OREANDA-NEWS. October 14, 2009. Ingosstrakh IJSC paid a further tranche to the amount of USD 22.4k for the World Trade Center Towers in New York destroyed in a terrorist attack on September 11, 2001. Ingosstrakh is the only Russian insurer taking part in settlement of these losses.

Previously, in 2002, Ingosstrakh paid over USD 1mln under the reinsurance contract with a retrocedent – the French insurance company SCOR. Allianz Global Risks U.S. Insurance Company is the insurance carrier for this risk.

In the period from 2007 till now Ingosstrakh has compensated another USD 695k (including the above tranche of USD 22.4k) for the property lost in the terrorist attack and legal costs related thereto. The outstanding amount of USD 242k to be compensated by the Russian insurer will be paid in compliance with the terms and conditions of the reinsurance contract till September 2010.

Thus, total insurance compensation for the terrorist attack of September 11, 2001, to be paid by Ingosstrakh pursuant to its share will amount to almost USD 2mln.