SOGAZ has acquired the largest reinsurance capacity in the market, SOGAZ informed.
The program capacity under the contracts denominated in Russian rubles accounting for the bulk of SOGAZ's portfolio is increased from RUB 11.5 billion to RUB 15 billion, which is the largest capacity in the Russian market, the statement emphasizes.
The reinsurance covers all types of property risks, including the risks of breakdowns of machines and production interruptions, protecting SOGAZ's key corporate clients in the oil and gas sector, electric power industry, petrochemistry, metallurgy and other segments.
SOGAZ Insurance Group unites insurance companies SOGAZ INSURANCE, JSC TRANSNEFT INSURANCE COMPANY, Insurance Company IC ALROSA (Limited Liability Company), OJSC SK SOGAZ-MED, SK SOGAZ-LIFE LLC, SOT-TRANS LLC, SOVAG (Germany), SOGAZ a.d.o. Novi Sad (Serbia), International medical center SOGAZ, service medical company SOGAZ-Medservice. The group's regional network comprises more than 800 departments and outlets all over Russia.
IFRS net profit of SOGAZ Group for 2016 grew by 7% year-on-year to RUB 23.6 billion. Aggregate premiums increased by 13%, The group's assets reached RUB 278.4 billion (+14%).