OREANDA-NEWS. April 1, 2011. Ingosstrakh OJSIC became a general partner of XV All-Russian Conference on Reinsurance that was held in Moscow on March 24-25, 2011. The event, organized by the All-Russian Insurers’ Union, has been held since 1996 and is the largest public event for Russian reinsurers and their foreign colleagues. The subject of the anniversary 15th conference was “Reinsurance in Russia: results of 15 years of development, sources of growth and predictions”.

The event was attended by representatives of 119 insurance and reinsurance companies, brokers and experts of the market, public regulation bodies, public organizations and mass media from 18 countries - Azerbaijan, Bahrain, Belarus, Great Britain, Germany, Ireland, Kazakhstan, Cyprus, Malaysia, Poland, Russia, Slovenia, USA, Tajikistan, Uzbekistan, Ukraine, France, Switzerland. The specialists of Ingosstrakh OJSIC took an active part in the work of the conference and presented reports.

The conference dealt with such questions as possible sources of growth of the Russian reinsurance market, situation with tariffs on the Russian and international reinsurance markets, price and quality of reinsurance protection in the light of Solvency II, prospects of the Russian reinsurance market as an alternative capacity for international reinsurers, and also problems of insurance markets interaction on the post-Soviet territory. During the plenary meeting, an estimate of reinsurance development in Russia was presented by the All-Russian Insurers’ Union, and also the analysis of insurance market development prospects as part of the RF economic space was introduced by RF Ministry of Finances.

In the course of section work, the event participants discussed fundamental problems of public regulation of reinsurance agreement, disputes on reinsurance agreements, including western experience, in particular, ex gratia payments, reservations about cancellation of coverage by reinsurers if sanctions are imposed against this or that country. Separate round-table discussions were devoted to the insurance of surety and bank risks in connection with issuing bank guarantees; insurance and reinsurance of agricultural risks; insurance and reinsurance of liability, and other subjects.

Ingosstrakh OJSIC is the largest company in Russia by the volume of incoming reinsurance. In 2010, over 3.4 bln. rubles of premiums were collected from incoming reinsurance. The insurer is going to further develop reinsurance operations in RF and CIS countries, and also in the far foreign countries.