OREANDA-NEWS. April 18, 2011. According to preliminary data for 12 months of the last year, charges of Ingosstrakh OJSIC for insurance of aviation and space risks amounted to 2.49 billion rubles that is 14% more in comparison with 2009.

Premium amount of aviation insurance increased by 16% in comparison with the year before the last year, and reached 2.1 billion rubles, of which 1.202 billion rubles fell within direct insurance. In particular, premiums income for aircraft hull insurance made 730 million rubles, carriers’ liability insurance – 382 million rubles, airports owners’ liability insurance – 90 million rubles.

In 2010, Ingosstrakh OJSIC continued collaboration with such major aircraft companies as S7, Globus, VIM-AVIA, NordStar, Kuban Airlines. Besides, during the past year, this list was filled with new customers – such as low-cost carrier Sky Express.

Large number of insurance contracts for major aircraft manufacturers’ risks was concluded in the field of aviation industry insurance, including those entering into the United Aircraft Corporation (UAC): Sukhoi Company, Irkut Corporation, Novosibirsk Aircraft Production Association n.a. Chkalov.

Among the insured objects, there is the 5th generation pursuit plane, as well as the range of Su-30, Su-24 and Su-34 planes.

In 2010, Ingosstrakh OJSIC won a major tender for liability insurance of State corporation for air traffic management in the Russian Federation FSUE. The agreement was concluded for a period of 3 years.

In 2010, 260 losses with respect to aviation insurance were claimed. The total amount of losses compensated on aviation risks made 359 million rubles.

The following payouts can be mentioned among the major settled losses: 31 million rubles in connection with the crash of the Mi-8T helicopter in the result of collision with a mountain in Afghanistan, 19 million rubles in connection with constructive total loss of the helicopter Mi-8T in the result of emergency landing near Talakansk deposit, 16 million rubles in connection with the nose landing gear damage of the aircraft AN-124-100 Ruslan at the airport of Chandigarh (India).

Within the accounting period, Ingosstrakh OJSIC, being the leader of the Russian insurance market for space risk, has participated in the insurance and reinsurance of many major space programs and projects. In particular, such as the insurance of orbital exploitation of 7 spacecrafts of the Space communication FCUE, insurance of launch and orbital operation of Arabian spacecraft "YAHSAT 1A" with partnership share of 10 million dollars, insurance of orbital operation of the first Venezuelan spacecraft of television broadcasting, radio broadcasting and communications “Venesat-1", with partnership share of 15 million dollars, as well as concluding insurance contracts with the company GTSS for the loss of income.

The premium amount for space risks insurance made 440 million rubles, including 390 million rubles for direct insurance. That is 6% more compared with indexes of 2009. Aggregated amount of payments for space risks in the past year amounted over 107 million rubles. Among the largest insured events, the payout of 2.2 million dollars for partial destruction of Indonesian communications satellite PALAPA Dcan can be mentioned.

Space communication FCUE remains the largest client of Ingosstrakh OJSIC. Following clients can be also mentioned: GTSS, ARIANESPACE, Intersputnik MOKS, Space Forces of the Russian Federation, TSENKI FCUE and others.

According to Anton Almazov, head of the space and aviation risks insurance of Ingosstrakh OJSIC, with regard to the space insurance, tendency of conditions liberalization and capacity increase continued in 2010 at the international market of space insurance. However, with respect to Russian project, rates and conditions remained rigid as before, which is caused by losses related to total wreckage of the spacecraft (SC) KazSat and partial wreckage of the SC Express-AM2.

Currently, the attractiveness of the Russian insurance market for placing of international projects have not been weakened and is gradually growing, the main obstacle in this case continues to be a lack of international financial strength rating and lack of capacity of the most Russian companies

Among the tendencies of 2010 in the context of aviation industry, the most significant was the tendency of increasing volumes of military aircraft production and special purposed aircraft, as well as the development of totally new aircraft, said Anton Almazov.

On the occasion of the International Cosmonautics Day, Ingosstrakh OJSIC congratulates its partners, clients, and everyone engaged in aerospace industry, and wishes them success in implementing the most ambitious plans and projects.