OREANDA-NEWS. June 09, 2012.  In the 1st quarter of 2012, the North-Western Directorate of OJSC IC Allianz (ROSNO trademark) collected over 20.8 mln roubles of leasing insurance premium, which is 55% higher than in the same period of the previous year.

In the North-Western Federal Okrug, Allianz has managed to grow this business segment not only in value, but also in terms of the quantity of concluded contracts, which increased in the 1st quarter of 2012 by 35%, reaching 724 (vs. 535 contracts in the 1st quarter of 2011).

In the aggregate leasing insurance premium collected by IC Allianz in the North-West, passenger cars account for 81% (including MOD of 66% and OMTPL of 15%), special-purpose machinery — for 8%, cargo transportation — for 6%, corporate property — for 3%, and railway transport — for 2%.

Higher leasing insurance volumes can be attributed both to active development of this business segment by IC Allianz via its partner sales channel, and to the growing demand among insurants — leasing companies (lessors) and their clients (lessees). Though insurance coverage of leased property is voluntary, most leasing companies require it as a condition precedent for conclusion of a leasing deal between the lessor and the lessee, and, moreover, since early 2010 there is a constant upsurge in the number of leasing deals in the St. Petersburg market. For example, at present, the North-Western Directorate of IC Allianz each day processes up to 15 requests for calculation of insurance coverage under leasing transactions.

"I would underline three major factors contributing to the growth of leasing insurance business in St. Petersburg in the 1st quarter of 2012", says Mr. Vladislav Anisimov, Deputy Head for Partner Sales at the North-Western Directorate of IC Allianz (ROSNO trademark). — "Firstly, road construction is becoming more intensive both inside and outside the city. Today, such construction projects are being implemented as ZSD, St. Petersburg — Sortavala Highway, toll road Moscow — St. Petersburg, KAD section extension from township Gorskaya to Engelsa Avenue, etc. Judging by the property insured with our company, we see that such special-purpose road construction machinery as tractors, asphalt pavers, loading excavators, rollers and dumping trucks is actively purchased today. Secondly, cargo carriers are modernizing their motor fleets and purchasing new trucks due to higher cargo transportation volume and the need for the carriers to comply with the European Union’s Euro ecological standards regulating harmful concentrations in vehicle emissions. Therefore, truck insurance is growing as well. Thirdly, taxi companies now insure their vehicles more and more often. The reason behind this is the enactment of the Federal Law No. 69 introducing, in essence, a new taxi market participants licensing procedure. Taxi companies are modernizing their motor fleets more and more often by purchasing cars on leasing, since it is now much more beneficial for them to operate their own cars than to assume the risks associated with subcontracting private entrepreneurs who still prefer to circumvent the new law (they do not obtain special taxi operation permits from the St. Petersburg Transport Committee and do not use special vehicle markings)."