Official statement of Ingosstrakh
In connection with the several media's publication of unreliable information about Ingosstrakh’s direct insurance operations on the territory of Israel, the company officially declares that this information is contrary to the facts.
OJSC Ingosstrakh has accepted only reinsurance risks from Israel insurance market. Broker company “Overseas Insurance Consultants Ltd”, registered in the Great Britain, has provided the necessary support to reinsurance deals, usual in such cases. According to Israel legislation (Control of Finance Services (Insurance) Law, 5741-1981), reinsurance activities on the territory of Israel can be carried out by foreign reinsurers without any authorization.
OJSC Ingosstrakh emphasizes that the company has never concluded any direct insurance contracts on the territory of Israel and has not received any official complaints (notices) from competent bodies of this country.
OJSIC Ingosstrakh (www.ingos.ru) operates in international and domestic insurance market since 1947. The company is one of the leaders in the amount of premium from voluntary non-life insurance.
Ingosstrakh has been rated by Standard & Poor’s (ВВ+/Stable, or ruAA+ on the Russian scale), Moody’s Investors Service (Ba2/Positive), Moody’s Interfax Rating Agency (Aa2.ru and RUS-1 on the national scale), and Expert RA (A++).
Total amount of direct insurance and reinsurance premium collected by OJSIC Ingosstrakh, IC Ingosstrakh-M Ltd, and IC Ingosstrakh LMT Ltd for 2005 amounted to Rub 30.9 bln, 53.8% more than in 2004. Claims settled accounted for Rub 13.9 bln. Assets increased 30.4% and totaled Rub 33.1 bln. Equity capital – Rub 6.5 bln as of January 1, 2006.
Ingosstrakh is licensed to perform all twenty insurance classes (insurers’ specialty), stipulated by Article 32.9 of Insurance Law and reinsurance. Company has branches in 182 Russian cities, and over 15 offices and subsidiaries in neighboring and other foreign countries.
