Eastern Insurance and Reinsurance Company
+7 (495) 777-8042

Financial Results


The aggregate premium of The Eastern Reinsurance Company and Insurance Company "Megapolis" amounted to 936.644 million rubles at year-end 2010. The aggregate portfolio growth amounted to 101%.

The sum of the signed premiums of the Eastern Reinsurance Company amounted to 574.2 million rubles. This rate has reduced by 13% compared to 2009. The reduction was due to portfolio adjustments in connection with the accession of the Eastern Reinsurance Company into the IC "Megapolis", that is the excluding of mutual volumes of reinsurance operations, as well as the planned cancelling of loss obligatory treaties in 2010 – that is 9 contracts for a total amount of premium of 101,8 million rubles.

At the same time in 2010 there was a growth of international business of the Eastern Reinsurance Company. The Share of reinsurance premiums received from abroad amounted to 25% of the portfolio; premium growth has reached 159.5%. In 2010, the Eastern Reinsurance Company has worked with 37 countries (30 by the end of 2009), including the CIS countries and abroad.
The payments of the Eastern Reinsurance Company in 2010 amounted to 354.379 million rubles, and the decrease of payments amounted to 12% compared to 2009. The payment ratio amounted to 61.7% (61.4% in 2009).
The sum of the signed premiums of the IC "Megapolis" by the end of 2010 amounted to 362.444 million rubles, which is 30% higher than premium income in 2009. The payments amounted to 133.275 million rubles. The coverage ratio has declined by 2% and amounted to 37% (39% in 2009).

The share of premium of the Russian regions affiliates of the IC "Megapolis" is 42% of portfolio (the growth of premiums in 2010 amounted to 141%), and 58% of the premiums were collected by the head department in Moscow (the growth by 126%). The growth in premiums in Moscow and regions is provided on the background of more than halving the company's employees (in the IC "Megapolis" were employed 233 people at the end of 2009, and 102 people at the end of 2010), as well as the closure in 2010 of 9 branches (there were opened 3 new branches). Such measures have been implemented as a optimizing business strategy of IC "Megapolis" and unification with Eastern Reinsurance Company.

At present, the legal procedure for merger of the Eastern Reinsurance Company into the IC "Megalopolis", Ltd, is completed. The authorized capital of the merged company amounts to 600 million rubles. In a joint portfolio by the end of 2010, 61% of premium accounts for incoming reinsurance, 39% - for direct insurance. The structure of insurance portfolio is as follows: 36% accounts for automobile transport, 21% - property, 16% - responsibility (except CMTPL), 12% - CMTPL, 10% - VHI, 2% - accident insurance, 1% - air transport, 2% - other types of insurance.

Feedback >>

Want to ask a question or write a review of the company?

Subscribe >>

Subscribe to company news electronically.

Treaty Programmes >>

Programmes on 2011 year