Sogaz

SOGAZ
Joint-Stock Company
Industry Insurance
Founded October 25, 1993 (1993-10-25) in Moscow, Russia
Founder Gazprom
Headquarters Moscow, Russia
Area served
 Russia
Key people
 Anton Ustinov (CEO)
Number of employees
 12,200
Subsidiaries SOGAZ-Life, SOGAZ-Med, SOGAZ-MedService,
SOGAZ a.d.o. Novi Sad, SOGAZ International Healthcare Center, SOGAZ-Finance, SOGAZ-Broker, Accept (REN TV),
Website https://www.sogaz.ru/eng

SOGAZ is a Russian insurance company. SOGAZ became the first in Russia by written premium (₽142.8 billion or US$ 2.3 billion) and market share (12.1%) in 2016.[1] The company was formed in 1993[2] and has direct business in the Russia and Serbia.[3] Insurance company SOGAZ as well have shares in many companies and own a number of insurers.

SOGAZ partners are leading worldwide reinsurance companies: Munich Re, Hannover Re, Partner Re, Swiss Re, SCOR, Lloyds of London, and others. SOGAZ - in accordance with national laws - is ceding 10% of total ceded risks under insurance contracts to Russian National Reinsurance Company (RNRC).[4]

Credit ratings

SOGAZ become the first Russian insurer assigned a long-term credit rating BBB+ in Russian and foreign currency with a "stable" outlook by Dagong Chinese Rating Agency.[2] A.M. Best has affirmed for SOGAZ (Russia) the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of "bbb" and revised the outlooks to stable from negative.[5]

Acquisitions

SOGAZ carries out a consistent and active policy on the purchase of attractive insurance assets. The objects of such purchases are always captive insurers and insurance companies focused on corporate insurance. SOGAZ acquired 5 notable companies in the Russian insurance market:

References

  1. ↑ Russian Insurers Top-20 - written premium
  2. 1 2 3 SOGAZ history
  3. ↑ Srbijagas and Sogaz to form joint insurance company
  4. ↑ Russian National Reinsurance Company - outlook
  5. ↑ A.M. Best Revises Outlooks to Stable for INSURANCE COMPANY OF GAZ INDUSTRY SOGAZ
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