2 MilestonesIn 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)22
3 Vision & mission Vision Mission 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.MissionTo 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.
4 Market Leading Company Highlights & competencesMarket Leading CompanyLeading specialistRanked 1st by reinsurance GPW among specialist reinsurers in Russia & CIS in 2010Established teamHighly regarded & solid management team, stable since 2006Strong financial performanceConsistently 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 capitalisationExceptionally capitalised with a very strong solvency marginRatedFinancial Strength Rating from a leading international agencyRegional distributionDistribution across the whole of Russia and the former USSR territories and overseasCorporate governanceIFRS audited accounts since year-end Experienced Supervisory Board. Operating to international standardsExcellent operational performance2010: GPW growth – 9.1%; market share 5%; Renewal ratio – 87,7%; GPW per capita – 51,1 mln RURLargest and most stable clients’ base357 companies from Russia, CIS and overseasBrandA recognizable brand with Russia/FSU; London market; MENA region and SEA44
5 Legal & complianceThe 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 ofSince 2007, KPMG has been the official auditor of Unity Re for IFRS financials.
6 International ratingUnity Re has the following actual international ratings assigned: RatingOutlookStatusStandard & Poor's BB- / ruAA- positiveLast modRating reports specially outline Unity Re’s:Good capitalizationProfitabilityStrong position in the domestic marketVery good level of retrocession protection
7 International rating«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»
8 Portfolio 2010The 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.
9 Portfolio 2010344 (re)insurance and broking companies from Russia, CIS & overseas287 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.
10 Portfolio 2010The 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.
11 Largest paid claims 2006-2010 Amount paid, USD Year Cedant Class Comment2010SOGAZPropertyFire at a refinery2007Renessans insuranceFurnace explosion at Azovsteel plantAzRe (Azerbaijan)MarineCrash of a motor yachtROSNOExplosion at Sayano-Shushenskaya HPP2008Spasskie vorotaFire at a business centerMICFire at a food factoryEnergogarantFire at Reftinskaya hydro power plant2009Military Insurance Co.Crash of a trainRenaissance insuranceFire at a plantLoss of cargo washed from deckSogazAviationCrash of aircraft during lendingEQ at SakhalinSoglasieDamage to a vessel by groundingStandard-ReservePAAccidental deathAsuransi Jasa (Indonesia)EQArd Daatgal (Mongolia)Storm damage to residential property
12 Market position 2010Top-10 specialist reinsurers writing genuine reinsurance, 2010:RankCompanyGPW,‘000 RUR1Unity Re2Moscow Re3Transsib Re4Kapital Re5Eastern Re6Russian Re7Munich Re Life CIS8Rosles Re9Megaruss Re10SCOR Reinsurance
15 Capacity 2011 LOB Maximum line - Net retention, PML basis Maximum line Gross retentionProperty (FAP/PAR/IAR)USD 1,000,000USD 50,000,000 (for business from Russia/CIS – XOL treaty)CAR/EAREnergy off-shore-Marine hull / P&IUSD 500,000USD 7,000,000 (worldwide, XOL treaty)CargoGTPLAviationMotorUSD 250,000Personal accidentUSD 200,000USD 1,500,000
16 Team International business: Dmitry Garmash, Deputy CEO MA (Fin), Ph.D., MBAIgor Shekhovtsov, Director of International business dept.MA (Fin)Dmitry Vanin, Director on business developmentMA (Sc)Underwriting:Svetlana Chepeleva, Deputy CEO, Chief underwriter P&CMA (Fin), over 22 years of u/w experienceElena Myasnikova, Managing Underwriter, MarineMA (Fin), over 12 years of u/w experienceJulia Mironenko, Managing Underwriter, TreatyMA (Fin), over 12 years of u/w experiance
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