Rus News Journal

The oil company has created insurance group

LUKOIL has united round itself four companies

One of these days the certificate of Rosstrahnadzora on registration the insurance group " has received; LUKOIL created by the insurance society with the same name and united besides most LUKOIL four more insurance companies. Thus, in the Russian insurance market there was the first insurance group which each participant specialises on a certain kind of activity.

the Insurance company LUKOIL specialises on insurance of difficult technical risks and almost completely it is closed on oil LUKOIL which affiliated firm it is. Now the basic attention LUKOIL Has concentrated to preparation and realisation of the insurance programs connected with development of a shelf of Caspian sea in Azerbaijan (NK LUKOIL participates in three projects in this region). Till now the insurance company on the free market practically did not leave. Group creation will allow it which were engaged mainly in service of the founder, to expand frameworks of activity and to strengthen positions in the insurance market.
therefore it has been decided to diversify insurance operations by creation of insurance group LUKOIL which would include some companies specialising on various kinds of insurance. According to the first vice-president of the insurance company LUKOIL Sergey Yefimov, the account of the western experience became one of the reasons of creation of group also. The tendency to creation of the insurance groups uniting the companies, each of which operates in a certain field of activity, considers Efims, is characteristic for the world market. In the West under one name some the insurance companies often operate. As Efim`s example named AIG and Zurich.
In insurance group LUKOIL besides actually insurance company LUKOIL the Moscow companies " have entered; LUKOIL - City the Bear the Bear - LK and Perm the Adonis . LUKOIL - City has been founded LUKOIL other insurers have at various times sold to it a controlling stock of the actions. The insurance company LUKOIL is the group largest in structure - following the results of 1995 it occupied 29 - e a place in the list of 100 largest insurance companies of Russia (on the sum of the collected insurance premium). The company has collected 122 mlrd roubles, including 90 mlrd roubles - on personal insurance and 31 mlrd roubles - on property. Other members of group - rather small companies which are not entering into one hundred largest.
Fields of activity united LUKOIL the insurance companies practically are not crossed. a bear is engaged mainly in available housing insurance in Moscow. It has received this right as a result of the competition spent in last year by the Moscow government. a bear - LK specialises on obligatory and voluntary medical insurance, and LUKOIL - City - on insurance of medical expenses for leaving abroad and insurance upon accidents. the adonis - the unique universal company in group, but it works exclusively in the Perm area.
by words g - on Yefimov, at the first stage management of financial streams will be the group main task. The company " is already created; LUKOIL - the Reserve - Invest and participants of group will transfer it in a trust the temporarily free money resources. Among more remote plans - standardization of conditions and technology of insurance of participants of group and, probably, increase in their authorised capital stock (the capital of each member of group yet does not exceed 1 mlrd rbl.).