OREANDA-NEWS. December 2, 2008. The representatives of OJSC “Transsiberian Reinsurance Corporation” conducted more than 50 dual meetings and negotiations with the participants of November’s Business Meetings of Reinsurers, which were held in Moscow “President-hotel” from 27 to 28 November 2008.

The meetings which have become traditional were held for the seventh time and Russian companies as well as companies from near-abroad and far abroad countries participated in them. These meetings subtotal the fall-winter renegotiation of obligatory contracts. In President-hotel the Corporation was represented by 6 people starting from General Director to underwriters who specialize in different lines of business.

The Corporation held meetings with both reputable reinsurance partners and relatively new companies where the possibilities of further extension of cooperation were discussed, including development and promotion of new products, cooperative loss adjustment.

According to Chief Underwriter of Transsiberian Re, Alexander Milakhin, one of the basic themes, discussed during the meetings was the world financial crisis and its impact on insurance market in general and reinsurance market in particular. Many expect rise of prices on western defense of the portfolio and market transfer into tough phase. However, apart from negative consequences such as retrocession expenses growth, such tendency has positive points: decrease of capital outflow from Russia and increase of demand in native reinsurers’ services.