OREANDA-NEWS. July 21, 2008. On state departmental statistical monitoring OJSC Transsiberian Reinsurance Corporation gets in its first half of 2008 375,8 mln RUR of reinsurance premium.

The largest proportion of Corporation’s general collection belongs to property risk reinsurance. It comes to 76,8% and is estimated as 288,5 mln RUR. Incomings of reinsurance business in the field of personal insurance tot almost up to 4,9 mln RUR or 1,3% of general collection for the reporting timeframe (precisely the same index was mentioned a year formerly). Liability reinsurance premium income total as 82,4 mln RUR or 21,9% of gross premium.

Liability reinsurance interest of the corresponding period in the previous year came to the level of 6,3% that means augmentation of business in volume of 2,5 abundantly. That sort of

Growth became possible after revival of the program covering diversity of liability contracts among them public contracts with the limit of 3 mln USD.   

Total value of reinsurance indemnity of OJSC Transsib Re for the first half of the year 2008 is estimated as 112,9 mln RUR. Outpayment ratio in the mean of portfolio during corresponding period stays at the level of 30,3% (for 6 months of 2007 – 22,7%). This index in review of the whole year was 28,8%.

Losses of property reinsurance form an index of 93,2% in indemnity structure (during corresponding period – 97%). Indemnity sums for liability reinsurance and personal reinsurance evaluated in percentage ratio as 6,7% and 0,1% respectively.

 According to the 1-C-form the foreign partners gave 58% of reinsurance premiums. Russian reinsurance market had 42% of all reinsurance premium of Corporation during the period of the first half of the year 2008 (56% in the previous year)

In the structure of reinsurance indemnities foreign companies share the degree of 34,4%. Following the results of the first half of the year 2007 this index was considerably lower – 12%. Though long-term experience of OJSC Transsib Re shows that this index is subject to be highly vulnerable. Let’s say the results of 2006 shows that 70% of all aggregate payments accrued to the foreign partners having had business with the Corporation.