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Annual Report for 2013 1 Sogaz Ojsc, 2013

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Annual Report for 2013 1 Sogaz Ojsc, 2013 ANNUAL REPORT FOR 2013 1 SOGAZ OJSC, 2013 MESSAGE OF THE CHAIRMAN OF THE BOARD REINSURANCE 56 OF DIRECTORS 2 SETTLEMENT OF LOSSES 58 MESSAGE OF THE CHAIRMAN OF THE MANAGEMENT BOARD 3 REGIONAL NETWORK DEVELOPMENT 62 SOGAZ INSURANCE GROUP 6 MEDICAL INFRASTRUCTURE DEVELOPMENT 65 RUSSIAN INSURANCE MARKET: RESULTS OF 2013 8 INVESTMENT POLICY 67 MARKET POSITION OF SOGAZ INSURANCE GROUP 13 RISK MANAGEMENT 68 PROPERTY AND LIABILITY INSURANCE 17 PERSONNEL MANAGEMENT 69 PARTICIPATION IN INTERNATIONAL PROJECTS 39 INFORMATION TECHNOLOGY 74 PARTNER AND RETAIL SALES DEVELOPMENT 41 CHARITY AND SPONSORSHIP 75 PERSONAL INSURANCE 44 FINANCIAL PERFORMANCE 80 MESSAGE OF THE CHAIRMAN OF THE BOARD OF DIRECTORS ОАО «СОГАЗ», 2013 Sogaz has been actively developing its affiliated network and retail business, has been improving its business processes. The Group has taken over TRANSNEFT Insurance Company which has been for many years a leading insurer in pipeline transportation of oil and allied sectors. Sogaz remains focused on the increase Dear shareholders! of customer care level, the improvement of the loss settlement system. Large amounts of insurance benefit Last year, Sogaz Insurance Group turned 20 years old. payments paid by the company in the reportingyear once All these years, Sogaz not only has been a reliable partner again prove that Sogaz is a reliable and responsible of gas industry companies, but also actively facilitated leading insurerin Russia. cooperation with companies engaged in other economy sectors, expanded its geographic reach. I am confident that this active and systematic approach aimed, first of all, to improve business performance will Today, Sogaz Group is a leader of the Russian insurance further increase value of Sogaz, strengthen its leading market, the most profitable Russian insurance company position in the Russian insurance market. ranking first in the volume of assets and insurance reserves. Sogaz provides services to over 40,000 companies and over 15 mln people. Keys to success of Sogaz have been high quality of service, fulfillment of obligations to customers and Chairman of the Board of Directors, Sogaz OJSC partners at all times, adequate risk management system. Chairman of the Management Board, Gazprom OJSC I am happy to note that in 2013 the Group achieved all A. Miller of its targets, and in many directions it even exceeded them. 2 MESSAGE OF THE CHAIRMAN OF THE MANAGEMENT BOARD SOGAZ OJSC, 2013 10% due to high profitability of business associated with insurance of enterprises of Transneft, one of global leaders in oil and oil product transportation. We expect that skilled staff of Insurance Company TRANSNEFT will contribute to our Dear shareholders, customers, partners and success. Exchange of hands-on employees of Sogaz Insurance Group! experience and technology between Group companies and expertise of IC TRANSNEFT’ employees will Year 2013 was the first year of volume amounted to more than 94 help Sogaz Group to strengthen implementation of a new Development bln Roubles, and net income of competitive advantage in key Strategy of Sogaz approved by Sogaz OJSC hit record high of 12.2 business areas. its Board of Directors. The results bln Roubles. Currently, Sogaz is the Last year, Sogaz OJSC, main of the year make us believe that most reliable, profitable and actively member of Sogaz Group, once again the Group will reachall the goals it developing insurer in the market. proved to be the leading corporate plans to achieve by2016. Sogaz is One of the key events of the last insurer in Russia. The company won experiencing significant changes: year was affiliation of TRANSNEFT several major tenders, expanded it is growing, it is being reinforced Insurance Company by Sogaz its customer base, took part in by new employees and achieving Group. Acquisition of the company insuring large-scale projects of state successful results in all its business will allow Sogaz Group to increase significance. Among them are 2013 areas. In 2013, the Group’s premium 3 its portfolio by almost as many as Universiade in Kazan, development of Kirinskoye gas and condensate leasing companies increased almost of insured events associated with field, Sakhalin III project, testing three times. Sogaz became one of major and high-profile accidents. a prototype of the Russian fifth- leading insurers under the project of The company paid a record-breaking generation multirole combat aircraft the Sberbank of Russia «Corporate insurance benefit in the amount of Т-50, launches of space vehicles, Credit Insurance», and considerably 73 mln euro as a result of partial construction of the Western High- strengthened cooperation with other loss of Yamal-402 satellite. Sogaz