OREANDA-NEWS. October 05, 2010. The rating agency Expert RA confirmed its reliability rating for Ingosstrakh Group (including Ingosstrakh OJSIC and Ingosstrakh-M LLIC,) at А++ level “Exceptionally High Level of Reliability”.

According to the rating agency’s report high liquidity indicators, high solvency margin indicators (1.73 as of 31.12.2009 and 2.02 as of 30.06.2010), low costs of doing business (27.9% and 26.7% in 2009 and first half of 2010 respectively) have a positive impact on Ingosstrakh Group’s reliability. The Group has high profitability indicators (return on Ingosstrakh’s assets is 3.6% in 2009, return on equity is 16.5%, for Ingosstrakh-M: 2.9% and 40.3% respectively), as well as a marketable, diversified, highly reliable, cost-effective and stable investment portfolio. The Group has a developed network of branches, its activities in the regions are efficient.

 “Among the factors that enabled the company’s reliability to be estimated at the maximum level it is necessary to emphasize high reliability of reinsurance protection, its high diversification and efficiency. All major risks of the company are reinsured reliably, - says Aleksey Yanin, head of insurance companies rating division of Expert RA. - Large size of the Group’s customer base, elaborate marketing strategy, high quality of corporate governance have a favourable impact on the rating."

Let us recall that Ingosstrakh obtained the A++ rating of Expert RA for the first time in 2002.

According to Expert RA total assets of Ingosstrakh as of the end of the first half of 2010 equaled 64.6 bln roubles, Ingosstrakh-M: 1.6 bln roubles; equity capital of Ingosstrakh: 14.8 bln roubles; Ingosstrakh-M: 183 mln roubles. In 2009 Ingosstrakh collected 48.5 bln roubles of insurance premium, in the first half of 2010: 23.8 bln roubles. In 2009 Ingosstrakh-M got 14.2 bln roubles of insurance payments, in the first half of 2010: 6.9 bln roubles.

According to the data provided by the Federal Supervision Service for Insurance in the first half of 2010 Ingosstrakh holds the 3rd position in terms of total insurance premium amount among all Russian insurance companies (in 2009 – the first position), the 1st position in terms of insurance premium amount collected for overland transport insurance, the 3rd position for compulsory motor third party liability insurance, the 3rd position for voluntary health insurance, the 5th position for insurance of property of corporate persons and individuals. According to data for the first half of 2010 Ingosstrakh-M holds the 9th position in terms of the amount of insurance payments received.