Rus News Journal

Insurers amicably have gone on authorised capital stock increase

Insurers of St.-Petersburg in the majority have coped with new requirements of Federal Agency of insurance supervision which authorised capital stock increases concerned, - only three companies could not execute them. Analysts are assured that it is quite good result. Nevertheless further it will be difficult to small insurance companies to survive, especially in case of Russia`s accession to the World Trade Organization. They predict continuation of consolidation of the market of insurance. Within the next years in Northern capital it will be reduced not less than to 20 %. Thus, insurers are assured, in the market will change nothing, therefore as seriously on it 15 players work only.
According to requirements of Federal Agency of insurance supervision (FSSN), since July, 1st, 2007 the minimum size of an authorised capital stock for the companies which are engaged in insurance of property, should make 30 million roubles, for insurers of life - 60 million roubles, and for overcautious persons - 120 million roubles. Insurers of Petersburg in the majority have fulfilled regulator requirements, and only three companies could not make it: Joint-Stock Company the Insurance company ` Balva ` Open Company the Leningrad regional insurance medical organisation and Joint-Stock Company the First city insurance company .
FSSN has withdrawn at them licences therefore as after July, 1st their capital was below the level demanded by a regulator - head of inspection of insurance supervision of Severo - to the Western federal district Cyril Mihalevsky has explained. Besides, as he said, the licence also has been withdrawn at Vologda SK the North - the guarantor . Other players or have reported on capital increase, or it at them was more initially - the mister Mihalevsky has told.
the Market of Petersburg has lost only three companies, it is quite good result, - is assured the main expert on insurance Interfax - TSEA Angela Dolgopolov. - they were small, and hardly it will affect a situation as a whole .
Meanwhile participants of the market are assured that, despite increase of the capital of the insurance companies, with Russia`s accession to the World Trade Organization it is necessary to insurers hardly. the tendency on integration of the market of insurance will proceed, after all the Russian companies should compete to giants. The small companies will continue merge and integration - Dolgopolov`s madam is assured. it is a positive tendency, it will be more convenient to regulator than them to supervise thus. One thousand insurers " is not necessary to Russia; - she is assured. In Petersburg within two years, Dolgopolov`s madam argues, the quantity of the insurance companies will be reduced not less than to 20 %. Now on Severo - to the West it is registered about 80 insurance companies. The assistant to general director SK Russian world Evgenie Gurevich considers that consolidation of the small companies will not affect the market. really on it 15 players now work, and integration of the small companies in any way will not affect them - he is assured.
Anna Ahmedova