowed upon us this year by allowing us to act as general partner at the International Insurance Conference. The interest shown towards this event, both from big businesses and the state authorities, grows every year, and judging by both the number of participants and the variety of countries that they represent, it is fair to say that the success of this year’s conference has exceeded all previous events. As such, we are delighted that SOGAZ has been able to make such a significant contribution to the development of the insurance business in Russia.” The SOGAZ Insurance Group comprises the following companies: OJSC SOGAZ, Neftepolis Insurance Company Ltd, OJSC Gazprommedstrakh, SOGAZ-Life Insurance Company Ltd, the management company CJSC Leader, and the medical services company Gazprommedservice Ltd. The Group’s regional network includes 350 subdivisions. SOGAZ has the highest reliability rating (A++) as awarded by the Expert PA rating agency.