OREANDA-NEWS. According to the International Financial Reporting Standards (IFRS), the total premiums of SOGAZ Insurance Group (excluding Compulsory Medical Insurance) increased by 15.6% as of the end of 2015 as compared to 2014 to RUB 141 billion.

Premiums of SOGAZ Insurance, the key member of the Group, increased by 17% to RUB 127.4 billion. The Company accounts for 90% in the total amount of the Group business.

In absolute terms, the largest growth of SOGAZ Insurance premiums was recorded in personal insurance. Voluntary Medical Insurance premiums increased by RUB 5.4 billion to RUB 34.5 billion (+19%). Accident Insurance premiums increased by RUB 5.6 billion to RUB 8.2 billion (+207%), driven mainly by the conclusion of a large contract for military personnel insurance of the Ministry of Defense of the Russian Federation.

Legal Entities Property Insurance premiums increased by 25% to RUB 33.3 billion. There was a slight decrease in Construction and Erection Risks Insurance, to RUB 11.5 billion (-2%).

Special insurance premiums have noticeably increased. Thus, Marine Insurance brought almost RUB 1.77 billion (+86%). Aviation Insurance premiums increased by 85% to RUB 3.2 billion. Cargo Insurance premiums amounted to RUB 3.4 billion (+56%).

The amount of Compulsory Hazardous Facilities Owners Liability Insurance premiums increased by 3% to RUB 1.5 billion, irrespective of the decreased tariff rates and reduced number of insured objects. Compulsory Passenger Liability Insurance premiums decreased by 25% to RUB 779 billion.

Compulsory Motor TPL Insurance brought RUB 7.75 billion, which is 81% more than in the previous year. This is due not only to the growth of tariff rates but also to the increase of the client base by more than 20%. Hull Insurance premiums decreased by 10% to RUB 6.8 billion. As of the end of the year, these lines of insurance in the Company's portfolio accounted for 6% and 5%, respectively.

Mortgage Insurance premiums grew by 62% to RUB 1.7 billion. Individual Property Insurance premiums increased by 30% to RUB 405 billion.

Incoming reinsurance provided SOGAZ with RUB 5.47 billion of premiums.