OREANDA-NEWS. On 13 August 2008 was announced, that according to preliminary results, the size of consolidated written premium of companies within INGO Group, namely IJSC Ingosstrakh (Russia), SOVAG (Germany), INGO Ukraine (Ukraine), Garant (Austria), OJSC Emergency Insurance Company (Russia), Belingosstrakh (Belarus), IC Ingosstrakh-Life (Russia), IC Ingosstrakh M (Russia), OJSC MSC EMESK (Russia), INGO Ukraine Life (Ukraine), LLC Standard Insurance Group  (Uzbekistan), in 1H 2008 amounts to ca. USD 1 1.44 bn USD, or RUR 34.5 bn, which is 24.3% higher than the same parameter reported for 1H 2007. The size of compensations paid by the companies during the period equal USD0.88bn, or RUR21.0bn, or 33.5% more than during the same period last year.

The aggregate written premium of Russian companies within INGO Group (OJSC Ingosstrakh, LLC IC Ingosstrakh M, OJSC Emergency Insurance Company, OJSC MSK EMESK) in direct insurance and reinsured risks in 1H 2008 is RUR31.1bn, or USD1.3bn, which is 26.2% higher than in 1H 2007, including RUR7.1bn (USD0.3bn) reported by LLC IC Ingosstrakh M and OJSC MSK EMESK. The compensations paid by the Russian companies in the group in 1H 2008 amount to RUR18.0bn, or USD0.75bn, which is 29.3% higher than in 1H 2007.

The summary size of written premium in OJSC Ingosstrakh in 1H 2008 is RUR23.0bn, or 20.4% above the results achieved in 1H 2007, including RUR20.8bn in direct insurance (+23.0%) and RUR 2.2bn (+0.4%) in incoming reinsurance.

In voluntary insurance other than life insurance (including incoming reinsurance) Ingosstrakh’s premiums increased 20.6% to RUR20.6bn, including premiums in private insurance (other than life insurance) of RUR3.4bn (+23.8% vs. 1H 2007), premiums in property insurance of RUR15.3bn (+23.4%), and premiums in voluntary liability insurance of RUR1.9bn (-1.2%).

In compulsory civil liability motor vehicle insurance, Ingosstrakh’s premiums amount to RUR2.4bn (+18.3%).

The total amount paid in compensations by OJSC Ingosstrakh in 1H 2008 is RUR11.3bn, this figure demonstrating an increase of 20.4% over 1H 2007. The compensations made in relation to direct insurance arrangements amount to RUR9.5bn, while the size of the same in incoming reinsurance is reported to reach RUR1.8bn.

In voluntary insurance other than life insurance (including incoming reinsurance) the compensations made by the company total RUR10.1bn, including RUR1.7bn in private insurance, RUR7.7bn in property insurance, RUR0.7bn in voluntary liability insurance. The size of compensations in 1H 2008 in relation to vehicle owner liability insurance claims amount to RUR1.2bn.

During the period, the value of assets of IJSC Ingosstrakh, Ingosstrakh Life, Ingosstrakh M, OJSC Emergency Insurance Company and OJSC MSK EMESK increased by 18.5% vs 1H 2007 to RUR61.0bn. The increase of the size of premium reserves of Russian companies within INGO Group is 13.9% vs. the same in 1H 2007. In absolute terms, the size of premium reserves is RUR42.8bn. The size of equity as at 01.07.2008 grew to reach RUR 13.9bn, demonstrating an increase by 36.9% over the same as at 01.07.2007. The net profit generated by the companies in 1H 2008 amounts to RUR2.5bn.