Ingosstrakh

SPAO Ingosstrakh is one of the insurance companies in Russia, providing services for motor insurance of the population and enterprises, insurance of motor vehicle insurance and liability of sea, air and road carriers, insurance of tourists, cargo, as well as in many other segments of the insurance market.

Services

SPAO Ingosstrakh is a universal federal insurance company specializing in classic types of voluntary risk insurance and is widely represented through a network of its branches, representative offices, subsidiaries and affiliates, both in Russia and abroad.

The services of Ingosstrakh JSC are available throughout the Russian Federation thanks to a wide regional network, which has 83 branches. INGO International Insurance Group unites insurance companies, in whose capital Ingosstrakh controls more than 50%. INGO members are 4 companies abroad and 6 companies in the Russian Federation. Foreign missions of Ingosstrakh JSC operate in Azerbaijan, India, Kazakhstan, China.

Ingosstrakh SPAO provides a full range of classic insurance services. Provision of comprehensive protection of financial interests of the Company's clients is allowed by licenses for 21 types of insurance out of 24 provided for by the Law of the Russian Federation "On Organization of Insurance Business in the Russian Federation," as well as reinsurance.

Performance indicators

2022: Loss - 6.86 billion rubles

Ingosstrakh received a loss of 6.86 billion rubles (according to IFRS) at the end of 2022, while a year earlier the net profit of the Russian insurance company was measured at 11.52 billion rubles. Such data were released in mid-August 2023.

According to the Insurance News Agency, citing the press service of Ingosstrakh, the loss was affected by the performance of the group's parent company, Ingosstrakh SPAO. The financial results of Ingosstrakh in 2022 are due to the conservative position of the company in terms of the formation of reserves for investment assets, the group explained.

Ingosstrakh received an annual loss of 6.86 billion rubles

At the same time, in the reporting compiled according to Russian standards, Ingosstrakh SPAO (and not the group as a whole) received a net profit of 754 million rubles in 2022. In 2021, such profit was measured at 9.7 billion rubles.

Alexey Bredikhin, director of the rating group of financial institutions of the ACRA rating agency, believes that the loss of the Ingosstrakh group in 2022 under IFRS was mainly formed due to a negative result on operations with financial instruments (-10.6 billion rubles with + 2.6 billion rubles in 2021), the formation of provisions for credit losses (-6 billion rubles with + 0.2 billion rubles in 2021) and an increase in salaries and administrative expenses by 5.2 billion rubles (while maintaining the result from insurance activities).

At the same time, the composition of the group was not disclosed, so it is not possible to indicate the specific companies responsible for the formation of the loss, - the expert specified.

The fees of Ingosstrakh SPAO (No. 3 for fees among the largest Russian insurers) in 2022 amounted to 155 billion rubles (+ 19% by 2021) with payments of 65 billion rubles (+ 16 %). Ingosstrakh-Life (No. 22 in fees) in 2022 received 10.6 billion rubles (+ 34%) from customers, paying 13.3 billion rubles (+^[1] rubles.

History

2024

Payment of 6.4 billion rubles to Ozon for damage from a fire in a warehouse

The insurance company Ingosstrakh paid Ozon compensation in the amount of ₽6,4 billion for the damage caused by the fire at the company's warehouse in the Istra district of the Moscow Region, which occurred in 2022. This became known in September 2024. This payment, which is one of the largest for this type of risk, will positively affect Ozon's financial results in the third quarter of 2024.

According to Vedomosti, during the proceedings, the insured event was confirmed, and the parties came to a constructive agreement. Ozon representatives noted that the Ingosstrakh insurance company has done significant work to assess the damage and sort the property, given the large number of goods of various categories affected by the fire.

source = EMERCOM of Russia

{{quote 'The results of the examination confirmed that the causes of the fire were outside Ozon's area of ​ ​ responsibility, - said the Insurance Broker of Sberbank, which advised the transaction.

Experts from MEF Legal and Mainsgroup positively assess the agreements reached, noting that this situation creates a positive precedent for the insurance market in Russia.}}

The fire at the Ozon warehouse in Istra broke out covering an area of ​ ​ 55,000 square meters. Two people were hospitalized and two employees were reported missing. Later, the Klinsky City Court recognized one of them dead and ordered the owner of the warehouse LLC "Landmark West-1" to pay the mother of the deceased moral compensation in the amount of ₽1 million.

An investigation by the State Labor Inspectorate of the Moscow Region found that the main cause of the accident was the unsatisfactory organization of work by the developer. It was also revealed that evacuation and fire control systems at the warehouse had been shut down.^[2]

TAdviser Interview with Head of Database Administration and Head of Procurement

Ingosstrakh is a modern company that holds a leading position in the digital financial insurance market. We make the business even more profitable and productive, increasing its resilience and adaptability. We create unique digital products in insurance, break stereotypes and make insurance simple and understandable.

