OREANDA-NEWS. June 16, 2011. SOGAZ Insurance Group has won an open tender for the right to insure liability of members of the Board of Directors and officials of OJSC Rostelecom with a total coverage of USD 250 million under a one-year insurance policy.

One of the main requirements to bidders set forth by the customer was provision of reliable reinsurance protection, and so the greater part of the risks assumed by SOGAZ will be reinsured in the international market with insurance and reinsurance companies rated at least A- by Standard & Poor’s.

OJSC Rostelecom is Russia’s largest telecommunications company servicing over 100 million customers in Russia. Rostelecom has been issued a set of state licenses for providing a wide range of telecommunications services across the Russian Federation. The company is an absolute leader of Russia’s Internet and fixed-line telecommunications markets. Its securities are traded on RTS and MICEX, Russia’s largest stock exchanges, and OTCQX, a US over-the-counter electronic trading system.