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Financial Services Sector
/ Structure / Financial Services Sector

"Our goal is to provide a reliable, high-quality service to all of our customers in the financial services sector. Our sustained commitment to this mission ensures our businesses remain at the forefront of their fields in the financial market"

Mikhail Volkov
Acting Head of Sector

The Sector’s companies offer virtually the entire range of financial services to both corporate and private clients. In total the Sector’s companies serve millions of individuals and tens of thousands of corporate entities. The service network numbers more than 770 points of sale, covering almost all regions of the Russian Federation. There are also activities in other business developments and in other countries of the CIS.

Key Facts

  • 8,000 employees
  • 770 points of sale
  • Millions of individual and tens of thousands of corporate clients

 

2007 Results

2006 Results



Insurance
Primarily active in the insurance sector, IJSC Ingosstrakh has a history spanning six decades. Ingosstrakh is the leading national insurer providing a comprehensive scope of insurance services to the individual and corporate clients. There are 83 regional branches of the company working with clients through points of sales in 221 cities in Russia; 5 affiliated companies are operating in the CIS countries, and 2 are in western Europe.

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Banking
The banking business in the financial services sector is represented by JSCB Soyuz. Soyuz Bank is a full-service commercial bank founded in 1993. The bank is ranked in the top 30 of the largest Russian banks and provides the full range of retail, corporate and investment banking services, and also provides financial services to private clients. The regional bank network consists of 55 points of sales in more than 20 regions of the Russian Federation.

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Leasing
Element Leasing provides small- and medium-size businesses with access to financing for the purchase of commercial motor vehicles and equipment. With a network of offices in more than 50 Russian cities, Element Leasing ranks among the three largest leasing companies in Russia; and, in 2007 it was able to secure credit financing from the EBRD (European Reconstruction and Development Bank), which was the first in the history of a Basic Element company.

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Pension Funds

Pension programs of the Sector are managed by NPF Socium and NPF Obrazovanie&Nauka. The Funds provide mandatory pension insurance, as well as additional pension coverage to a total of more than 500,000 clients. More than 120 of Russia's largest companies have agreements with the Funds  to provide additional pension benefits for their workers. Since October 1, 2008 the Funds also participate in the State pension co-financing program, collecting application forms directly from retail customers.

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Sector News


19.08.2009

Preliminary IFRS results of INGO Group over 6 months 2009

According to the preliminary results of 6 months of 2009, the consolidated premium collected by the companies of the INGO Group - Ingosstrakh IJSC (Russia), SOFAG (Germany), INGO Ukraine (Ukraine), Garant (Austria), IngoNord (Finland), Belingosstrakh (Republic of Belarus), Ingo Armenia (Republic of Armenia),  Kyrgyzinstrakh (Kyrgyz Republic), Ingo Uzbekistan  (Uzbekistan), Ingosstrakh Life (Russia),  Emergency Insurance Company (Russia), INGO Ukraine Life (Ukraine) - under the international financial reporting standards (IFRS) amounted to RUB 29.0bln ac compared with RUB 26.4bln in the same period last year  (an increase of 10%).

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12.08.2009

Preliminary IFRS results of INGO Group over 6 months 2009

According to the preliminary results of 6 months of 2009, the consolidated premium collected by the companies of the INGO Group - Ingosstrakh IJSC (Russia), SOFAG (Germany), INGO Ukraine (Ukraine), Garant (Austria), IngoNord (Finland), Belingosstrakh (Republic of Belarus), Ingo Armenia (Republic of Armenia),  Kyrgyzinstrakh (Kyrgyz Republic), Ingo Uzbekistan  (Uzbekistan), Ingosstrakh Life (Russia),  Emergency Insurance Company (Russia), INGO Ukraine Life (Ukraine) - under the international financial reporting standards (IFRS) amounted to RUB 29.0bln ac compared with RUB 26.4bln in the same period last year  (an increase of 10%).

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04.08.2009

Ingosstrakh paid about RUB 233mln to private customers in Moscow and Moscow region

Over the week from July 27 till July 31, 2009, Ingosstrakh in the Moscow region paid about RUB 233mln for retail insurance.  

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Useful Information
Summary of the Development of the Insurance Market in Russian In 2007

Contacts

General Contact Information
Tel: +7 (495) 933 71 92
Fax: +7 (495) 933 32 56

Media Contact Information
Eleonora Veytsman
Media Relations, Basic Element
Tel: +7 (495) 729 53 83
Fax: +7 (495) 729 53 70
EleonoraVV@basel.ru

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