OREANDA-NEWS. September 23, 2008. Branch “European Bureau” of OJSC “Transsiberian Reinsurance Corporation” paid  “Geopolis” Insurance Group 5.5 mln rubles of reinsurance compensation on the fact of the damage of sea vessel “Shemut” (type – dry-cargo vessel; the year and place of construction – 1985, Holland; displacement – 3913t). Payment is made within the limits of facultative reinsurance contract.

The insured event took place in March, 2008. While transportation of cargo vessel from Japan to China, ship company found the income of outside water to the engine space. After examination in the dock the cause of damage was appeared to be wind of fishing net around the screw-propeller, which resulted in multiple damages of screw-steering gear.

After receipt of full loss portfolio “Transsiberian Re” made a decision to pay RUR 5.5mln reinsurance indemnity of their share.