OREANDA-NEWS. April 8, 2011. According to statistics, in 2010 the total fees collected by insurance companies incorporated in Insurance Group SOGAZ (OJSC SOGAZ, LLC IC SOGAZ-Life, OJSC IC SOGAZ-Med, OJSC IC SOGAZ-Agro, OJSC IC SOGAZ-Sheksna, OJSC MIC Sheksna-M) amounted to RUB99.56 billion, which is an 18% growth year-on-year. The total amount of indemnities paid by the Group grew by 22% against 2009, to RUB73.47 billion.

Property insurance premiums rose by 19%, to RUB29.44 billion. In voluntary personal insurance (excluding life insurance), fees increased to RUB18.89 billion (14% growth). The growth of compulsory health insurance fees was 20% (RUB39.4 billion in 2009, RUB47.47 billion in 2010). Following an increase of nearly 40% in 2009, the growth of liability insurance fees dropped to 8% (RUB3.75 billion in 2010 against RUB3.47 billion in 2009).

The total value of assets of insurance companies of SOGAZ Group increased by 17%, to RUB91.81 billion. The group’s insurance reserves grew up to RUB57.32 billion (up 13%). The aggregate equity of the group increased by 27%, to RUB21.08 billion. Over 12 months of 2010 the group’s return on investments amounted to RUB4.43 billion, which is 48% higher than in 2009. The net profit of SOGAZ Group in 2010 was RUB5.38 billion (RAS), which is a 21% increase year-on-year (RUB4.45 billion).

“Over the past year SOGAZ has entrenched its position in the corporate insurance segment. The group won the major tender for the insurance of the property of OJSC Russian Railways, with the total coverage over RUB6 trillion. At the end of the year, SOGAZ’s share in the voluntary insurance market for the first time exceeded 10%”, says Vadim Yanov, Chairman of the Management Board, SOGAZ Insurance Group. “Considerable investments were made in international development: at the end of the year SOGAZ became a co-owner of the German-based insurer SOVAG, which, among other things, has provided for us an easier access to Western reinsurance capacity. Another important event was the launch of SOGAZ’s international medical center in Saint Petersburg, which has paved the way to creating our own medical clinic network”.