Ivan Martishevsky, Head of the Database Administration Department of Ingosstrakh Joint-Stock Company and Maria Marinina, Head of the Procurement Department of Ingosstrakh Joint-Stock Company, winner of the Competitive Procurement Leader Award in 2023 in the nomination "Economic Efficiency of Procurement Operations" spoke about the procurement of Oracle technical support services in the absence of a vendor and effective teamwork, which for many years has been allowing the introduction of advanced technologies in the IT areas of Ingosstrakh joint-stock company. Read more here.

2023

Start selling insurance for digital rubles

At the end of August 2023, Ingosstrakh announced the start of testing operations with a digital ruble. Travel insurance policies and accident insurance for the digital ruble have already begun to be sold in Moscow, Kazan and Nizhny Novgorod.

According to the press service of the company, Ingosstrakh joined the testing of the new form of payment as a trade and service enterprise. Participants have access to several types of transactions with a digital ruble: for example, they can open, block and unlock a digital account. Also, in addition to replenishment and withdrawal of funds, the testing provides for operations with a deferred date of execution and transfers of digital rubles between individuals, said Ingosstrakh.

Travel insurance policies and accident insurance for the digital ruble have already begun to be sold

The process of payment with digital money is as follows: the client selects the necessary product, receives the generated QR code, downloads the code through his banking application and conducts the operation. It is alleged that the operation takes place instantly.

Together with our partners, we are doing a lot of work on testing the digital ruble. This pilot project is the merit of the Ingosstrakh team, and I am sure that thanks to this experience, employees will receive a unique skill in working with a digital ruble so that in the future our clients can choose the most convenient option for paying for the policy throughout the country, - said the head of the Center for Financial Technologies "Ingosstrakh" Andrei Varnavsky.

The company also plans to test the sale of insurance for digital rubles in. In FRS September 2023, the company wants to pay for apartment insurance policies and a health course (programs for a comprehensive body examination). The company will test accepting payment with a new form of national currency, returning funds to the client, replenishing the wallet and withdrawing money to a regular bank account, the organization's press service said.^[3]

The departure of a group of managers due to large losses

In mid-August 2023, it became known about the departure from Ingosstrakh of a group of managers led by Anton Kaziev, who was engaged in the financial insurance line (director liability insurance and bank insurance).

According to Kommersant, citing its sources, the dismissal of these employees is associated with "two large losses for a hundred million rubles." Ingosstrakh, at the request of the publication, did not comment on this information, but said that they would close the direction of the financial insurance line.

It became known about the departure from Ingosstrakh of a group of managers

Andrei Khabarov, general director of the insurance broker AST Financial Consultants, agrees that the direction will probably not be completely closed, "but for some time it will develop conservatively." In his opinion, the director liability insurance segment will be more successful, since both domestic players from large and medium-sized businesses and new owners of international companies that sold their business in Russia are showing interest in it.

According to Alexander Tsyganov, professor at the Financial University under the Government of the Russian Federation, financial insurance by August 2023 is "under pressure," since some of the policyholders left the Russian market and froze development plans related to foreign business. This, he said, reduced demand for director liability insurance and comprehensive banking insurance services. In addition, he suggests that some policyholders may want to continue working with the old team.

According to the interlocutors of the newspaper, both clients and outgoing managers of Ingosstrakh can be lured away by other large insurers, where these types of insurance need to be strengthened - for example, Sogaz, RESO Garantia, Rosgosstrakh and AlfaStrakhovanie^[4]

TAdviser interview with Sergey Lysenko

Sergey Lysenko - an expert with 15 years of experience in the field of procurement and 10 years of experience in the field of transformation and automation of procurement systems of various organizations. industries economies He is a member of the Top 25 Procurement Directors Russia and Russian Managers Association is a member of the expert and supervisory boards of national procurement awards. Sergei Lysenko in July 2023 spoke about the TAdviser automation of procurement of the joint-stock company "," about Ingosstrakh the choice, about the difficulties EDMS THESIS faced by the project team, and about the results achieved. Read more here [1]

10 lawsuits from the Central Bank due to problems on the site

On July 19, 2023, it became known that the Bank of Russia (Central Bank) filed 10 lawsuits with the Moscow Arbitration Court against Vladimir Tikhomirov, director of the IT department of the Ingosstrakh insurance company. The reason for numerous proceedings was the malfunctions of the insurer's website. Read more here.

