OREANDA-NEWS. Representatives of OJSC “Transsiberian reinsurance corporation” took part in a meeting of reinsurers in Baden-Baden (Germany), which took place on October, 21-25. During almost thirty years annually on the last week of October this German town welcomes the representatives of insurance business.

This year OJSC "Transsiberian reinsurance corporation" was represented by six persons: general director Irina Postnikova, director on reinsurance Anna Fadeeva, Chief Underwriter of the "European bureau" branch (Moscow) Alexander Milakhin, director of the "North-Western bureau" (St.-Petersburg) Svetlana Petrova, director of the "International Bureau " (Prague, Czech Republic) Peter Cherny and the lawyer of the same branch JuDr. Eric Macakova.

Each time, participation of "Transsiberian Re" in such a representative forum of reinsurers proves its efficiency: new business contacts are established, work with long term partners is resumed. Thus, this year members of “Transsiberian Re" held negotiations with their colleagues from the companies of the Old World, basically countries of Central and Eastern Europe, and Asian market.

 Annual participation in Baden-Baden reinsurance meetings is one of directions in realization of company’s development strategy aimed at creation of a reinsurer of the international level. It is also proved by the fact that "Transsiberian Re" is the only one company on the Russian insurance market, having the international ratings from two agencies: Fitch B +, (the outlook is stable) and A.M. Best C++, (the outlook is stable).

However, participation in present meetings of the lawyer from "the International bureau" of "Transsiberian Re" was not casual. She held negotiations with non-European reinsurers on the theme of the further business practices in the countries of the European Union.

The matter is that from 2008 to accept risks from the European Union countries the company should be registered in one of these countries, or registration of a branch in each country.
Prospective procedure of registration is very complex and expensive. For example, in the Czech Republic the guarantee fund (under the project of legislators) will make 3,5 million Euro. Half of this sum should be constantly held in assets in Czech Republic. And nobody gives a guarantee of registration of a branch of the Russian company.