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UNITY RE CORPORATE PROFILE 2011. 2 Milestones In 1991, North-West Insurance Co. was registered and then acquired by Group RESO – one of the largest insurance.

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Presentation on theme: "UNITY RE CORPORATE PROFILE 2011. 2 Milestones In 1991, North-West Insurance Co. was registered and then acquired by Group RESO – one of the largest insurance."— Presentation transcript:

1 UNITY RE CORPORATE PROFILE 2011

2 2 Milestones In 1991, North-West Insurance Co. was registered and then acquired by Group RESO – one of the largest insurance holdings with Russia and FSU. In 2004, renamed into Reso Re and started its active development within the reinsurance market of Russia and CIS. In 2005, became one of the first reinsurers in FSU to receive the full-scale international financial strength rating: ‘B+’ by Standard & Poor’s. In 2006, rebranded to Unity Re and also restructured to obtain more high- qualified and experienced team to promote further as the specialist reinsurance center of Group RESO and strategically the leading reinsurer within FSU. In 2007, started operations in overseas markets, writing property, construction and marine business from South America, MENA and SEA regions. In 2007, was granted with the international financial strength rating of ‘BB-’ from Standard & Poor’s. It is maintained until nowdays with the enhancement of the rating outlook from stable to positive. In 2008, promoted actively within the core markets – Russia and CIS, - closing the year as the most dynamically growing specialist reinsurer in the region. In 2009, demonstrated an excellent performance despite the burden of world financial crisis, meanwhile becoming the largest national treaty reinsurer. In 2010, Unity Re finally conquered the top position in the market, ranked the first among the specialist reinsurers in Russia (over 1 bln RUR of GPW)

3 Vision Developing to maintain the position of the regional reinsurance market leader with Russia and FSU, providing the widest available scope of the first class reinsurance cover and confident linked services from a position of the absolute leading, financially stable, fast and attentive national reinsurer, and gradually promoting overseas as the reasonable medium-size capacity market player highly committed as a supporting reinsurer for the traditional lines of business. Mission To provide a very fast response to cedants’ demands for a wide range of non-life reinsurance lines of business with the first class growing capacity and additional services; to support the clients with underwriting expertise, confident and prompt claims settlement and relevant advisory; to rely upon a stable, integral and solid team of professionals fully committed to company’s performance and clients’ needs; to promote the status of a leading Russian/FSU specialist reinsurer well known worldwide. Vision & mission

4 4 Market Leading Company Leading specialist Ranked 1 st by reinsurance GPW among specialist reinsurers in Russia & CIS in 2010 Established team Highly regarded & solid management team, stable since 2006 Strong financial performance Consistently profitable with strong underlying growth. Results of 2010 (IFRS): net profit 198.4m US$; LR 53.6%; combined ratio 78.9%; ROE 29.84% Strong capitalisation Exceptionally capitalised with a very strong solvency margin Rated Financial Strength Rating from a leading international agency Regional distribution Distribution across the whole of Russia and the former USSR territories and overseas Corporate governance IFRS audited accounts since year-end Experienced Supervisory Board. Operating to international standards Excellent operational performance 2010: GPW growth – 9.1%; market share 5%; Renewal ratio – 87,7%; GPW per capita – 51,1 mln RUR Largest and most stable clients’ base 357 companies from Russia, CIS and overseas Brand A recognizable brand with Russia/FSU; London market; MENA region and SEA Highlights & competences

5 The 100% shareholder of Unity Re is RESO Holding - one of the leading insurance holdings within Russia & CIS. Currently, the paid-up capital of Unity Re is 500m RUR (~16.6m USD) The actual reinsurance license No of Since 2007, KPMG has been the official auditor of Unity Re for IFRS financials. Legal & compliance

6 Unity Re has the following actual international ratings assigned: RatingOutlookStatus Standard & Poor's BB- / ruAA- positiveLast mod Rating reports specially outline Unity Re’s: Good capitalization Profitability Strong position in the domestic market Very good level of retrocession protection International rating