Appointment of Konstantin Sokolov as General Director

By the decision of the Board of Directors of DRAO Ingosstrakh"" he was elected CEO of the company. Konstantin Sokolov He will also become chairman of the Board of the insurer. Since July 25, 2022, he served as CEO of the company. The company announced this on June 9, 2023. More. here

2022

Joining the FinTech Association

On August 15, 2022, Ingosstrakh announced its accession to the FinTech Association (AFL). The decision to join the next participant was made by the AFL Supervisory Board.

Appointment as head of Ingosstrakh Konstantin Sokolov

At the end of July 2022, Ingosstrakh announced the appointment of Konstantin Sokolov to the post of head of the company. Under his leadership, the insurance company will continue its course towards the development of digitalization, increasing the level of client service and operating efficiency to maintain Ingosstrakh's leadership in the insurance market, Ingosstrakh said in a statement. Read more here.

2021

Creating a financial ecosystem

On May 20, 2021, Ingosstrakh announced the creation of a financial ecosystem that unites the group's insurance and investment products. According to the head of the management company "Ingosstrakh-Investments" Vladimir Krekoten, this initiative will allow to enter the products of the group of companies in the usual way of life. Read more here.

Appointment of Viktor Fedosov CIO

On February 2, 2021, Ingosstrakh SPAO informed TAdviser about the appointment of Viktor Fedosov as IT Director. Read more here.

Appointment of Andrei Larkin as head of Ingosstrakh

On February 1, 2021, Ingosstrakh announced the appointment of Andrei Larkin as the new general director of insurance instead of Konstantin Sokolov, who had been in charge of the company since November 2019. Read more here.

2020: Court decision on the payment of PSB $100 million for personal liability insurance of the Ananyev brothers

In December 2020, it became known that Ingosstrakh, in which the personal liability of the former top management of Promsvyazbank (PSB), including the ex-owners of brothers Dmitry and Alexei Ananyev, was insured, should pay the bank $100 million. The insurer's arguments that the bankers misled him about his financial situation, incorrectly assessed the client's insurance risk, and were declared insolvent by the court.

2018

According to information for 2018, Ingosstrakh bears responsibility to customers for the full amount of possible losses due to its own financial stability and reinsurance programs. Among the partners of Ingosstrakh joint-stock company for reinsurance are such international companies as: Allianz, AXA, CCR, Gen Re, Hannover Re, syndicates Lloyd's, Munich Re, Partner Re, QBE, SCOR, Swiss Re, XLCatlin, etc.

Number of employees in head office and branches

As of the beginning of 2018, Ingosstrakh more than 3,534 employees worked in the head office of the SPAO "," in branches - 2,545 employees.

Open interview with Alexei Klepikov on TAdviser SummIT

At the TAdviser SummIT conference held on May 30, 2018 and bringing together a total of more than 600 participants, an open interview with Alexei Klepikov took place. Answering questions from TAdviser editor-in-chief Alexander Levashov, he highlighted his vision of trends in digitalization, IT priorities in insurance and spoke about a number of projects in Ingosstrakh itself. Read more here.

2017

The company's assets - 147.11 billion rubles.

As of 30.09.2017 the paid authorized capital of Ingosstrakh joint-stock company is 17.5 billion rubles, the company's own funds amount to 58.6 billion rubles, the Company's assets amount to 147.11 billion rubles, and insurance reserves amount to 72.39 billion rubles.

Telematic driving insurance

Ingosstrakh In the summer of 2017, SPAO "" began concluding insurance contracts taking into account telematic driving parameters. The technical partner, developer, equipment manufacturer, telematics data analysis system is a telematics solution provider. Meta System

Customers of the company, insuring their car according to CASCO, will be able to install a telematic device on the insured vehicle. It will transmit to the Ingosstrakh drilldown JSC data on the manner of driving in relation to the vehicle. This data can then be used to refine the calculation of the insurance rate for the vehicle insurance contract for the new term. At the same time, in the process of driving, the client has the opportunity to monitor his driving style in the form in which it is recorded by a telematic device (INGO Drive application). Thus, it is possible to create additional prerequisites for applying to the basic insurance rate a more preferential correction factor for the client, depending on the fixed driving manner.

In March 2017 Ingosstrakh confirmed compliance with the Quality Management System certificate in the field of insurance and reinsurance and received a certificate of compliance of the quality management system with the requirements of GOST R ISO 9001-2015 (ISO 9001:2015). The validity period of the certificate is until 2020. The certificate indicates that the quality management system of Ingosstrakh JSC in the field of all insurance services, including reinsurance, meets the requirements of the standard. Currently, the certificate of the quality management system is one of the most objective evidence of the well-functioning of the business and the reliability of the company. Throughout the term of the certificate, the Company will ensure the systematic improvement of business processes and the improvement of the quality of services.

