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IPJSC Ingosstrakh (Russian: СПАО «Ингосстра́х») is one of the major insurance companies of Russia, insurance public joint-stock company. Headquartered in Moscow, Russia.

Joint-stock company
Key people
Michail Volkov, CEO
Revenue$1.44 billion[1] (2018)
$113 million[1] (2018)
Total assets$2.76 billion[1] (2018)
Total equity$1.18 billion[1] (2018)

Ingosstrakh is the legal successor of the Chief Agency of Foreign Insurance of the USSR founded in 1947. In 1972 transformed to the stock company (100% government shares) and in 1992 it went private.

Licenses to provide all types of insurance and reinsurance specified in the Russian Federation Law on Insurance in the Russian Federation allow the company to provide comprehensive protection of financial interests of its clients. The company's reinsurance partners include Russian National Reinsurance Company and leading international companies: Allianz, AXA, Caisse centrale de réassurance (CCR), Gen Re, Hannover Re, Lloyd's syndicates, Munich Re, Partner Re, QBE, SCOR, Swiss Re, Transatlantic Re, XL Re etc.

Ingosstrakh's services are available everywhere in the Russian Federation thanks to its wide regional network, which includes 83 branches. The Company's offices operate in 220 Russian cities.

The first subsidiary foreign companies were established in London in 1924 – Blackbalsea and in Hamburg in 1927.

Moreover, Ingosstrakh holds shares in companies operating in the CIS and foreign countries. INGO international insurance group includes the companies in which Ingosstrakh holds at least a 50% share. Currently 4 companies abroad (Armenia, Belarus, Uzbekistan, Kyrgyzstan) and 8 companies within Russian Federation are members of INGO.

Four representative offices of Ingosstrakh operate in the foreign countries – Azerbaijan, Kazakhstan, India and China.

In 2007, PPF Beta Ltd, managed by the Czech group PPF Investments, became one of the owners of Ingosstrakh. In January 2007 the PPF Group together with the large global insurer Generali (Italy) created the holding company Generali PPF Holding to develop the insurance operations in the countries of Eastern and Central Europe. All PPF insurance assets in Russia were transferred to this holding, including a stake in Ingosstrakh. In January 2013, the insurance business was split between PPF and Generali, according to the terms of the transaction, the holding's share in Ingosstrakh was transferred to the Italian insurance group.


