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Main Page  /  SOGAZ Insurance Group Milestones

SOGAZ Insurance Group Milestones


1993

  • On October 25, 1993, AOZT European and Asian Insurance Company of Gas Industry was registered (registration certificate series MRP No. 027793).

1994

  • On February 4, 1994, the company obtained a licence for 15 types of insurance, issued by the Federal Insurance Supervision Service of the Russian Federation.
  • In 1994 the company collected RUR 21 billion in insurance premiums, thus becoming the 75th in the insurers’ ranking.
  • Excerpt from the report presented by Serguey E. Sarkisov, President of the SOGAZ Insurance Company, at the annual general meeting in 1994:
    “The biggest result and the main achievement of the past year, as I see it, is the buildup and selection of the company’s staff who are some of the best qualified in Russia.”

1995

  • On March 22, 1995 the Moscow Registration Chamber registered Open Joint-Stock Company Insurance Company of Gas Industry (OJSC SOGAZ), under No. 22793, RP. The company became the legal successor of AOZT European and Asian Insurance Company of Gas Industry.
  • Vladimir S. Denga was appointed General Director of the company.
  • The volume of the collected premiums amounted to RUR 114.2 billion; the indicator of 1994 was thus multiplied by 5.5.

1996

  • By Decree No.16 of the Management Board of RAO Gazprom “On the development of insurance business in RAO Gazprom”, dated February 22, 1996, the directors of subsidiaries and joint-stock companies of RAO were charged with providing insurance coverage of their enterprises’ property.
  • Excerpt from the report by Vladimir S. Denga, General Director, presented at the annual general meeting in 1996:
    “1996 has been a rather difficult year, and not only for RAO Gazprom, but also for the insurance market. Many insurance companies that had specialized in minimizing tax deductions on wages, were liquidated… others did not follow the requirements of Rosstrakhnadzor and lost their licenses.
    From the very beginning, SOGAZ Insurance Company has based its activities on classic insurance principles, so the above mentioned factors that turned into a tragedy for some companies have not significantly influenced SOGAZ. The company has continued its dynamic growth.”

1997

  • The number of types of insurance coverage licensed by OJSC SOGAZ increased to 37, while the number of concluded insurance contracts increased from 21 thousand to 54.9 thousand.
  • The total scope of liability of OJSC SOGAZ amounted to over RUR 20 trillion.
  • Excerpt from the report by Vladimir S. Denga, General Director, presented at the annual general meeting in 1997:
    “The rating is a relative indicator. If we wanted to head it as rapidly as possible, we could have insured any risks, created numerous subsidiaries, insured risky financial transactions. Our concept is to create a company that would have the reputation of a reliable, stable and trustworthy partner.”

1998

  • Excerpt from the report of the audit commission, May 19, 1999:
    “In 1998, the SOGAZ Insurance Company lost RUR 4.746 million due to the national financial crisis, as well as to the creation of a provision for the depreciation of securities… The data provided by the performed financial calculations let us confirm the company’s liquidity and responsibility.”

1999

  • SOGAZ made one of the biggest payments in the history of modern Russian insurance: it amounted to USD 50.5 million. The reliable reinsurance protection allowed it to fully reimburse OJSC Gazprom for the loss of one of its communication satellites Yamal.

2000

  • SOGAZ paid RUR 780 million in insurance indemnity, related to gas transit through Ukraine (due to unauthorized withdrawal of exported gas).
  • In that year, OJSC SOGAZ became the absolute leader in terms of indemnities paid, which totaled RUR 2.9 million. Once more, the company proved its reliability and trustworthiness.
  • OJSC SOGAZ became the 9th on the market in terms of premiums collected.
  • OJSC Gazprommedstrakh became the 4th, having collected RUR 1.2 billion in insurance premiums.

2001

  • The company developed and introduced a program of long-term (accumulating) life insurance at its own expense, targeting chiefly gas industry employees.

2002

  • In June 2002, the company was headed by Aleksey E.Olshansky who formerly occupied the position of Financial Director (Deputy for Financial Matters).
  • As part of the strategy for entering the open market, the corporate style of SOGAZ was developed, in accordance with the positioning and the mission of the company.
  • Important market contracts were concluded with such companies as TNK-BP.
  • In terms of the total amount of collected insurance premiums, SOGAZ became the 16th, and 7th for insurance other than life insurance.

2003

  • Evgeny G.Leskin was appointed General Director of OJSC SOGAZ.
  • OJSC Gazprommedstrakh became a member of the SOGAZ Insurance Group; its objective was defined as developing compulsory health insurance as part of the Group.
  • LLC Gazprommedservice was created to provide healthcare for the Group’s clients.
  • The Expert RA rating agency assigned OJSC SOGAZ the highest stability rating A++ for the first time.

