SOGAZ Reinsured Catastrophe Risk Portfolio for 100 Million Euros
SOGAZ Insurance - a key member of SOGAZ Insurance Group - has signed the per-risk catastrophe reinsurance treaty with the limit of 100,000,000 euros for the first time.
The reinsurance treaty was signed for one year with the amount of coverage, fully meeting the conditions of per-risk Property Treaties and per-risk Engineering Treaties renewed by SOGAZ Insurance for 2015. Reinsurance provides protection of the company's net retentions, including their possible accumulation for multiple objects (risks) in the same location affected simultaneously by the same event - natural or man-made disasters, fire, and other risks.
"Parties to the contract are more than 15 leading international insurance and reinsurance companies. At least 96% of the total limit of coverage under the per-risk program is reinsured in companies with international financial strength rating of at least "A-" by Standard & Poor's and A.M. Best," said Dmitry Talaev, Executive Director, Member of the Management Board, SOGAZ Insurance.
SOGAZ is Russia's major insurance company and reinsurer. According to the Central Bank of the Russian Federation, for 9 months of 2014, total premiums on contracts transferred to reinsurance exceeded 13.5 billion rubles.
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Public Insurance Group "SOGAZ"
Tel.: +7 (495) 739-21-40, ext. 28-66
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