Sogaz
| File:SOGAZ logo eng.svg | |
| Company type | Joint-Stock Company |
|---|---|
| Industry | Insurance |
| Founded | October 25, 1993 in Moscow, Russia |
| Founder | Gazprom |
| Headquarters | Moscow , Russia |
Area served | Russia |
Key people | Anton Ustinov (CEO) |
| Revenue | $3.07 billion[1] (2017) |
| $675 million[1] (2017) | |
| $524 million[1] (2017) | |
| Total assets | $6.09 billion[1] (2017) |
| Total equity | $1.88 billion[1] (2017) |
Number of employees | 12,200 |
| Subsidiaries | SOGAZ-Life, SOGAZ-Med, SOGAZ-MedService, SOGAZ a.d.o. Novi Sad, SOGAZ International Healthcare Center, SOGAZ-Finance, SOGAZ-Broker, Accept (REN TV), |
| Website | https://www.sogaz.ru/eng |
SOGAZ is a Russian insurance company. SOGAZ became the first in Russia by written premium (₽142.8 billion or US$ 2.3 billion) and market share (12.1%) in 2016.[2] The company was formed in 1993[3] and has direct business in the Russia and Serbia.[4] 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).[5]
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.[3] 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.[6]
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, except VTB Insurance which had been a subsidiary of VTB Bank. SOGAZ acquired 7 notable companies in the Russian insurance market:
- Neftepolis (2005, formerly owned by Rosneft);
- Sheksna (2009, Severstal);
- Insurance company Transneft (2013, Transneft);
- Insurance company Alrosa (2014, Alrosa);
- ZHASO (2016, Russian Railways);
- Regiongarant (2017, Surgutex)[3];
- VTB Insurance (2018, VTB Bank).
References
- ^ a b c d e "International Financial Reporting Standards Consolidated Financial Statements and Independent Auditor's Report" (PDF). Retrieved 1 November 2018.
- ^ Russian Insurers Top-20 - written premium
- ^ a b c SOGAZ history
- ^ Srbijagas and Sogaz to form joint insurance company
- ^ Russian National Reinsurance Company - outlook
- ^ A.M. Best Revises Outlooks to Stable for INSURANCE COMPANY OF GAZ INDUSTRY SOGAZ