OREANDA-NEWS. May 19, 2010. Transsiberian Reinsurance Corporation, OJSC presented tax authorities with its financial statements for the first quarter of 2010. According to income statement Transsiberian Re recorded RUR 116.7 million of premium income for the first three months of the current year. Paid losses of Transsiberian Re made up RUR 53.6 million.

Balance sheet total has almost remained the same and made up RUR 1066 million. As at March 31, 2010 Transsiberian Re equity amounted to RUR 370.3 million which is 16% higher than indicator as at the end of 2009. Comparing to the same period of 2009, equity grew by RUR 70,845 million, or 24%.   

Investments for 1Q2010 increased by 8% to RUR 564.3 million. For Transsiberian Re investments being more solid, the amount of bank deposits in the investment portfolio was increased to 44% from 30% of 1Q2009.

Positively, credit indebtedness decreased both in absolute figures and in balance sheet total. While last year amounting to RUR 190.5 million (18.1% of total assets), as at March 31, 2010 it decreased to RUR 139 million (13%).

According to the results of the first quarter, Transsiberian Re received RUR 9 million of profit before tax. Net profit made up RUR 8.5 million.