OREANDA-NEWS. January 15, 2007. It is already ten years OJSC Transsiberian Reinsurance Corporation has been cooperating with External-economic Sakhalin Insurance Association (ESIA) that is one of the oldest Insurance companies underwriting its business in the Far East of Russia.

OJSC Transsib Re appears to be one of the major partners of ESIA in the reinsurance field. During this time about 100 contracts of inward and outward reinsurance were concluded. Speaking about currency risks the Corporation takes 7% of the liability volume of 159 MIO USD and 18% of risks estimated as 2 billion rubles. During the whole period five losses amounting to 1 million rubles were paid off.

The field of cooperation between Transsib Re and ESIA is primary reinsurance of marine risks that makes almost 90% of all written premiums as long as contracts. Even under the first contract that has been signed on 19th of January, 1998 one big autonomous trawler ship was reinsured. That was estimated as 4,5 MIO USD.

OJSC Transsib Re plans to have mutual and extended cooperation with ESIA during the next decade and in view of changing the owner (that occurred at the end of the year) and transferring of shareholding to the bank we plan to enlarge and develop our working relationship. Moreover reinsurance volumes of Transsib Re allow to provide a creditor and a borrower with the complex protection of interests.