OREANDA-NEWS. July 02, 2008. In Novosibirsk, a press conference was held to discuss the results of the strategic dialogue (annually held regional development planning event) dedicated to the prospects of ROSNO’s Siberian Directorate in 2008 to 2010, reported the press-centre of ROSNO.

Eastern-Siberian and Middle-Siberian Directorates included into the unified directorate were named the company’s best directorates by all criteria (premium written, premium collected, and profitability) on the basis of their performance in 2007.

Based upon the year 2007 results, the unified Directorate earned 37 mln roubles of profit, two times exceeding the planned figure. This became possible thanks to the active property insurance work, voluntary medical insurance, and accident insurance. In accordance with the year results, the OMTPL share in the Directorate’s portfolio is 23,2%, while MOD accounts for 25,9%, VMI is 15,6%, and property insurance is 11,3%.

During the motor insurance development phase, the company focused on promotion of MOD contracts with franchise. The sales of this product grew sixfold in the second six months of 2007 as compared to the first six months of the same year.

The Director of ROSNO’s Siberian Directorate Mr. Alexander Makhankov notes: "As the year results show, we are successfully fulfilling our task of branch development. The share of branches in the premium collected by the entire Directorate has increased from 52% in 2006 to 58% in 2007. The impressive growth and, as a consequence, strengthening market positions were demonstrated by the Tomsk and Chita branches. In 2008, we expect redistribution of sales channels efficiency: while the retail business’s share will remain the same, the share of intermediary sales has to grow from 35% to 41% by means of reducing the share of corporate sales. In 2008 to 2010, we will continue to perform the work on reduction of OMTPL losses which was started in 2007. In general, by 2010, the Directorate’s portfolio will become even more balanced thanks to the intensive development of such business activities as property insurance, VMI, MOD, and insurance of financial risks borne by agricultural enterprises".

Among ROSNO’s strategic initiatives for the years 2008 to 2010 are: formation of a network of family clinics (in Novosibirsk, Irkutsk, Krasnoyarsk, and Omsk) under the VMI development program, as well as organization of cross sales of products offered by Allianz ROSNO Life and Allianz ROSNO Asset Management. As compared to the year 2007, gross premium written will increase in 2010 more than threefold.