OREANDA-NEWS On 18 February 2009 was announced, that based on the preliminary estimates the total premiums collected by the companies within INGO Group (SOFAG (Germany), INGO Ukraine (Ukraine), Garant (Austria), IngoNord (Finland), Belingostrakh (Republic of Belarus), INGO Armenia (Republic of Armenia), Kyrgyzinstrakh (Kyrgyz Republic), INGO Uzbekistan (Uzbekistan), Ingosstrakh, IJSC (Russia), Ingosstrakh-Life, IC (Russia), Ingosstrakh-M, IC (Russia), OAO Emergency Insurance Company (Russia), OAO Medical Insurance Company EMESK (Russia)) in 2008 amounted to about USD 2.8** bln. or RUR 70.2 bln. (including RUR 5.2 bln. for inwards reinsurance), which by 22% exceeds the similar indicator for the last year. Compensations paid by these companies in the reporting period equal USD 1.8 bln. or RUR 44.6 bln., which by 33% exceeds the same indicator in 2007.

The aggregate number of premiums collected by the Russian companies within INGO Group (Ingosstrakh, IJSC, ООО Ingosstrakh-M, IC, ООО Ingosstrakh-Life, IC, OAO Emergency Insurance Company, OAO Medical Insurance Company EMESK) for direct insurance operations and risks accepted for reinsurance in 2008 totaled RUR63.2 bln., which is 24% more than the respective indicator for 2007, including RUR15.4 bln collected by ООО Ingosstrakh-M and OAO Medical Insurance Company EMESK. Compensations paid by the Russian companies for four quarters of 2008 totaled RUR39.5  bln., which by 33% exceeds the 2007 figures.

Based on the preliminary estimates premiums collected in 2008 by Ingosstrakh’s foreign subsidiaries within INGO Group (INGO Group (SOFAG (Germany), INGO Ukraine (Ukraine), Garant (Austria), IngoNord (Finland), Belingostrakh (Republic of Belarus), INGO Armenia (Republic of Armenia), Kyrgyzinstrakh (Kyrgyz Republic), INGO Uzbekistan (Uzbekistan)) reached RUR7 bln. growing by 9% as compared to 2007 data. Compensations paid by these companies exceeded RUR5.1 bln. showing  30% growth versus 2007.

The cumulative premiums collected by Ingosstrakh, IJSC in 2008 reached RUR46.3 bln., which is 19% more than the 2007 figures, including RUR42.1 bln. received for direct insurance operations (20.1% growth) and RUR4.2 bln. for inwards reinsurance (8.6% growth).

Premiums collected by Ingosstrakh for voluntary insurance other than life insurance (including inwards reinsurance) increased by 19.3% and amounted to RUR41.2 bln., including RUR5.9 bln. collected for private insurance (except life insurance)

(30.8% growth versus 2007), RUR31.8 bln. for various types of property insurance (19.6% growth), RUR3.5 bln. for voluntary liability insurance (1.9% growth).

Ingosstrakh’s premiums for compulsory civil liability motor-vehicle insurance (MTPL) reached RUR5.1 bln. (15.4% growth).

Total compensations paid by Ingosstrakh in 2008 amounted to RUR24.7 bln., growing 28.1% as compared to 2007.

Compensations paid by Ingosstrakh for voluntary insurance other than life insurance (including inwards reinsurance) amounted to RUR22.0 bln. growing by 29.8% as compared to the previous year, including RUR3.7 bln. paid under private insurance (except life insurance) (33.4% growth), RUR 16.6 bln. under property insurance (28.2% growth) and RUR1.7 bln. (38.9% growth) paid under voluntary liability insurance. MTPL payments in 2008 amounted to RUR 2.7 bln. (14.5% growth).

Assets of Ingosstrakh, IJSC, Ingosstrakh-Life, Ingosstrakh-М, OAO Emergency Insurance Company, OAO Medical Insurance Company EMESK grew by 14% and constituted RUR62.9 bln. in the reporting period. Growth of premium reserves of the Russian companies within INGO Group reached 14%, while in the absolute terms the premium reserves equal RUR45.9 bln. The equity capital as at 1.01.2009 reached RUR 11.9 bln., which by 4% exceeds the similar figure as at 1.01.2008.

Ingosstrakh’s EBIT based on the data for the four quarters of 2008 constituted RUR1.1 bln., with the net profit of RUR0.7 bln. These results were achieved in the midst of the global financial crisis and include the negative revaluation of securities against the market value as at the year end.