OREANDA-NEWS. June 23, 2008. In Nizhny Novgorod, a press conference was held to discuss the results of the annual strategic dialogue dedicated to the results and prospects of ROSNO’s development in the Privolzhsky Federal Area. The press conference participants have also discussed the major trends and outlook for development of the insurance market in Russia and, in particular, Povolzh’e.

Among the event’s participants were Mr. Dmitriy Popov, First Deputy CEO/COO of ROSNO, Mr. Vladimir Parshakov, Deputy CEO and head of the Privolzhskaya Directorate of ROSNO, and Ms. Olga Stepennova, Deputy CEO of ROSNO in charge for medical insurance business.

In his speech, Mr. Popov told about the development dynamics and the structure of the Russian insurance market in 2007. In his opinion, the Russian insurance market is one of the largest markets in the Central & Eastern Europe and CIS. He possesses high growth potential not only in classical insurance, but in life insurance as well, becoming all the more attractive for international investors. Mr. Popov noted that ROSNO’s strategic regional objectives remain the same: attainment of leadership in the target insurance market segments and improvement of customer service quality. "We are doing much to achieve these goals. During the company’s large-scale regional restructuring conducted this year, we have strengthened our positions in Povolzh’e by joining the branches of the Povolzhskaya and Volgo-Vyatskaya Directorates within the boundaries of the Privolzhsky Federal Area. By establishing the new Privolzhskaya Directorate with head office in Nizhny Novgorod, ROSNO will be able to become a natural part of the economic and social structure of the Privolzhsky Federal Area. The Directorate is headed by Mr. Vladimir Parshakov, experienced and talented manager, who has a longstanding record of working in ROSNO. We are certain that the Directorate’s highly professional team led by Mr. Parshakov will achieve impressive results and meet the plans for business expansion in this region", he noted.

In his speech, Mr. Parshakov mentioned that all leaders of the Russian insurance market are represented in the Privolzhsky Federal Area, and in 2007 the top 10 companies collected 48% of all insurance premiums. In 2007, the growth shown by the Privolzhskaya Directorate outpaced the market average. Among the major growth drivers, Mr. Parshakov named personal insurance, car insurance, and property insurance.

Vladimir Parshakov has also announced the plans of the Privolzhskaya Directorate for 2008 — 2010. "We will increase our presence in the top-priority market segments, focusing on improvement of customer service quality, including more comfort for client areas in sales offices and opening new offices", he said.

Ms. Olga Stepennova has told about ROSNO’s new project — establishment of multifield medical centres in the Russian regions. One of such centres will be opened in Nizhny Novgorod in the nearest years.