OREANDA-NEWS. February 28, 2012. Allianz Ukraine Ins.Co. and Allianz SE extended obligatory reinsurance programs for 2012 covering property portfolio insurance, liability insurance, sea risks and hull insurance.

Total scope of property obligatory reinsurance, including the risk of business interruption and technical risks, equaled USD 60 million.

Obligatory civil liability, product liability and professional liability reinsurance limit totaled to USD 2 million per loss event.

Obligatory cargo reinsurance provides for a limit if USD 7.5 million for sea and combined transport and USD 2.25 million for land transport. The scope of small sized vessel reinsurance agreements equaled to USD 600 thousand, while the scope freight forwarder liability reinsurance agreements equaled to USD 250 thousand per loss event.

In addition, Allianz Ukraine obligatory reinsurance program for 2012 includes motor hull insurance and voluntary car owner civil liability insurance with total scope of USD 1 million.

Allianz SE is one of the leaders in the international reinsurance market delivering the highest level of reliability of obligatory coverage received by Allianz Ukraine customers. We consider the reinsurance scopes of our company are our additional competitive advantage, as Allianz SE provides them to us on an exclusive basis. Besides, they are one of the biggest in the market. This is especially important to big corporate customers that get their property or construction-and-erection risks insured in the course of large-scale construction works. For reliable reinsurance is an extra guarantee of our company fulfilling our obligations to them – underlined Denis Kochenkov, Insurance Director at Allianz Ukraine Insurance Company.