OREANDA-NEWS. April 13, 2009. North-Western Bureau branch of OJSC Transsiberian Reinsurance Corporation paid OJSC “Insurance Company of Gas Industry” (SOGaz) USD 2.356mln of reinsurance indemnity for the damage to OJSC Russian Railways property as a result of the earthquake on the Sakhalin Island. Risk was accepted under obligatory property reinsurance contract.

The 7-8 magnitude earthquake took place on 2 August, 2007 at 13.37 o’clock by local time 15 kilometers from Nevelsk. As a result of the natural disaster earth-banks and railway, culverts, bridges and other infrastructural railway constructions and buildings were damaged.

After receipt of full loss portfolio Transsiberian Re made a payment of its share on 2 April, 2009. The payment before reinstatement premium deductions made up USD 2.356mln.