OREANDA-NEWS. SOGAZ Insurance Group was a winner of the competition entitling it to insure property of subsidiaries of Severstal PJSC: Severstal-Metiz OJSC, REDAELLI SSM JSC, Izhorsk Pipeworks CJSC, Pipe Section Plant Sheksna LLC, Karelskiy okatysh (Karelian Steel Pellet) JSC, Olkon JSC. SOGAZ's total liabilities amount to RUB 70 billion.

SOGAZ will insure production, extracting and property complexes of enterprises, specialized equipment, rail road and partially motor transport for one year period. The property complexes will be insured against all risks, the specialized equipment and rolling stock will be insured in case of the specified risks. Besides the risk insurance services against disruption in production will be rendered to some enterprises of Severstal Group.

According to Nikolay Galushin, the First Deputy Chairperson of the Management Board of SOGAZ, SOGAZ is winning the competition entitling to insure the subsidiaries of Severstal for the second year running.

"We managed to implement the program within which there is a capacity of centralized administration of all insurance agreements of a number of subsidiaries of Severstal, which, for sure, increases the transparency and efficiency of the insurance. The Program considers the specific activity of each group enterprise, and, considering the property cost value, in considerably differs from the program for the main industrial enterprise of the group, namely for Cherepovets Steel Mill, which is also insured in SOGAZ", - pointed out Nikolay Galushin.

A multiple years of the mutually beneficial cooperation unite SOGAZ Insurance Group and Severstal. SOGAZ during five years provides insurance coverage for the property and liability of the enterprise as well as life and health of the company's employees. Besides SOGAZ provides an insurance coverage for the manufacturing and property complex of Cherepovets Steel Mill making a part of Severstal. The relevant insurance agreement providing for the liability of almost USD 18.9 billion was extended in April 2015.