OREANDA-NEWS. December 8, 2009. Visiting meetings of Board of Directors and Executive Directorate of OJSC Transsiberian Reinsurance Corporation took place on 4-5 December, 2009 in Moscow region.

During the Executive Directorate meeting the heads of underwriting offices and departments of the Corporation reported on the results of Transsiberian Re’s activity for three quarters of the year. Many basic indicators showed positive dynamics. Thus, according to the results of 11 months, reinsurance premium of the Corporation reached annual rate of the previous two years, whereas paid losses decreased significantly, comparing to the previous year. 

The management expenses of the Corporation as a whole and for each separate office were estimated, noting the general economy in all branches of Transsiberian Re and in the Company as a whole, comparing to the plan. 

During the Executive Directorate meeting of the Corporation there was approved new system of bonuses. The ultimate goals of the system proposed are the professional enhancement and increase of labor productivity of Transsiberian Re employees, and finally, improvement of the Corporation’s competitive positions on the Russian and foreign markets.

The Board of Directors of Transsiberian Re considered all the items of the Agenda and approved the financial and economic plan and budget of the Corporation for 2010.