PPF Life Insurance (PPF)

PPF Life Insurance LLC (until April 2009, Czech Insurance Company LLC) began to carry out insurance activities in Russia in 2002. The main business of the company is life insurance. Perpetual license No. C 3609 77 was issued by the Federal Insurance Supervision Service.

The main financial indicators of General PPF Life Insurance LLC in the first half of 2010: - the amount of assets (as of June 30, 2010) - 5,774,213 million rubles; - the amount of equity (as of June 30, 2010) - 3,259,114 million rubles; - the volume of signed premiums - 2,584,730 million rubles.

General PPF Life Insurance LLC operates its own network of 38 agencies from Kaliningrad to Krasnoyarsk. The number of agents reached 1,700. In addition, the company's insurance programs are sold through broker networks, Russian retail banks and FSUE Russian Post

Performance indicators

2020: Net profit amounted to 388.9 million rubles

On April 6, 2021, PPF Life Insurance shared the results of the work for 2020. The results of the insurer demonstrate the positive dynamics of development, the demand for the programs offered by it, as well as its reliability and financial stability:

• Total premiums increased by 8.2%, exceeding 4,346,4 million; rubles
• The number of life insurance contracts concluded by customers with the company increased by 4%;
• Net profit reached 388.9 million rubles, and the solvency margin by 31.12.2020 exceeded the amount required by law by 5.6 times;
• Insurance reserves for the year increased by 14.5%, amounting to 12,729,5 million rubles, the total amount of assets increased by 13.9%, reaching 17,172,1 million rubles.

PPF Management Life Insurance believes that the key to the successful operation of the company is the commitment to the chosen strategy, as well as the compliance of its products with the current request of the company:

Over the past year, many have seen how important it is to have a "airbag" in case of emergency. For more than 18 years, we have been engaged in funded life insurance programs that financially protect customers for several years or decades from the consequences of unforeseen health problems. The average term of the contract with our company is 21 years. All this time, our insured can be sure of their well-being, that in a difficult situation they will have support, and by the time the program ends - a decent amount that they form with the help of comfortable contributions. As practice shows, our clients direct their savings to the implementation of the most important life plans, for example, to pay for education for a child or to increase pensions, - said Vit Sedlachek, Chairman of the Board of Directors of PPF Life Insurance.

Employees of the company understand that in difficult life situations, funds are required as soon as possible, so they promptly consider insurance cases. Thus, in 2020, 72% of payments were made within 3-5 days from the date of receipt of the application and all the necessary documents from customers. In total, in 2020, the company paid 1,234 million rubles, which is 5% more than in 2019.

At the end of 2020, the number of financial advisers reached 8 thousand people.

History

2024: Inweasta investment group bought PPF Life Insurance

Inweasta Investment Group acquired a 100% stake in PPF Life Insurance, the Russian insurance business of the Czech PPF Group. This became known on November 5, 2024. The deal, approved by the government commission for monitoring the implementation of foreign investments and the Bank of Russia, will be legally formalized by the end of November 2024.

According to Interfax, the founder of the independent investment group Inweasta, Andrei Elinson, said that the company's development strategy developed jointly with management provides for the preservation of the number of employees, an increase in profitability and the development of the product line.

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Freepik

Inweasta's investment group, which has headquarters in Dubai and offices in Hong Kong, Istanbul and Vienna, has no plans to interfere in the operations of the acquired company. The current management of PPF Life Insurance, including the Chairman of the Board of Directors Vit Sedlachek, will continue to work in the company.

As part of strengthening strategic management, the group intends to invite life insurance experts to the board of directors. The search for a buyer for the asset lasted more than a year and a half, which indicates the careful approach of the Czech group to choosing a new owner.

The life insurance market is showing steady growth - in 2023, the increase was 50%. In the first half of 2024, the growth of collected premiums in the segment reached 42% compared to the same period in 2023, while other insurance segments showed an increase of only 11%. The average market margin exceeds 25%.

The top management of the Inweasta investment group, which has experience in the Russian market, has reoriented its activities to new investment centers in the world. The company is actively developing its work in East and Southeast Asia, as well as in the Middle East.^[1]

2019

• The total volume of insurance premiums at the end of 2019 increased by 10% compared to the same indicator of the previous period, amounting to 4,017,748 thousand rubles;
• The growth of premiums under long-term life insurance contracts has been growing at double-digit rates over the past years. For 2019, this figure was 11.4%;
• The number of contracts concluded by the company's customers over the past year increased by 24% compared to 2018;
• In 2019, the company paid 1,249,523 thousand rubles to customers. Thus, the total amount of payments over the past year increased by 9% compared to 2018;
• PPF's solvency margin Life insurance exceeds the amount required by law by 462%. The company invests its funds in high-quality assets, including government bonds and bonds of large enterprises;
• Despite large investments in its own agency network, the company's net profit over the past year amounted to 244,313 thousand rubles;
• Total assets of PPF Life insurance for 31.12.2019 years - 15,080,593 thousand rubles, insurance reserves - 11,115,103 thousand rubles.

• 20 new agencies were opened in 13 regions (15 cities) of Russia;
• The number of financial advisers to the company exceeded 7 thousand people.

2013

2013 year, I quarter. The PPF Group and Generali have reached an agreement to change the interest in the joint venture - Generali PPF Holding. The transaction takes place in two stages: on March 28, 2013, Generali acquired 25% of GPH, and the remaining 24% will be purchased by the end of 2014. As part of the first stage of the transaction, PPF Group acquires insurance assets in the CIS countries from Generali PPF Holding.

2013, Q2. As a result of the closing of the transaction between PPF Group and Generali Group, PPF Life Insurance (legal name - PPF Life Insurance LLC) came under the full management of PPF Group, implementing a rebranding program. The company continues to develop actively.

2013, Q3. PPF Group decided to develop its insurance business in Russia under the PPF Life Insurance and Home Credit Insurance brands. PPF Life Insurance continues to operate in its core market, and Home Credit Insurance, part of the Home Credit Group, will focus on insurance other than life insurance.

2008

The project to optimize business processes Česká pojišťovna has been completed. Thanks to the optimization of business processes, Česká pojišťovna was able to significantly improve the quality of customer service, maintain leadership positions in the highly competitive Czech insurance market, and enter the markets of a number of countries. In early 2008, Generali and PPF Group formed a joint venture that combined the insurance assets of the groups in Central and Eastern Europe, as well as in the CIS countries.

2002

PPF Group began to develop insurance and consumer lending services in Russia. The Group's insurance asset entered the market under the brand name Czech Insurance Company. One of the slogans of the advertising campaign is "When Pushkin was mortally wounded in a duel, we have been concluding life insurance contracts for 10 years!"

1996

PPF Group bought out a stake in Česká pojišťovna, the oldest insurer in Europe. Began restructuring the company's business model.

1991

PPF Group was founded. The assets under management of the Group amounted to more than $225 million.

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