Sogaz

SOGAZ is a Russian insurance company. SOGAZ became the first in Russia by written premium (₽142.8 billion or US$2.3 billion) and market share (12.1%) in 2016.[2] The company was formed in 1993[3] and has direct business in Russia and Serbia.[4] Insurance company SOGAZ as well have shares in many companies and own a number of insurers.

SOGAZ
TypeJoint-Stock Company
IndustryInsurance
FoundedOctober 25, 1993 (1993-10-25) in Moscow, Russia
FounderGazprom
Headquarters
Moscow
,
Russia
Area served
Nationwide
Key people
Anton Ustinov (CEO)
Revenue$3.07 billion[1] (2017)
$675 million[1] (2017)
$524 million[1] (2017)
Total assets$6.09 billion[1] (2017)
Total equity$1.88 billion[1] (2017)
Number of employees
12,200
SubsidiariesSOGAZ-Life, SOGAZ-Med, SOGAZ-MedService,
SOGAZ a.d.o. Novi Sad, SOGAZ International Healthcare Center, SOGAZ-Finance, SOGAZ-Broker, Accept (REN TV),
Websitehttps://www.sogaz.ru/eng

SOGAZ partners are leading worldwide reinsurance companies: Munich Re, Hannover Re, Partner Re, Swiss Re, SCOR, Lloyds of London, and others. SOGAZ - in accordance with national laws - is ceding 10% of total ceded risks under insurance contracts to Russian National Reinsurance Company (RNRC).[5]

Credit ratings

SOGAZ become the first Russian insurer assigned a long-term credit rating BBB+ in Russian and foreign currency with a "stable" outlook by Dagong Chinese Rating Agency.[3] A.M. Best has affirmed for SOGAZ (Russia) the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of "bbb" and revised the outlooks to stable from negative.[6]

Acquisitions

SOGAZ carries out a consistent and active policy on the purchase of attractive insurance assets. The objects of such purchases are always captive insurers and insurance companies focused on corporate insurance, except VTB Insurance which had been a subsidiary of VTB Bank. SOGAZ acquired 7 notable companies in the Russian insurance market:

References
  1. "International Financial Reporting Standards Consolidated Financial Statements and Independent Auditor's Report" (PDF). Retrieved 1 November 2018.
  2. Russian Insurers Top-20 - written premium
  3. SOGAZ history
  4. Srbijagas and Sogaz to form joint insurance company
  5. Russian National Reinsurance Company - outlook
  6. A.M. Best Revises Outlooks to Stable for INSURANCE COMPANY OF GAZ INDUSTRY SOGAZ
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