Sergey Danilychev, Deputy Chairman
of the Management Board
of the Russian Insurance Centre
In case the volumes of the Russian domestic market are not enough, the Russian Insurance Centre places its risks mainly with first-class insurance companies of the London Insurance market and Continental Europe. Among the international partners of the Russian Insurance Centre are such companies as Lloyd’s of London, Royal & Sun Alliance PLC, Munich Re, Hannover Re, Tokio Marine Europe, Generali and others.
The portfolio of the Russian Insurance Centre is adequatly protected by an effective system of obligatory treaties for the cargos of the Federal State Unitary Enterprise Rosoboronexport, for aircraft hull insurance, for marine hull and liability insurance as well as for motor car insurance. These treaties are placed through the major international brokers such as Aon Ltd, Marsh, RFIB and Willis. Treaties for property and non-military cargos are placed primarily with the leading insurance companies of the Russian market.
The insurer deems it extremely important to find the most effective and beneficial terms and conditions of reinsurance as well as for contacts in alternative markets, in particular the world’s second market in terms of importance – that of the Bermuda Islands. Risks are already being placed with such powerful young companies as Axis Specialty Limited, Catlin Insurance Company and XL Specialty Insurance Company.
Establishing reinsurance relations with insurance and reinsurance companies of the third world is also of strategic importance. In particular, cooperation with the General Insurance Corporation of India and Indian reinsurance broker J. B. Boda has developed successfully. Business contacts have been developed with insurance companies of China and those of the CIS, South-East Asia and Pacific region.
The Russian Insurance Centre actively develops its inward portfolio both with a large number of Russian insurance companies and in cooperation with international insurance and reinsurance markets. In the future it is planned to increase the collection of reinsurance premiums for inward reinsurance to the level of those for outward reinsurance in order to reach a reasonable balance between the amounts of inward and outward premiums.
The company puts much effort into increasing the quality of its inward portfolio. The focus is always put on traditional types of insurance: property, marine cargo, construction all risks, aviation risks and marine hull and liability.