Speed Diameter in Saint Petersburg leading credit institutions. paid over 850 mln Roubles following and many others. Russian an accident of the Tu-204 aircraft of Sogaz keeps growing and Emergency Minister V. A. Puchkov Red Wings airline. insurance benefit expanding its geographic reach. highly appreciated the company’s payments to relatives of passengers In 2013, over 2.8 thousand new work under the state contract of of Boeing that crashed in Kazan employees joined the Group; obligatory insurance of Ministry Airport in November amounted to Sogaz OJSC established 8 new employees against accidents. about 90 mln Roubles. All these affiliates; the regional network was In 2013, Sogaz won a tender for payments were made in exceptionally finally switched to a three-level insuring Gazprom OJSC and its short time for the Russian insurance management system (in which subsidiaries against environmental market, which once again proved Territorial offices play an important risks for the period until 2016. The that Sogaz is a reliable and role). In accordance with its strategy, insurance program includes 32 responsible insurance partner able Sogaz became much more active in companies, total liability of Sogaz to promptly fulfil assumed obligations the competitive segment of corporate amounted to 30 bln Roubles. and understanding the responsibility insurance in regional markets. In and social significance of its work. Sogaz achieved a great success 2013, rate of growth of receipts of in partner sales: at the end of the the regional network was over 30%. Over the year, the company year, the company was well ahead carried out very hard and important Customers decide whether of its plans in all key business areas. work on centralization and or not an insurance company is Receipts from insurance brokers and automation of the loss settlement reliable, whether or not it may be car dealers increased more than procedures, implementation of entrusted with the protection of twice. A number of contracts for the rating system for car service his/her interests, judging by the insurance of legal entities’ property stations, which allowed us to way such company settles losses. entered into through banks and 4 In 2013, Sogaz settled a number SOGAZ OJSC, 2013 speed up and enhance the quality Aviation and Space Salon «MAKS I am grateful to the company’s of service for Sogaz customers 2013» in Zhukovsky and many shareholders for their constant at the stage of insurance benefit others. I believe the most remarkable support of all our projects and payments. To improve business was partnership of 2013 Universiade, plans. processes, we launched a project a major sports event of the year. By And, of course, I am very grateful for centralization of operating and participating in such events, we not to out customers and partners, accounting functions: by the end of only sustain our image as a socially both new and those who has been the year, over 30 affiliates of the responsible insurer, but also change working with Sogaz for years. We company were using the centralized Sogaz itself making it more open work for you! model of work and their number will and the brand – more recognizable. grow. I would like to thank all employees Respectfully, Chairman of the I would like to note a number of the Group for their contribution to Management Board of Sogaz of fascinating, public and socially the common cause: Sogaz would Insurance Group important projects which were not succeed without their daily work, S. Ivanov supported by Sogaz: World Combat persistence, high professionalism Games in St. Petersburg, Russian and integrity. Football Championship, International 5 SOGAZ OJSC, 2013 SOGAZ INSURANCE GROUP 6 ОАО «СОГАЗ», 2013 Year of establishment of the Ratings: A.M. Best Group: 1993 Standard & Poor’s Sogaz OJSC: Key members of the Group: Financial Stability Rating: Sogaz OJSC: Sogaz OJSC «В++», outlook «Stable» Counterparty Credit Rating: IC SOGAZ-Med OJSC Issuer Credit Rating: «BBB-», outlook «Stable» IC SOGAZ-Life LLC «bbb», outlook «Stable» Financial Stability Rating: IC TRANSNEFT CJSC «BBB-», outlook «Stable» SOVAG (Germany): SOT–TRANS LLC National Scale Rating: Financial Stability Rating: «В++», SOVAG (Germany) «ruAAA», outlook «Stable» outlook «Stable» SOGAZ a.d.o. Novi Sad (Serbia) Issuer Credit Rating: SOGAZ-Medservice LLC IC TRANSNEFT CJSC: «bbb», outlook «Stable» SOGAZ International Medical Center Counterparty Credit SOGAZ-PROFMEDITSINA LLC Rating: IC TRANSNEFT CJSC: «ВВВ-», outlook «Stable» Financial Stability Rating: Share capital of main insurance companies: Financial Stability Rating: «В+», outlook «Stable» Sogaz OJSC – «ВВВ-», outlook «Stable» Issuer Credit Rating: 15,111 mln Roubles National Scale Rating: «bbb-», outlook «Stable» IC SOGAZ-Med OJSC - «ruAAA», outlook «Stable» 102.5 mln Roubles IC SOGAZ-Life
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