OREANDA-NEWS. May 30, 2011. The volume of Ingosstrakh OJSIC premium under the inwards reinsurance in 2010 amounted 3.4 billion rubles or 9.8 % of charges of the whole Russian reinsurance market, and the company has become a leader in the volume of involved business. In the field of optional reinsurance the company collected 2.2 billion rubles (64,7 %), while in the field of inwards obligatory reinsurance it collected 1.2 billion rubles.

The most significant regions for Ingosstrakh OJSIC in 2010 were, besides Russia, Ukraine, Azerbaijan, Uzbekistan and Kazakhstan. The total amount of received reinsurance premiums after deduction of commission fees from those markets amounted 134 million rubles, the losses totaling 42 million rubles were compensated. 7 insurance companies from Russia, Ukraine, Azerbaijan and Kazakhstan were involved as new clients. In 2010 Ingosstrakh settled a number of severe losses. Among them it should be mentioned:

The loss under the reinsurance agreement of property and accompanying risks. The insurance accident was the lighting strike into the tank of crude oil with the following explosion and fire. The payment, made by Ingosstrakh OJSIC, amounted 21 million rubles;

The loss under the reinsurance agreement of property and accompanying risks — the explosion at the oil processing plant. The payment, made by Ingosstrakh OJSIC quota, amounted 2.83 million rubles.

The volume of reinsurance premium charges at international markets amounted USD  29.3 million or 890.5 million rubles. During 2010, 63 obligatory agreements from international market, including 5 new ones, were in force. New companies from Asia, Middle East and several new agreements on assignors from Eastern Europe were involved. The largest Ingosstrakh OJSIC clients on the inwards obligatory programs are Sovag (Germany), PICC (China), JIC (India), Korean Reinsurance Company (Republic of Korea), Ak Sigorta (Turkey), Scor (France), Hannover Re (Germany).

During 2010 Ingosstrakh OJSIC made the payments for the following severe losses:

229,000 euro — payment in connection with the loss caused by fire at the wood processing enterprise MBAB Energy, under the quota agreement on reinsurance of property risks on the Sweden territory;

143,000 euro – damage and loss of the satellite Eutelsat W3B under the agreement of obligatory reinsurance of space risks on the basis of excess of losses sums;

The flood in Poland in the end of May 2010. It was partly compensated USD  40 000, in the first part of 2011 it has been planned to conduct the final payment of USD  40 000 USD additionally.

Besides, in 2010 one more severe loss was claimed totaling USD  166 000 at Ingosstrakh OJSIC quota, caused by the earthquake in Chile.

In 2010 the sum of received reinsurance premium in this line amounted 88 million rubles, among them 58 % fell within travelers’ risks, 37 % — within motor hull coverage and VMTPL and about 5 % within the risks of accidents, properties and liabilities. The losses of more than 55 million rubles were compensated. The main volume of payments represented the travelers’ and properties risks.