SOGAZ Insurance Company acquired 45.9% of shares of the Black and Baltic Sea Insurance Joint-Stock Company SOVAG (SCHWARZMEER UND OSTSEE Versicherungs-Aktiengesellschaft SOVAG) from Volga Resources SICAV SIF S.A. Investment Fund. Vadim Yanov, Chairman of the Board of Directors of SOGAZ, was elected a member of the SOVAG Supervisory Council.
Fitch Ratings has raised the rating of financial stability for OJSC SOGAZ from BB to BB+. The company’s financial stability rating by the national scale has also been raised from AA-(rus) to AA(rus). The forecast on both ratings is Stable.
According to the statistics, in the first nine months of 2010 the aggregate premiums collected by insurance companies of the SOGAZ Insurance Group (OJSC SOGAZ, LLC IC SOGAZ-Life, OJSC IC SOGAZ-Med, LLC IC SOGAZ-Agro, OJSC IC SOGAZ-Sheksna, OJSC MIC Sheksna-M) amounted to RUB78.37 billion, which is a 22% growth year-on-year. The total payments of the group have grown by 19% to RUB51.61 billion.
SOGAZ Insurance Company will be an official partner and insurer of INTERPOLITECH-2010, the 14th International Exhibition of Means of Providing State Security, which will be held from 26 till 29 October 2010 in the Russian Exhibition Centre in Moscow.
SOGAZ Insurance Group has been awarded a three-year general contract for insuring the property of OJSC RZhD, one of the biggest Russian corporations.
The Insurance Group continues cooperation with the League during the 2010-2011 season
SOGAZ Insurance Group has signed an insurance contract for drilling operations with LLC Gazflot (Moscow), which is drilling wells on the Atipayutinskoe, Kirinskoe and Tota-Yakhinskoe gas deposits.
According to the statistical report, the total fees collected by insurance companies of the SOGAZ Insurance Group (OJSC SOGAZ, LLC Insurance Company SOGAZ-ZHIZN, OJSC Insurance Company SOGAZ-Med, LLC Insurance Company SOGAZ-AGRO, OJSC Insurance Company SOGAZ-SHEKSNA, OJSC Medical Insurance Company Sheksna-M) for the first six months of 2010 amounted to RUB 55.12 billion, 24% up from the same period last year. The total amount of the Group's insurance payments is up 17% and amounts to RUB 32.87 billion.
SOGAZ Insurance Group has signed a building and assembly risk insurance contract with OJSC Stroytransgaz which is executing a large scale construction project including three ultrahigh-voltage substations and three lines for power transmission from the 4th block of the Kalinin APP to the City of Moscow and Moscow Region.
The Perm Branch of SOGAZ Insurance Group has signed a number of insurance contracts with OJSC Mineral Fertilizers (Perm), one of the leading chemical companies in Russia.