OREANDA-NEWS. July 14, 2011. Ingosstrakh Insurance Company renewed a number of obligatory outgoing reinsurance treaties:

Treaties protecting the company’s aviation portfolio and ensuring automatic aviation CNC reinsurance worth up to USD 40m and liability worth up to USD 950m without any geographical restrictions. The treaties were entered into by such international companies as Aspen, Catlin, Hannover Re, Partner Re, SCOR, Sirius, Swiss Re, Travelers, XL, and other leading world reinsurers as well as a number of Lloyd's syndicates.

The accident and sickness reinsurance treaty in the framework of complex mortgage insurance. It was concluded on basis of excess of loss with an USD 11m limit for the event (catastrophe cover). The treaty also covers accident risks for a portfolio of travelers going abroad and risks of chemical/biological contamination. 

The third party and professional liability reinsurance treaty concluded on basis of excess of loss with a USD 20m automatic capacity for third party liability risks (with a possibility to increase the limit to USD 30m on third party liability risks for operating entities and owners of hydraulic structures in case of injury or disease caused to third parties, or harm to their property) and USD 15m for professional liability risks (with a possibility to increase the limit to USD 20m). Partner Reinsurance Company leads this treaty. Hannover Re, Deutsche Rueckversicherung AG, Odyssey Re, SCOR, VIG Re and others participate in it.

Ingosstrakh Insurance Company has considerable limits on reinsurance treaties and the coverage is quite extensive not in the framework of Russian but also international standards. Despite a number of big losses that occurred in the Russian market in 2010 and early 2011 and resulted in a tougher underwriting policies implemented by reinsurers incurring these losses, the company has retained its competitive edge for 2011 and 2012.