Insurance

Dynamic of the Gross Written Premium of the INGO Group (IAS)
	2005	2006	2007
ml. Rubles	31 883	37 956	44 363
Growth dynamics, %	18	19	17

Open Joint Stock Insurance Company (IJSC) Ingosstrakh has operated in the international and domestic markets since 1947. Over the period of its existence, Ingosstrakh has grown from a modestly sized administrative division of the USSR Ministry of Finance into one of the largest insurers operating in the territory of the Russian Federation, having a broad network of regional branches. Today, it is a universal federal-scale insurer and leader in the Russian insurance market based in terms of the size of collected premiums, the amount of actual insurance compensations made and by the key balance sheet parameters.

Ingosstrakh's outstanding business reputation has been validated by Standard & Poor's International Agency which awarded the company with financial stability and credit contractor ratings of BBB-. Ingosstrakh's Russian scale rating is as high as ruAA+. Expert RA, a Russian rating agency, has once again assigned to Ingosstrakh the highest A++ rating, after first awarding the same rating back in 2002.

While retaining its leadership in the domestic insurance market throughout its years of operation, Ingosstrakh has succeeded in establishing firm relationships with its clients and has won trust of millions of individual clients and tens of thousands of corporations.  Today, the insurer's clients are large manufacturing facilities, large importers and exporters, transport and wholesale outlets, banks, and branches of transnational corporations. The majority of them have been underwritten by the company for many years. Ingosstrakh offers a full spectrum of insurance services. Comprehensive insurance protection of the clients' financial interests is provided on the basis of licenses covering the all types of insurance services as stipulated in the RF "Law on Insurance Business in the Russian Federation" and relevant federal-level provisions on reinsurance.

IJSC Ingosstrakh JSC commits to cover the full volume of possible client claims by virtue of its financial stability, large equity base of the company, and reliable reinsurance programs. Among its reinsurance partners are leading international companies: AIG, Allianz, AXA, CCR, Gen Re, Hannover Re, syndicates Lloyd's, Munich Re, Partner Re, QBE, SCOR, Swiss Re, Transatlantic Re, XL Re, etc.

The services of Ingosstrakh are available throughout the territory of the Russian Federation due to a broad regional network of 83 branches. The company has offices in 221 cities of Russia. In addition to this, the companies in which Ingosstrakh is a shareholder operate in the markets of nearby and distant countries. The international insurance group INGO includes JSC SK Ingo Armenia (Armenia), CJSC Belingosstrakh (Belarus), САО Kyrgyzinstrakh (Kyrgyz Republic), JSC Ingo Ukraine (Ukraine), JSC SK Standard Insurance Group (Uzbekistan), VAG Garant (Austria) and VAG Sovag (Germany). Company representatives operate in Kazakhstan, Azerbaijan, China and India.

Since 2006 Ingosstrakh has been developing the project to create a proprietary network of medical clinics under the brand "Be Healthy". The creating of this network is necessitated by the deficit in the good-quality, modern medical centers, and is geared towards further expansion of voluntary medical insurance business. At this moment, the company operates two multi-disciplinary clinics in Moscow.

In 2007 IJSC Ingosstrakh acquired asset management company Ingosstrakh Investment (the name prior to acquisition was asset management company Pifagor), which was founded in 1997. Ingosstrakh Investments' goal is to become one of the top three players in the asset management market.