OREANDA-NEWS. The insurance premiums collected by the companies of the INGO Group for H1 of 2014 totaled RUB 42 bn, which is similar to the results over the same period last year. The insurance compensation paid by the companies in the reporting period amounted to RUB 24.8 bn**, which also matches the level of H1 2013.

The INGO Group includes Ingosstrakh Insurance Company (Russia), INGO Ukraine (Ukraine), INGO Ukraine-LIFE (Ukraine), BelIngostrakh (Belarus), INGO Armenia (Republic of Armenia), Kyrgyzinstrakh (Kyrgyz Republic), INGO Uzbekistan (Uzbekistan), IC Ingosstrakh Life LLC (Russia), Emergency Insurance Company OJSC (Russia), Ingosstrakh ONDD Credit Insurance LLC (Russia).

Key financial performance indicators of Ingosstrakh Insurance Company

The insurance premiums collected by Ingosstrakh Insurance Company for H1 of 2014 totaled RUB 37.5 bn, which is 1% increase compared to the same period of 2013, including premiums in direct insurance operations in the amount of RUB 34.9 bn, which is 1% increase compared to the same period of 2013, and premiums for incoming reinsurance operations in the amount of RUB 2.6 bn, which is 5% increase compared to the same period of 2013.

The premiums collected by Ingosstrakh Insurance Company in H1 2014 in respect of voluntary insurance other than life insurance (including incoming reinsurance) amounted to RUB 32.8 bn, which is 7% increase compared to same period of 2013. The premiums included:

- RUB 5.9 bn in respect of personal insurance (12% increase);

- RUB 24.5 bn in respect of property insurance (6% increase);

- RUB 2.2 bn in respect of liability insurance (3% increase).

OSAGO (Compulsory Motor Third Party Liability) insurance premiums for H1 2014 amounted to RUB 3.6 bn, which is 30% decrease compared to the premiums in H1 2013. Premiums paid in respect of compulsory insurance of hazardous facilities owner for the damage caused by an accident at the hazardous facility amounted to RUB 463.6 m (34% decrease compared to H1 2013), and RUB 632.2 m in respect of compulsory insurance of carrier's liability to passengers, which is 28% increase compared to the premiums collected for H1 2013.

The highest growth rates in respect of premiums were recorded in the following areas:

- property insurance for legal entities (+94%);

- accident and illness insurance (+68%).

The total amount of compensation paid by Insurance Company Ingosstrakh Insurance Company for H1 2014 reached RUB 23 bn (excluding income from subrogation and recourse claims and income from the receipt of the insured property and/or its serviceable remainder), which is similar to the same period of 2013. Compensation paid in respect of direct insurance contracts amounted to RUB 21.7 bn (1% decrease compared to H1 2013), and RUB 1.3 bn was paid in incoming reinsurance operations, which is 15% increase compared to H1 2013.

In respect of voluntary insurance other than life insurance (including incoming reinsurance) Ingosstrakh Insurance Company paid RUB 20.2 bn (5%increase compared to H1 2013), including:

- RUB 3.4 bn in respect of personal insurance (2% decrease);

- RUB 15.6 bn in respect of property insurance (5% increase);

- RUB 1.2 bn in respect of liability insurance (20% increase).

Compensation payments on OSAGO (Compulsory Motor Third Party Liability) totaled RUB 2.6 bn, which is 30% decrease compared to H1 2013. RUB 16.7 m was paid in compensation under compulsory insurance of hazardous facilities owner for the damage caused by an accident at the hazardous facility (125% increase compared to H1 2013), and RUB 92.7 m in respect of compulsory insurance of carrier's liability to passengers.

Ingosstrakh Insurance Company's profit before tax for H1 2014 amounted to RUB 352.8 m. Net income was RUB 147.2 m.

The data are presented according to the national Accounting principles, including inward reinsurance and excluding the compulsory health insurance.