Expert RA Rating Agency has confirmed the A++ reliability rating (“exceptionally high level of reliability”) of SOGAZ Insurance Group, which applies to the following companies within the Group: OJSC SOGAZ, LLC SK SOGAZ-AGRO, OJSC SK SOGAZ-MED, OJSC SK SOGAZ-SHEKSNA and OJSC MSK Sheksna-M. At the same time the agency cancelled OJSC SK SOGAZ-SHEKSNA’s reliability rating (formerly A+) following the assignment of a new reliability rating within SOGAZ Insurance Group.

According to Aleksey Yanin, Head of the Insurance Rating Department of Expert RA, “high-quality reinsurance has a significant positive effect on the reliability level of SOGAZ Insurance Group. The Group’s geographic reach is regionally diversified, and its branch network is efficient.”

The Group’s financial position is marked by high levels of liquidity and return on assets (the OJSC SOGAZ’s ROA in H1 2009 reached 7.0%). The Group’s insurance portfolio is characterized by an adequate level of diversification and stability.

The Agency’s analytics also highlighted the extensive experience of the Group’s companies in the area of major loss recovery (the maximum payment made by the Group during the past 5 years amounted to RUR 746.6 million). Expert RA considers the high level of diversification and reliability of the SOGAZ’s investment portfolio as a positive indicator. SOGAZ’s high reputation, well-developed brand and leadership in the Russian insurance market are also among the factors influencing the assignment of the top reliability rating to the Group.

According to the Agency’s official report, SOGAZ Group is one of the largest universal insurance companies and the strongest player in the gas insurance segment. In H1 2009, total insurance premiums of the Group’s insurance companies reached RUR 44.1 billion (including compulsory medical insurance). By this indicator the Group has been ranked third among the Russian insurance companies. The total assets of the said companies within the Group amounted to RUR 70.6 billion as of July 1, 2009.

SOGAZ’s financial stability is also confirmed by such international rating agencies as Fitch and Standard & Poor's.