OREANDA-NEWS. July 02, 2010. According to the results of 2009, the consolidated insurance premiums paid to INGO group, comprising Ingosstrakh OJSIC (Russia), SOFAG (Germany), INGO Ukraine (Ukraine), INGO Ukraine-Life, Garant (Austria), IngoNord (Finland), Belingostrakh (Republic of Belarus), INGO Armenia (Republic of Armenia), Kyrgyzinstrakh (Kyrgyz Republic), INGO Uzbekistan (Uzbekistan), IC Ingosstrakh-Life (Russia), Emergency Insurance Company OJSC (Russia), Ingosstrakh ONDD Credit Insurance LLC (Russia) amounted to 52.7 bln rubles, compared to 51.5 for the same period of previous year (2.4% growth compared to four quarters of 2008).

Most of the consolidated insurance premium (87%) for INGO companies is formed by Ingosstrakh’s premium. 46% of Ingosstrakh’s insurance portfolio for 2009 consisted of motor vehicle and car owner’s liability insurance; 17% made property insurance against fire and related risks; 12% - compulsory motor third-party liability (CMTPL) insurance; 10% -personal insurance; 5% - cargo insurance, vessel hull insurance and ship owner’s liability insurance; 4% - insurance of aviation and space risks. The main increase in collected premiums is due to the increase of payments in the voluntary insurance and CMTPL insurance segments, which amounted to 6% and 16% respectively.

Indemnity paid by INGO during the accounting period amounted to 34.6 bln rubles, 26.6% higher than in the same period of previous year. The growth of the actual amount of indemnity paid shows that, despite the growing non-payment crisis in the insurance market, the company promptly and fully performs its obligations to clients.

INGO’s net profit for 2009 amounted to 4.8 bln rubles.

The group’s consolidated assets as of December 31, 2009 amounted to 72.6 bln rubles, compared to 73.5 bln rubles at the end of 2008; insurance reserves decreased to 43.7 bln rubles from 48.2 bln rubles at the end of 2008, equity capital amounted to 18.1 bln rubles (18.4% growth compared to 2008).

The submitted data were audited by Ernst&Young LLC.