OREANDA-NEWS. On July 13, 2007 the SOGAZ Insurance Group represented by its St. Petersburg branch has been declared winner in a public tender organized by the Arctic and Antarctic Research Institute (AARI) for the placement of a government order to insure the flagship of the Russian polar fleet Admiral Fedorov, reported the press-centre of SOGAZ.

As per the tender terms, SOGAZ will insure the ship against destruction and damage of the hull, machines and mechanisms. The balance cost is 7,4 million dollars. The Academic Fedorov, built at the Rauma-Tellak shipyard in 1987, is a unique expedition vessel capable of reaching the North Pole without the assistance of an ice-breaker.

Leading Russian insurers participated in the tender. When selecting the winner, the tender committee considered the insurance terms offered, the availability of a developed network of branch offices and compliance with the eligibility criteria.

Igor Akulin, Director of the SOGAZ Insurance Group St. Petersburg branch, commented on the tender results, “SOGAZ has a vast experience in insuring scientific vessels, ice-breakers and specialized ships. An insurance partner of AARI since 1996, SOGAZ was able to conduct professional risk assessment and come up with an offer that fully satisfied the needs of the party to be insured”.

Russian P&I pool of which SOGAZ is a member.