OREANDA-NEWS. October 26, 2011. In October, IC ROSNO is celebrating its 20-year anniversary. During its long history, the company saw many notable events: expansion of operation area and product line, introduction of new standards, development of new technologies, and changes in management structure. But one thing has always remained unchanged — its team of professionals, which has always been, and is, one of the strongest insurance market players, reported the press-centre of ROSNO.

ROSNO’s history is closely related to the development of insurance in new Russia. The company was founded in 1991, and back then it consisted of just 11 employees. It seemed that this unknown company would never become one of the Russian insurance market leaders. However, the commitment, energy and working ability of the company’s employees did their part. IC ROSNO confidently mastered new types of insurance, becoming a universal insurer and winning leadership in many segments of the insurance market. An extensive regional network was established, attracting the most prospective professionals from throughout Russia. The Company has managed to achieve a high level of capitalization and secure itself a reliable and steady development. ROSNO’s brand became of the country’s most well-known ones.

In July 2001, the international financial holding Allianz acquired 45.47% of ROSNO shares, and in 2007 it became the major shareholder of ROSNO Group, thus largely expanding Allianz’s presence in the Russian market. With Allianz’s arrival, the company confidently held a course for international standards of business conduct. ROSNO became the first company in the market to report under IFRS and, starting from 2007, it was granted high reliability rating by the international rating agency Moody’s and the Russian Expert RA. In the 1st half of 2011, the company’s insurance premium collected exceeded 11 bn roubles.

In 2010, OJSC IC ROSNO ranked 7th among the Russian insurers in terms of the volume of gross insurance premium collected. The company also ranked 2nd by VMI premium collected and entered the TOP 10 insurers in OMTPL and MOD insurance.

In July 2011, Allianz decided to consolidate its Russian subsidiaries: CJSC Insurance Joint Stock Company Allianz, OJSC IC Progress Garant, and OJSC IC ROSNO. The consolidation of these companies is planned to be completed by April 2012. Therefore, this year ROSNO is celebrating its birthday as a separate company for the last time.

"ROSNO’s 20-year operation record draws respect from its clients, business partners, and competitors. We can safely say that, given such record, expertise and — most importantly — our team — can achieve any objective! I am sure of the bright future of the new consolidated company, because it will be based on the strong foundation", commented on this notable event Mr. Hakan Danielsson, President of OJSC IC ROSNO.