Company historyEdit

  • 16 November 1947: The birthday of Ingosstrakh. On this day the Council of Ministers of the USSR signed a decree No. 3819-1281с "On the Establishment of the Agency of Foreign Insurance of USSR (Ingosstrakh) as Part of the Agency of Foreign Operations (UINO) of Gosstrakh of USSR".
  • 2 June 1948: "Regulation on the Agency of Foreign Insurance of USSR (Ingosstrakh)" was approved by the decree of the Council of Ministers of the USSR.
  • 1952: A general representative office of Ingosstrakh opened in Finland.
  • 1956 – 1964: Blackbalsea (Great Britain), a subsidiary of Ingosstrakh, opened its branches in France, Egypt (1956), Syria (1958), Lebanon (1961) and Sudan (1964).
  • 1958: Garant insurance company was established in Austria.
  • 20 July 1972: The Council of Ministers of the USSR issued a decree which provided Ingosstrakh with the status of a Chief Agency of Foreign Insurance of USSR. At the same time, Ingosstrakh acquired a new legal status: it gained the right to operate abroad and if necessary at home as well as a joint-stock insurance company.
  • 1980: Ingosstrakh acted as a general insurer of the 22nd Summer Olympic Games in Moscow.
  • 1996: An edition of the company's new Articles of Association with a new name "Otkrytoye strakhovoye aktsionyernoye obshestvo Ingosstrakh", in the English language: «Ingosstrakh Joint Stock Insurance Company Ltd.», abbreviated name in the English language: Ingosstrakh Insurance Company Ltd.
  • 1997: An agreement on the establishment of Ingosstrakh Multinational Group was signed.
  • 1998: A representative office of the company opened in China. The Ingosstrakh network included 42 structural units in the territory of Russia, as well as 10 subsidiaries and representative offices in the countries of Europe, Asia and America.
  • 1999: Ingosstrakh exceeded the pre-crisis level of operations. The number of provided types of insurance reached 66.
  • 2003: Representative offices of Ingosstrakh opened in Ukraine, Azerbaijan and Uzbekistan. Insurance companies Ostra-Kyiv (Ukraine) and Efes (Armenia) joined Ingosstrakh Multinational Group. The number of licensed insurance types rose to 87.
  • August 2004: An additional issue was performed and the authorized capital of Ingosstrakh rose to 2 billion rubles.
  • 27 August 2004: An agreement on the establishment of INGO International Insurance Group (INGO) was signed in Helsinki. The management of the controlling stock of these companies is performed by Ingosstrakh.
  • 2006: Memoranda of Cooperation between Ingosstrakh and the companies of the Italian SACE Group, SACE Spa and SACE BT were signed in Rome. Concluded agreements provide for the active cooperation of the parties in relation to the support and development of trade relations between Italy and Russia.
  • June 2006: The paperwork in relation to the transaction on the accession of the Belgian Export Credit Agency ONDD into the capital of insurance company Garant JSC, the subsidiary of Ingosstrakh, was completed. For the first time in the international credit insurance market an equal Russian-European partnership was formed.
  • 2007: According to preliminary figures, the total volume of collections by the companies of the INGO Group: SOVAG (Germany), INGO Ukraine (Ukraine), Garant (Austria), IngoNord (Finland), Belingostrakh (the Republic of Belarus), Ingo Armenia (the Republic of Armenia), Kyrgyzinstrakh (the Kyrgyz Republic), Ingosstrakh Insurance Company (Russia), Ingosstrakh Life Insurance Company (Russia), Ingosstrakh-M Insurance Company (Russia), Contingency Insurance Company JSC (Russia), JSC MSK "EMESK" (Russia).
  • 2008: Ingosstrakh Insurance Company concluded an agreement stipulating the purchase of 76% of authorized capital of the Standard Insurance Group JV LTD, an insurance company of Uzbekistan. The transaction was concluded within the framework of the Ingosstrakh's market growth strategy in the priority insurance markets of CIS countries, Uzbekistan being one of them.
  • 2009: Ingosstrakh together with the Belgian state export credit agency Office National du Ducroire (ONDD) established INGO-ONDD which specializes in the provision of protection from credit risks for home and international companies operating in the Russian market.
  • September 2010: On 18 September Alexander Grigoriev, CEO of Ingosstrakh Insurance Company, and Dmitry Chernyshenko, President of the Organizing Committee of Sochi 2014, signed agreements according to which the company would obtain an official status of the Partner of the 2014 Winter Olympics and 2014 Winter Paralympics in Sochi. Ingosstrakh Insurance Company will also be a Partner of the Olympic and Paralympic Committees of Russia (until the end of 2016) and Partner of the Olympic and Paralympic Russian national teams (with respect to each national team of 2012, 2014 and 2016 Olympic Games) in the category "Insurance".
  • November 2010: Ingosstrakh has fully settled the insurance event, related to the destruction of towers of the World Trade Center in New York as a result of the terrorist attack which occurred on 11 September 2001. Allianz Global Risks U.S. Insurance Company acted as a risk insurer in this case. Ingosstrakh participated in its handling under the reinsurance agreement with a retrocedent, a French insurance company SCOR SE.
  • 2011: On 24 June 2011 business negotiations between Alexander Grigoriev, the CEO of Ingosstrakh Insurance Company, and Wan Feng, the President of China Life, the largest life insurance company of continental China, took place in Moscow. The meeting resulted in the signing of a contract on the mutual reinsurance and standards of organization of servicing of tourists of both countries during their visits to the Russian Federation and the People's Republic of China.
  • 2012: Ingosstrakh Insurance Company made the biggest payment in the history of the national insurance market at that moment, having transferred 7,552,920,165.30 rubles to the Russian Satellite Communication Company.
  • April 2013: Ingosstrakh Insurance Company was the first among Russian insurance companies to be accredited by the Republic of India and included into the list of the "approved" insurers by the country's government for 5 years. This accreditation enabled vessels insured with Ingosstrakh Insurance Company for unchecked port calls in India.
  • October 2013: Ingosstrakh Insurance Company was recognized as the most valuable insurance brand in Russia in 2013, according to Interbrand research group. The agency experts estimated the cost of the brand as RUB 4.074 bn.
  • January 2014: Ingosstrakh Insurance Company has increased the limit of shipowners’ liability insurance (P&I) to USD 1 bn, which made it the first commercial insurer in the Russian P&I insurance market in terms of insurance limit amount, and the second one in the world.
  • April 2014: 2 April 2014. Mikhail Volkov was elected as the chief executive officer of Ingosstrakh Insurance Company for 3 years at the meeting of the board of directors of Ingosstrakh Insurance Company. He also became the President of the company's Board of Management.
  • 2015: Ingosstrakh, IBM and Krastcom completed a project for modernization of computing infrastructure for a key ERP system of Ingosstrakh PJSIC entitled Ingosstrakh AIS.
  • 2016: Ingosstrakh and Ice Hockey Federation of Russia signed an agreement whereby Ingosstrakh PJSIC became an official partner of 2016 IIHF World Championship conducted in Russia. The event was held from 6 May until 22 May 2016, on Moscow and Saint-Petersburg rinks.
  • 2017: Ingosstrakh celebrated its 70th anniversary on 16 November 2017. The year was a beginning of a new epoch in the development of Ingosstrakh – the company presented an updated development strategy. The company is being updated under the slogan "Ingosstrakh 7.0 – insurance in the seventh generation".
  • July 2018: Ingosstrakh enriched the list of service centers – partners servicing customers abroad. As instructed by the insurance company, service centers provide for 24/7 consulting and, if needed, arrangement of medical services for customers abroad in accordance with Insurance Rules and other expenses related to traveling abroad. Ingosstrakh works with service centers helping the travelers in more than 130 countries.
  • October 2018: International rating agency Standard & Poor's Global Ratings (S&P) increased long-term credit ratings of the issuer and financial sustainability rating of the insurance company Ingosstrakh from BB+ to BBB–. The outlook is Stable. Agency made such a decision due to high capitalization figures and enlarged investment portfolio quality of the company corresponding to BBB rating requirements.
  • December 2018: RAEX (Expert Rating Agency) confirmed the financial safety rating of Ingosstrakh PJSIC to be ruAAA. Rating outlook is stable.


Good business standing of Ingosstrakh was confirmed by the International rating agency Standard & Poor's: the Ingosstrakh long-term credit rating of the contractor and the financial strength rating is at the level "BBB-", national scale rating is "ruAA+", rating forecast is "Stable". The Russian rating agency Expert RA reaffirmed Ingosstrakh's highest financial stability rating at A++. For the first time the insurer received such rating in 2002.


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