OREANDA-NEWS. November 05, 2009. The financial statements prepared by OJSC “Transsiberian Reinsurance Corporation” on the basis of the results of three Quarters 2009 were handed over to the tax bodies. According to data of the income statement, Transsiberian Re collected RUR 801.5 mln of reinsurance premium for 9 months of current year. This amount exceeds the index of premium amount for similar period of  last year by 29.8%.

The total volume of payments of Transsiberian Re under agreements accepted in reinsurance for 3 Quarters 2009 according to data of “No.2-Insurer” form amounted to RUR 235.9 mln that is less by 18.8% than payment amount made for 9 months 2008.

The Equity of Transsiberian Re at the end 3d Quarter exceeded the index at the beginning of current year by 11.5% and amounted to RUR 316,7 mln. And the chartered capital only consists of 58% from that amount, the rest of the amount includes retained profit of past years and capital surplus and reserve capital.

The investment amount reflected in “No.1-Insurer” form for last period from the beginning of year increased by 15% and amounts to RUR 545 Mio. At the same time bank deposits of the Corporation increased two times as much.

The clear-cut and improved work with counterparts has enabled to cut accounts receivable volume up to RUR 163 mln which amounts to 15% from the currency balance.

The insurance provision amount increased by 3.3% for 9 months of current year. And reinsurers’ share in insurance provision decreased by 8% for accounting period. Management expenses were obviously not changed in comparison with similar period of last year.

The major factor characterizing successful development of Transsiberian Re for 2009 is the balance sheet profit. As a result of 9 months, profit before taxes amounted to RUR 40.6 mln net profit amounted to RUR 32.7 mln.