RUSSIA: 11 leading reinsurers participate in the obligatory agreement of SBERBANK Insurance

13 January 2020 — Marina MAGNAVAL
SBERBANK Insurance renewed obligatory reinsurance protection of property risks accepted for insurance, for a capacity of RUB 5 billion (~EUR 73.48 million*), ASN reports.

11 leading European and Russian reinsurance companies participate in the obligatory agreement, reinsurance protection which covers all types of property risks. The leader of the program is SCOR.

Around 85.5% of the total liability limit under the obligatory program is reinsured by companies with a financial stability rating "-", assigned by international rating agencies, as the insurer said.

According to the market results of 3Q2019, SBERBANK Insurance ranked 16th among 175 companies on the Russian market, with GWP of EUR 193 million* and a growth of almost 35% y-o-y.

* EUR 1 = RUB 68.0450 (as of 11.01.2019)

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