Insurance activities

Dynamics of Russian Insurance Centre insurance premium collection for 1998-2005:

Major indicators of Russian Insurance Centre for 2002-2005:

 
2002
2003
2004
2005
Collection of premiums including inward reinsurance, million RUR
546,9
922,0
1428,3
1904,1
Claims including reinsurers’ share, million RUR
61,0
102,7
153,7
163,2
Loss ratio with provision for IBNR, %
11,3
20,4
6,4
17,9
Insurance reserves, million RUR
411,1
658,2
1318,5
2174,5
Number of insurance contracts
2584
3980
8230
5885

Insurance portfolio structure in 2005 for direct insurance (see chart):
Type of insurance
Thousand RUR 
% 
Property insurance for enterprises and organizations
338 936
25,8
Cargo insurance
291 711
22,2
Construction all risks insurance (property and liability)
101 133
7,7
Insurance of aircraft (hull and liability)
84 310
6,4
Insurance of space risks (property and liability)
123 601
9,4
Insurance of vessels
28 637
2,2
Liability insurance for enterprises – sources of increased hazard
50 491
3,8
Personal insurance
207 511
15,8
Other types of insurance
87276
6,6
Total
1 313 606
100,0

Major losses paid in recent years:
• 52 million RUR paid to the Grave Image company in connection with the fire at a finished goods warehouse;
• 37 million RUR paid to Science and Production Association Academician V. P. Glushko Energomash in connection with destruction of a liquid rocket engine in the process of its fire testing;
• 33 million RUR paid to Irkutskenergo from a natural disaster with resultant damage to a power line and transformer stations;
• 25 million RUR paid to Promstroytorg for damage according to the property insurance contract;
• 12 million RUR paid to the Babakin Research and Development Centre for damage caused by the destruction of the KD-2 spacecraft;
• 9 million RUR paid to the Federal State Unitary Enterprise Admiralty Shipyards in connection with damage caused to a submarine during its performance trial;
• claims according to risk reinsurance contracts for launching the Globalstar, Express-A 1, Foton 12 and Zenith-2 spacecraft.
• claim for the Yak-130 plane accident in 2006;
• over 14 million RUR paid in connection with accidents involving the Mozhaets-5 and Belka spacecraft.