OREANDA-NEWS. August 3, 2009. During the last five years OJSC Transsiberian Reinsurance Corporation receives more than half of its gross premiums from abroad (2008 – 55,5%; 2007 – 54%; 2006 – 68%; 2005 – 67%). Following the results of the first half year of 2009, the tendency remained the same; moreover, foreign indicators grew regarding the volume and Transsiberian Re share. 

According to the preliminary data, during the first six months of the current year Transsiberian Re reinsurance premium collected from foreign companies made up 499.6mln rubles or 73.5% of gross premiums. During this period the company was cooperating with 119 foreign cedents, leave alone brokers.

More than half of Transsiberian Re gross premiums (59.5%) came from CIS countries, not including Russia. Thus, the Corporation cooperates with 15 Kazakhstani insurers, including almost all leaders of the local market. Ukrainian market is on the second place, regarding the number of partners. Despite unfavorable changes in the legislation and economic crisis, the Corporation continues to work with 10 Ukrainian insurers.      

Incomings from Central and Eastern Europe in 1 half year of 2009 made up 6.5%. It’s worth dwelling on on-going increase of collection of premiums in Czech Republic, which is responsible for 4% of gross premiums written. International Bureau branch, which started its work in Prague three years ago, doubles the volume of premiums written, mainly in Czech Republic.

Almost the same amount as in CEE, come from cedents of Asia – 6%, among which Turkey takes the lead. Premiums from Western Europe make up 1%. 0.5% belongs to the insurers from the American continent (Mexico, Latin America, Caribbean countries). Reinsurance premiums from African companies are small amount.

Totally, the geography of Transsiberian Re inward reinsurance covers 45 countries, excluding Russia.