OREANDA-NEWS. July 08, 2010. The Kostomukshskoe office of Saint-Petersburg branch of SOGAZ Insurance Group has signed voluntary health insurance contracts with the employees of two Severstal enterprises — one of the world’s largest mining companies.

Pursuant to the contract, during one year SOGAZ will provide voluntary health insurance to the employees of OJSC Karelsky Okatysh – the largest company in the north-west of Russia, and service company LLC ZRGOO (LLC Ore Mining and Processing Machinery Repair Company).

SOGAZ has insured over 5 thousand people in total. The insurer’s aggregate policy limit has exceeded RUR 1,4 billion.

OJSC Karelsky Okatysh, being part of Severstal, is Russia’s most advanced company specializing in iron ore mining and processing. The company processes ferruginous quartzites into high-quality metallurgical stock (furnace iron ore pellets) on the basis of the Kostomukshskoe iron ore deposit.

Over the recent years SOGAZ Insurance Group has been the absolute leader in the field of voluntary health insurance. Based on the results of 2009, the fees collected by SOGAZ under voluntary health insurance amounted to RUR 14 billion.

It is worth noting that SOGAZ has insured the property of OJSC Karelsky Okatysh for an amount exceeding RUR 11 billion, as well as the risk of production cycle interruption with the policy limit of RUR 1,715 billion.