7 «The ratings reflect the company's improving competitive position, good capitalization, strong results from insurance business, and good quality of investment portfolio instruments». «Unity Re continues to deliver strong results from insurance operations, continually improving its competitive advantages and strengthening its capitalization». «The positive outlook reflects our expectation that Unity Re will further enhance its competitive position through growth in premiums and number of risks and greater portfolio diversification while maintaining good levels of operating performance and preserving very strong risk- based capital adequacy». «Unity Re's capital adequacy is very strong, according to our risk-based model» International rating

8 The scope of Unity Re’s activities is classic reinsurance, where the company offers coverage for all major lines of business: general property, construction, energy and petrochemical, cargo, marine hull, aviation, accident & health, liability. Portfolio 2010

9  344 (re)insurance and broking companies from Russia, CIS & overseas  287 companies from Russia, inc. all players from Top-50 (a unique!)  cooperation with all major brokers operating in Russia, inc.: Marsh, Willis, Aon, Malakut, THB, Nasco, AFM etc. Portfolio 2010

10 The major geographical scope of Unity Re’s business is focused at Russia & CIS. Additionally, since 2006, Unity Re has intensified its activities in overseas markets, writing business from South-East Asia, Central & South America and Africa. Portfolio 2010

11 Amount paid, USD YearCedantClassComment SOGAZPropertyFire at a refinery Renessans insurancePropertyFurnace explosion at Azovsteel plant AzRe (Azerbaijan)MarineCrash of a motor yacht ROSNOPropertyExplosion at Sayano-Shushenskaya HPP Spasskie vorotaPropertyFire at a business center MICPropertyFire at a food factory EnergogarantPropertyFire at Reftinskaya hydro power plant Military Insurance Co.PropertyCrash of a train Renaissance insurancePropertyFire at a plant Spasskie vorotaMarineLoss of cargo washed from deck SogazAviationCrash of aircraft during lending SogazPropertyEQ at Sakhalin SoglasieMarineDamage to a vessel by grounding Standard-ReservePAAccidental death Asuransi Jasa (Indonesia)PropertyEQ Ard Daatgal (Mongolia)PropertyStorm damage to residential property Largest paid claims

12 Top-10 specialist reinsurers writing genuine reinsurance, 2010: RankCompanyGPW, ‘000 RUR 1Unity Re Moscow Re Transsib Re Kapital Re Eastern Re Russian Re Munich Re Life CIS Rosles Re Megaruss Re SCOR Reinsurance Market position 2010

13 Key financials, IFRS

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15 LOBMaximum line - Net retention, PML basis Maximum line Gross retention Property (FAP/PAR/IAR) USD 1,000,000USD 50,000,000 (for business from Russia/CIS – XOL treaty) CAR/EARUSD 1,000,000USD 50,000,000 (for business from Russia/CIS – XOL treaty) Energy off-shoreUSD 1,000,000- Marine hull / P&IUSD 500,000USD 7,000,000 (worldwide, XOL treaty) CargoUSD 500,000USD 7,000,000 (worldwide, XOL treaty) GTPLUSD 500,000- AviationUSD 500,000- MotorUSD 250,000- Personal accidentUSD 200,000USD 1,500,000 Capacity 2011

16 International business: Dmitry Garmash, Deputy CEO –MA (Fin), Ph.D., MBA Igor Shekhovtsov, Director of International business dept. –MA (Fin) Dmitry Vanin, Director on business development –MA (Sc) Underwriting: Svetlana Chepeleva, Deputy CEO, Chief underwriter P&C –MA (Fin), over 22 years of u/w experience Elena Myasnikova, Managing Underwriter, Marine –MA (Fin), over 12 years of u/w experience Julia Mironenko, Managing Underwriter, Treaty –MA (Fin), over 12 years of u/w experiance Team

17 125047, Russian Federation, Moscow, Gasheka st., 12 Tel.: Fax: Contacts


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