2004

  • SOGAZ obtained a licence issued by the Federal Security Service for performing work related to the usage of state secrets.
  • IC SOGAZ-Life, a company specializing in life insurance, was registered.
  • An intergrated program for insuring individuals was developed.
  • SOGAZ became an official partner of the Russian boxing team.
  • The total volume of premiums collected amounted to RUR 11.9 billion.

2005

  • SOGAZ completed the payment of insurance indemnity to LLC Orenburggazprom and LLC Uraltransgaz, which amounted to RUR 750 million, in connection with fire at a helium plant that occurred in August 2004.
  • The Board of Directors of OJSC SOGAZ adopted the development strategy of the Insurance Group up to 2007.
  • Russian Railways, RAO UES of Russia, Rosatom, Rosneft, the Russia transport company became clients of OJSC SOGAZ.
  • The SOGAZ Insurance Group purchased a 85% share in the authorized capital of LLC IC Neftepolis.
  • A sales office of the SOGAZ Insurance Group was opened on the Rublevo-Uspenskoye Highway, Zhukovka village.

2006

  • SOGAZ became an official partner of the Zenit football club.
  • The SOGAZ Insurance Group began implementing the National Program of support and restoration of the Russian cultural heritage.
  • The Group took part in the Agricultural Russian Insurance Pool (RSSP).
  • SOGAZ started implementing the new Program of insuring small and medium businesses, SOGAZ-Enterprise.
  • Vadim E. Yanov was elected Chairman of the Management Board of OJSC SOGAZ.

2007

  • The Group won the tender for the right to conclude insurance contracts of OJSC Gazprom and its subsidiaries in 2007-2011.
  • AB Gazprombank (CJSC) and the SOGAZ Insurance Group started a special program for Gazprombank card holders.
  • The authorized capital of the SOGAZ Insurance Group increased from RUR 935,116,500 to RUR 3,085,884,450.
  • The Board of Directors of SOGAZ approved the development strategy of the Group up to 2012.

2008

  • SOGAZ won the tender for the right to conclude property insurance contracts with OJSC Mosenergo and its employees for the period from 2008 to 2011.
  • Fitch Ratings assigned OJSC SOGAZ – key member of the SOGAZ Insurance Group – a “BB” international financial stability rating (FSR) and “AA-(rus)” national FSR, outlook: stable.
  • SOGAZ won the tender for the insurance the property of 17 SIBUR Group companies, for the total amount of RUR 322.7 billion.
  • Vadim Yanov, Chairman of the SOGAZ Insurance Group Management Board, was elected Chairman of the Supervisory Council of the Russian Nuclear Insurance Pool (RYaSP).
  • The Group signed a contract for off-shore energy projects reinsurance that enables it to insure risks for the total amount of up to USD 1 billion.
  • SOGAZ Insurance Group became the general insurer for the Continental Hockey League (CHL) in the 2008-2009 season.
  • Standard & Poor’s assigned OJSC SOGAZ – key member of the SOGAZ Insurance Group – a “ÂÂ/ ruAA” credit rating, outlook: stable.
  • SOGAZ Insurance Group celebrated its 15th anniversary. Socially oriented festivities took place across the country.

2009

  • Processing (reactor) equipment of OJSC Energoatom Concern insured for RUB 30.6 billion.
  • SOGAZ insured the construction of a Moss CS 50 Mk II semi-submersible floating drilling rig for the Stockman project for RUB 36.7 billion.
  • OJSC SOGAZ obtained GOST ISO 9001-2001 (ISO 9001:2000) conformity certificate, proving the high level of the quality management system used by the company.
  • IC Neftepolis renamed into IC SOGAZ-AGRO.
  • Sheksna Insurance Group, a major insurer in the northwest of Russia, joined SOGAZ Insurance Group.
  • Construction of the main facilities for 2012 APEC summit in Vladivostok insured for RUB 62 billion.
  • SOGAZ Insurance Group became the General Partner and insurer of the Kontinental Hockey League (KHL) for the 2009-2010 season.
  • SOGAZ insured the construction of Stan-5000, the first metallurgical complex in Russia producing broad tube sheets, for EUR 1 billion.
  • Standard&Poor's increased the forecast for SOGAZ rating from “Stable” to “Positive”.
  • SOGAZ obtained accreditation as a reinsurance company of the Insurance Supervision Service of the Bolivarian Republic of Venezuela (SUDESEG).
  • Fitch Ratings changed SOGAZ’s rating forecast from “Stable” to “Positive”.
  • SOGAZ and Vietnamese PetroVietnam Insurance Joint-Stock Corporation (PVI) entered into a contract for insurance and reinsurance of power industry projects.
  • Cooperation Agreements signed with administrations of seven regions: Irkutsk Region, Vologda Region, Yaroslavl Region, Tomsk Region, Volgograd Region, Bryansk Region and the Republic of Tatarstan.