IJSC «GEFEST» - WHO WE ARE
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GEFEST IS A MEMBER OF:
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GEFEST joint-stock insurance company was
established in Moscow in 1993
The company is widely recognized as a leader in
construction insurance, including unique,
technically complex and capital-intensive
infrastructure construction projects
The company is aggressively developing into a
universal B2B insurer offering a wide range of
general insurance services for commercial entities
The International Association of Engineering Insurers (IMIA)
The All-Russia Union of Insurers
The Russian Tunnel Association
The Association of Moscow Investors
The Russian Union of Motor Transport Insurers
Russian Anti-Terroristic Insurance Pool
The National Union of Liability Insurers for exploiters of
hazardous industrial objects
IJSC «GEFEST» - WHO WE ARE
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Branches and representatives: in 15 Russian cities. Insurance
protection in 51 regions of Russia
People: more than 300 employees work for the company
nowadays
Financial strength rating by Fitch Ratings on “B+” (positive
outlook) on the international scale and “А” on the national scale
Financial strength A+ rating (very high reliability) on Expert RA
national rating agency
Share capital – 750 mln. RUR (about 25 mln. USD)
STRATEGIC APPROACH:
■ Development of engineering risks insurance and reinsurance,
creation of system approach to new business lines such as MB,
MLOP, LOP, BI, liability
■ Development of new lines of business: insurance of power
industry, oil-and-gas, railway and other transport systems
■ Development of comprehensive insurance
■ At the same time the Company strives to be highly experienced
universal insurance and reinsurance company
OUR COMPETITIVE ADVANTAGES
■ 19 years experience in insurance of the most huge and complex construction projects all
over Russia
■ Perfect relationship with contractors and state customers of a huge construction
projects, financed from federal and regional budget
■ Unique engineering underwriters team with great insurance and on-site work experience
■ Invaluable experience in settlement of huge and complex claims. Professional and highly
experienced team of claims managers
■ Largest claims paid under insured events occurred on Russian CAR/EAR insurance market
■ Reliable reinsurance protection created not only for capital-intensive construction projects
but also to protect properly all kinds of business written by the company
■ Wide range of directions on reinsurance activity: very developed relationship with Russian
companies and great value of international inward and outward business
■ Intensive development of the Company combined with development of a types of
insurance different from CAR/EAR applying the system approach in risks management
■ GEFEST is the national leading expert in liability insurance of Self Regulating Organizations
members (SRO insurance)
■ The new sales channel is operating: cooperation with insurance brokers
POSITIONS ON RUSSIAN MARKET
By the volume of written premiums
IJSC «GEFEST» keeps the 34th place
By the volume of written premium in
CAR/EAR insurance, IJSC «GEFEST»
has been strongly keeping
one of the leading positions
*information provided by Expert RA (Russia) as at 2011
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KEY FINANCIAL FIGURES
Figure, mln USD
2007
2008
2009
2010
2012 (forecast)
Total writen premium
45.7
69.8
50.4
52.3
76.4
82.8
Total earned premium
23.7
43.0
40.8
40.6
47.2
32.5
Net claims paid
5.7
7.1
9.5
11.3
10.9
7,6
Loss ratio,%
24
16
23
28
23
23
Total writen premium, mln USD
90
80
70
60
50
40
30
20
10
0
2011
76.4
69.8
45.7
2007
2008
50.4
52.3
2009
2010
2011
82.8
2012
(forecast)
Loss ratio, %
30
25
20
15
10
5
0
28
24
23
16
23
23
OUR PORTFOLIO STRUCTURE
Liability
5.7%
Inward
Reinsurance
4.7%
Cargo
2.0%
Casualty and
Medical
0.3%
Property
9.8%
Motor
10.5%
CAR/EAR
67.0%
*information as for 2011 year results
CAR/EAR INSURANCE
We are proud of our engineering risks portfolio and effective cooperation with our clients.
