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Company Profile
JSIC “Moscow Reinsurance Company” (Moscow Re) was founded in 1996. Thus “Moscow Re” is one of the first professional reinsurance companies in RF.
Beyond the head office located in Moscow the Company has 6 representative offices within the territory of Russia (St Petersburg, Samara, Yekaterinburg, Novosibirsk, Irkutsk, Vladivostok) and one abroad (Kiev, the Ukraine).
Portfolio
“Moscow Re” writes all lines of business. In 2009 the treaty accounts made up 60% of the written premium and facultative ones - 40% respectively. In the portfolio there are prevailing (approximately 80%) the Property/Engineering and Motor risks.
The basic reinsurance segments of “Moscow Re” (property, CAR/EAR, marine hull, cargo and PA) are protected with the obligatory retrocession treaties, placed mainly among the foreign reinsurers with the rating not less than “A-“ of S&P’ scale or the similar ratings of the other international agencies.
“Moscow Re” has the long-lasting fruitful reinsurance interrelations with both the numerous national and CIS insurance companies.
Key financial data
In April 2010 S&P agency reaffirmed to “Moscow Re” its current rating “BB“ (stable outlook), and “ruAA”- according to the local country scale.
According to RAS data for 2009 the total assets make up RUR 894,02 mln., profit after tax RUR 23,9 mln. and the share capital – RUR 740 mln.
In 2009 the written premium amounted to 22 mio USD, total assets were 58 mio USD (all data according to IFRS data, with end of period exchange rates).
Nowadays about 90% of the investment portfolio (approx. RUR 1,1 bn) are represented with the fixed income instruments.
Shareholders
In 2007 Bank of Moscow, Moscow government and Investment Group “Russian Funds” established the new insurance association - Metropolitan Insurance Group. Now it is renamed to “Insurance Group “MSK” being one of the largest insurance holding. On the consolidated basis the Insurance Group is among the top 10 insurance groups in Russia, and by gross premiums income is rated even top 5.
Since the end of 2008 Moscow Re has been responsible for all outward reinsurance arrangements and at present is authorized to be the only reinsurance center of the whole Group.