Alexey Klepikov appointed vice president for IT

Since April 2017, Alexey Klepikov has been appointed Vice President for Information Technology at Ingosstrakh.

2015

17.06.2015, the revision of the Charter with the new name "Insurance Public Joint Stock Company" Ingosstrakh was registered, in English - "Ingosstrakh Insurance Company" (Certificate No. 3779 - iu 5 of 10.07.96 issued by the Moscow Registration Chamber).

License of the Central Bank of the Russian Federation SL No. 0928 dated September 23, 2015, SI No. 0928 dated September 23, 2015, OS No. 0928 - 02 dated September 28, 2016, OS No. 0928 - 03 dated September 23, 2015, OS No. 0928 - 05 dated September 23, 2015, PS No. 0928 dated September 23, 2015.

2013

Out of Ingosstrakh came PPF Investments, which owned a minority stake. The sale of this stake took place in 2013 as part of a transaction with Generali, which transferred the former share of PPF Investments.

2011: Record insurance payment in the history of Russia for $250 million

Ingosstrakh made three record payments in the history of Russia: in connection with the death in 1998 of the Coupon satellite ($85 million), a fire at the Protek warehouse in 2006 ($75 million) and a failure to enter the estimated orbit of the Express-AM4 communication satellite launched on August 18, 2011 ($250 million).

2007: Buying the "Be Healthy" Chain

On April 17, 2007, it became known that Ingosstrakh OSAO acquired 100% of the Be Healthy network of medical clinics from its former founders. This is stated in the message of Ingosstrakh. The amount of the transaction was not disclosed.

According to Ingosstrakh CEO Alexander Grigoriev, the acquisitions are related to the implementation of a three-year project to create its own network of medical institutions to provide services under voluntary health insurance contracts. Ingosstrakh invests over $100 million in this project over three years.

Ingosstrakh plans to create a network of health facilities consisting of 24 clinics. In 2007, it is planned to open one new clinic, in 2008 - seven, in 2009 - fourteen clinics.

OSAO Ingosstrakh has the right to carry out all types of insurance (taking into account the specialization of insurers).

The main shareholders of the company as of 2007 are:

• Bekar-Service LLC (16.03% of shares),
• Granit LLC (15.98%),
• Investment Initiative LLC (15.85%)
• New Capital LLC (15.85%),
• Soft-Karat LLC (15.68%)
• Vega LLC (6.75%),
• Oleg Deripaska (10%).

2006: 2x increase in net profit to RUB 1.9 billion

The company's net profit in 2006 increased 2 times to RUB 1.9 billion. The authorized capital of the company is 2.5 billion rubles. and divided into 2.5 billion ordinary shares.

1947-1996

Ingostrakh has been operating in the international and domestic markets since 1947.

Insurance Public Joint Stock Company Ingosstrakh"" (hereinafter referred to as "Ingosstrakh"), which is the successor of the Main Directorate of Foreign Insurance of the USSR, created by Decree of the Council of Ministers of the USSR of 16.11.47 No. 3819-1281c, is registered as a closed-type joint-stock company with the Moscow City Council on the creation of new enterprises No. 3779 dated June 28, 1991 under the corporate name Ingosstrakh Insurance Joint-Stock Company (subsequently, the specified registration certificate was replaced by the Moscow Registration Chamber with certificate No. 003.779); 05.01.1993 g.

Ingosstrakh Insurance Joint Stock Company was transformed into an open joint stock company (Certificate No. 3779 - iu 1 of 05.01.93 issued by the Moscow Registration Chamber). 10.07.1996, a revision of the Charter was registered with the name "Open Insurance Joint Stock Company" Ingosstrakh. "

Participation in associations

Ingosstrakh Insurance Company plays a prominent role in the Russian insurance community, being a permanent member of a number of associations of Russian insurers and taking an active part in the development of legislative initiatives aimed at improving the legal framework of national insurance. SPAO Ingosstrakh is a member of more than 70 Russian and professional international associations and unions, including:

• All-Russian Union of Insurers (VSS);
• Russian Union of Auto Insurers (RSA);
• National Union of Liability Insurers (NSSO);
• Russian Nuclear Insurance Pool;
• Union of Russian Shipowners (SOROSS);
• Association of International Road Carriers (ASMAP);
• Russian Motor Transport Union;
• Russian Union of Industrialists and Entrepreneurs;
• Chamber of Commerce and Industry of the Russian Federation;
• International Road Transport Union (IRU);
• International Union of Aviation Insurers, London, UK;
• International Maritime Insurance Union (IUMI), etc.

Notes