JSIC «GEFEST» provides reliable insurance and reinsurance protection for the most
famous and complex construction projects in Russia
CAR/EAR PORTFOLIO
Power industry
6%
Communications
8%
Hydrotechnical
objects
1%
Airports,
runways
1%
Tunnels
23%
Buildings
13%
Roads
21%
*info as at October 2012
Bridges
27%
ENGINEERING ACCOUNT - LARGEST CAR PROJECTS
Location
Sum
Insured,
USD mln
PML, %
from SI
Construction of Sochi central motor highway «Kurortniy prospect
alternate route», 2nd and 3rd stages
Sochi
1 900
9%
Construction of a segment of Doubler (parallel access road) to
Kurortniy Prospekt M-27 Dzhubga-Sochi Federal Highway
Sochi
703
30%
Construction of the federal highway M-27 Djubga-Sochi to the
border with Geoorgia on section Adler-Veseloye
Sochi
400
28%
Building of the southern site of Western High-speed Diameter from
traffic interchange on crossing with the Ring highway around St.
Petersburg to a traffic interchange on Kanonersky island
St.
Petersburg
382
20%
Construction of highway from mountain resort «Alpica-Sevice» to
finish area of ski resort «Roza-Hutor». Arrangement of approaches
to toboggan route, freestyle center, snowboard park and Mountain
Olympic village
Sochi
358
27%
Project
ENGINEERING BUSINESS – LARGEST CLAIMS
Date of
Loss
Loss Description
Class of
Ins
Sum
Insured,
USD mln
Loss
amount,
USD mln
14.12.2009
Sochi cargo port construction damage by severe
storm
CAR
105,7
17,0
10.07.2003
Collapse to the tunnel in construction with the possible
damage to the underground services
CAR
272,9
3,5
06.02.2008
Destruction of temporary lining and soilflow in callote
part of tunnel during temporary lining partition
CAR
134,2
2,1
02.01.2009
Destruction of three construction cranes due to a
construction site fire
CPM
2,4
1,8
19.10.2010
Due to soil subsidence (deformation) on approach
embankment the traffic interchange was damaged and
deformated
CAR
191,5
1,1
OUR TREATIES
CAR/EAR treaty (with indirect section)
Type: excess of loss reinsurance
Base: losses occurring during 1 calendar year w.e.f. 01/01/2012
Total capacity: 100 mln USD on SI/PML basis
Structure:
1st Layer: 3.3 mln USD in excess of 700 000 USD
2nd Layer: 6 mln USD in excess of 4 mln USD
3rd Layer: 90 mln USD in excess of 10 mln USD
Leader: Swiss Re.
Placed via brokers: Challenge Group Ink and RIFAMS IB
Property treaty (with indirect section)
Type: excess of loss reinsurance
Base: losses occurring during 1 calendar year w.e.f. 01/05/2012
Total capacity: 10 mln USD SI/PML/Loss limit basis
Structure:
1st layer: 3 mln USD in excess of 300 000 USD
2nd layer: 6.7 mln USD in excess of 3.3 mln USD
OUR TREATIES
Motor hull treaty
Type: excess of loss reinsurance
Base: risk attaching with effect from 01/04/2012
Total capacity: 1.33 mln USD
Structure: 1st layer: 280 000 USD in excess of 50 000 USD
2nd layer: 1.0 mln USD in excess of 330 000 USD
Cargo treaty
Type: excess of loss reinsurance, commencement date
01.07.2012
Total capacity: 3.33 mln USD
Reinsured`s self retention: 100 000 USD
Self-regulated organizations liability treaty
Type: excess of loss reinsurance, commencement date
01.01.2012
Total capacity: 3.33 mln USD
Reinsured`s self retention: 165 000 USD
INWARD REINSURANCE. FAC + TREATIES
2011. Total written premium –
3,6 mlm USD
CPM
Cargo
Other
1st half of 2012. Total written
premium – 1,5 mln USD
Personal
accident
Other
CPM
Personal
accident
Motor hull
Liability
Cargo
Liability
Liability of
Exploiters of
hazardous
Objects
Motor hull
Property
CAR/EAR
Property
CAR/EAR
REINSURANCE TEAM
Vladimir Chubukov
The First deputy General Director,
in charge of reinsurance
Grigory Vinogradov
Head of Reinsurance department
Elena Orlova
Deputy Head
of Reinsurance department
Treaties
Denis Nikolaicev
Chief underwriter of Reinsurance department
Engineering risks
Thank you for attention!
Any questions?
GEFEST Reinsurance Team
reinsurance@gefest.ru