OREANDA-NEWS. A press conference "Insurance market in the context of economic development of the Saratov Region" was held by ROSNO’s South-Volga Directorate in Saratov, as part of the annual events designed for strategic planning of the company’s regional development. Mr. Dmitry Popov, ROSNO’s First Deputy General Manager, and Mr. Dmitry Lebedev, head of ROSNO’s South-Volga Directorate, answered the journalists’ questions. The press conference was also attended by Mr. Valery Adamov, responsible for business development in the Ministry of Economic Development and Trade of the Saratov Region.

According to Mr. V. Adamov, the regional insurance market has become more civilized in recent years. While previously the residents’ applications to the Ministry mainly contained complaints that OMTPL is a new sort of taxation, today the regional public makes an increasing number of proposals for improvement of insurance services, and even of legislative initiatives. At present, the said Ministry is developing a draft of the regional law "On social investments". Its purpose is to stimulate employers for more active practical use of voluntary pension insurance, medical insurance, and accident insurance. In his speech, Mr. D. Popov focused on the most important market development issues and ROSNO performance dynamics. ROSNO’s First Deputy General Manager has told that ROSNO ranks first among Allianz companies in Eastern Europe by the amount of premium collected in the non-life segment, and throughout 2004-2006 it has demonstrated most intensive growth. Answering a question about the trends in development of the Russian insurance market, Mr. Dmitry Popov noted that essential changes might take place in case of introduction of any new obligatory types of insurance (for example, insurance coverage of hazardous industrial facilities), or as a result of alteration of OMTPL tariffs.

Mr. D. Lebedev commented on the performance results shown by ROSNO’s South-Volga Directorate in 2006 as follows: "The Directorate has managed to achieve the majority of objectives and targets for 2006. It has shown 86% growth in premium collected vs. 2005, while the average Russian insurance premium growth has been within 30 to 35%. ROSNO’s Saratov branch ranked second with the market share of 9,35%, which is the best market ranking among all ROSNO branches".

Describing the insurance market’s influence on the regional economic development, Mr. D. Lebedev emphasized that ROSNO participated in regional development not only by rendering insurance services, but also by facilitating development of financial infrastructure. For example, with ROSNO’s support, the Povolzhsky Leasing Centre and the Municipal Mortgage Company were founded in Saratov. Mr. D. Lebedev largely links regional insurance market development to the region’s evolving lending system.