OREANDA-NEWS. On 18 August 2008 was announced, that Ingosstrakh Life Insurance Company, a branch of IJSC Ingosstrakh with a focus on long-term life insurance, pension insurance and personal sickness and accident insurance, has summarized its operating results for 1H 2008.

The aggregate written premium collected by Ingosstrakh Life in 1H 2008 amounts to RUR363.7mln, which is 33.5% higher than in 1H 2007. This amount includes RUR105mln in long term life insurance (+103%) and RUR 258.7mln personal sickness and accident insurance (+ 17.2%).

In 1H 2008 Ingosstrakh Life paid RUR74.1mln to its clients, including RUR 64.3mln in compensations under personal sickness and accident insurance policies and RUR9.8mln in long-term life insurance.  The size of the company assets as at 30.06.2008 was RUR 985.3mln, or RUR102.3mln higher than in 1H 2007. The size of the company reserves increased to RUR516.3mln. The size of the company capital is RUR312.7mln, while its registered capital is RUR232.5mln. Ingosstrakh Life Insurance Company is a subsidiary of IJSC Ingosstrakh.

Ingosstrakh-Life provides long-term life insurance, pension insurance and accident & health insurance services. The Company was ring-fenced from IJSC Ingosstrakh as a free-standing entity in 2003 in accordance with legal requirements pertaining to segregation of life insurance from other types of insurance.

The company continues along a steady development path. It currently has 18 representative offices in large cities across Russia. Moreover, IC Ingosstrakh-Life offers a wide range of services throughout the vast territory of the country trough IJSC Ingosstrakh branches. This enables the Company to avail to every client such insurance services that create a reliable financial protection for each client.

In the rating of life insurance companies in 2007 published by Expert Rating Agency in the Insurance Market Due Diligence Encyclopedia, Ingosstrakh Life Insurance Company is rated 9th by the aggregate amount of written premium.