SOGAZ Insurance Group was established in 1993 and is now one of the biggest universal insurance companies of the federal scale in Russia.

 

The Group includes:

 

Confident and stable development of the Group is based on its high capitalization. The cost of theGroup’s assets in early 2008 amounted to RUR 64.2 billion, and the amount of insurance reserves achieved RUR 47.0 billion.

 

The reliability of SOGAZ has been confirmed by independent market analysts and experts. SOGAZ has been assigned reliability rating A++ by Expert RA, as well as international financial stability ratings BB+ (Standard & Poor’s, forecast Stable) and BB (Fitch Ratings, forecast Positive).

 

The Group is committed to a policy of maximum openness and financial transparency in relations with clients, shareholders and partners. SOGAZ was one of the first Russian insurers to switch to International Financial Reporting Standards. The Group’s auditor under IFRS is PricewaterhouseCoopers.      

 

SOGAZ is one of the most dynamically developing players in the domestic insurance market. As a result of 2008, the total insurance premium collected by the Group amounted to RUR 70 billion which is 23% more than in the previous year.

 

SOGAZ has taken the lead almost for all main types of insurance and has gained a considerable market share. In general, the Group has taken the first place in terms of direct voluntary (classic) insurance. According to data of the Federal Insurance Supervision Service for the first quarter of 2009, SOGAZ has been ranked first among Russian insurers with regard to all types of insurance whereby achieving a market share of 11%.

 

SOGAZ is traditionally focused on corporate sector insurance covering companies and corporations in various industries: fuel and energy, transport, chemistry, metallurgy, machine building, aerospace, banking, etc. The Group protects property interests of companies that form the backbone of the Russian economy such as OJSC GAZPROM, OJSC Gazprom Neft, OJSC NK Rosneft, nuclear power (State Corporation Rosatom) and electricity companies such as OJSC RZD, State Transportation Company Rossiya, OJSC West-Siberian Metallurgical Complex, OJSC Power Machines, OJSC Combined Machine Building Plants. In addition, SOGAZ actively cooperates with the Property Management Department of the President of the Russian Federation, Federal Customs Service, and leading domestic credit and financial institutions such as Sberbank, Vneshtorgbank, Gazprombank, and others.

 

The Group pays high attention to insurance of individuals, small and medium businesses, for which insurance programs have been developed to consider their specific features and peculiarities.

 

The Group’s development strategy is aimed at gradual integration into the international insurance market. SOGAZ is participating in a number of foreign projects: Blue Stream (construction of a major pipeline from Russia to South Europe via Turkey) and the construction of a North-European pipeline to connect West Siberian fields to consumers in Germany and other Western European countries. 

 

The important area of the Group’s foreign economic activities has become participation in projects of the Shanghai Cooperation Organization (ShOS) that is constantly gaining its international authority. SOGAZ is the only insurance company that is the member of the ShOS Business Committee where it participates in implementation of socially relevant projects within state-private partnership.

 

The important strategic objective of SOGAZ Insurance Company is development of reinsurance activity. By 2012 SOGAZ plans to the take the lead in the Russian reinsurance market; for this purpose is it actively extending its cooperation with other domestic and foreign insurers and implements the policy of gradual integration into the international reinsurance market. The Group’s policy is focused on cooperation with leading reinsurance companies of world renown and impeccable reputation such as Munich Re, Swiss Re, Hannover Re, SCOR, Lloyds of London, and others.

 

One of the key advantages of SOGAZ is high accessibility of its services in the regions. Today, the Group’s regional network includes over 600 divisions and sale offices all over Russia and one representative office in the Republic of Kazakhstan. SOGAZ has developed and is deploying a model of Unified Insurance Centers (UIC) to develop the system of high-quality, reliable and accessible insurance services in Russian regions aimed at providing a maximum range of services from various companies within the Group. In 2008 SOGAZ opened 29 Unified Insurance Centers in a number of Russian cities, and about 15 additional UICs are to be launched by 2012.

 

SOGAZ Insurance Group offers a full range of insurance services, i.e. over 130 types of compulsory and voluntary insurance. This enables the Group to utilize an integrated risk management approach and ensure comprehensive protection of financial interests of its customers. High efficiency of the quality management system adopted in SOGAZ is confirmed by the certificate of compliance with the requirements of GOST ISO 9001-2001. The certificate covers all core activities conducted by the company.

 

SOGAZ Insurance Group companies enjoy the well-deserved authority in the professional community and are members of the following specialized associations: