2. ■ GEFEST joint-stock insurance company was
established in Moscow in 1993
■ The company is widely recognized as a leader in
construction insurance, including unique,
technically complex and capital-intensive
infrastructure construction projects
■ The company is aggressively developing into a
universal B2B insurer offering a wide range of
general insurance services for commercial entities
IJSC «GEFEST» - WHO WE ARE
GEFEST IS A MEMBER OF:
■ The International Association of Engineering Insurers (IMIA)
■ The All-Russia Union of Insurers
■ The Russian Tunnel Association
■ The Association of Moscow Investors
■ The Russian Union of Motor Transport Insurers
■ Russian Anti-Terroristic Insurance Pool
■ The National Union of Liability Insurers for exploiters of
hazardous industrial objects
3. ■ Branches and representatives: in 15 Russian cities. Insurance
protection in 51 regions of Russia
■ People: more than 300 employees work for the company
nowadays
■ Financial strength rating by Fitch Ratings on “B+” (positive
outlook) on the international scale and “А” on the national scale
■ Financial strength A+ rating (very high reliability) on Expert RA
national rating agency
■ Share capital – 750 mln. RUR (about 25 mln. USD)
STRATEGIC APPROACH:
■ Development of engineering risks insurance and reinsurance,
creation of system approach to new business lines such as MB,
MLOP, LOP, BI, liability
■ Development of new lines of business: insurance of power
industry, oil-and-gas, railway and other transport systems
■ Development of comprehensive insurance
■ At the same time the Company strives to be highly experienced
universal insurance and reinsurance company
IJSC «GEFEST» - WHO WE ARE
4. ■ 19 years experience in insurance of the most huge and complex construction projects all
over Russia
■ Perfect relationship with contractors and state customers of a huge construction
projects, financed from federal and regional budget
■ Unique engineering underwriters team with great insurance and on-site work experience
■ Invaluable experience in settlement of huge and complex claims. Professional and highly
experienced team of claims managers
■ Largest claims paid under insured events occurred on Russian CAR/EAR insurance market
■ Reliable reinsurance protection created not only for capital-intensive construction projects
but also to protect properly all kinds of business written by the company
■ Wide range of directions on reinsurance activity: very developed relationship with Russian
companies and great value of international inward and outward business
■ Intensive development of the Company combined with development of a types of
insurance different from CAR/EAR applying the system approach in risks management
■ GEFEST is the national leading expert in liability insurance of Self Regulating Organizations
members (SRO insurance)
■ The new sales channel is operating: cooperation with insurance brokers
OUR COMPETITIVE ADVANTAGES
5. 34
2
POSITIONS ON RUSSIAN MARKET
By the volume of written premiums
IJSC «GEFEST» keeps the 34th place
By the volume of written premium in
CAR/EAR insurance, IJSC «GEFEST»
has been strongly keeping
one of the leading positions
*information provided by Expert RA (Russia) as at 2011
8. We are proud of our engineering risks portfolio and effective cooperation with our clients.
JSIC «GEFEST» provides reliable insurance and reinsurance protection for the most
famous and complex construction projects in Russia
CAR/EAR INSURANCE
10. Project Location
Sum
Insured,
USD mln
PML, %
from SI
Construction of Sochi central motor highway «Kurortniy prospect
alternate route», 2nd and 3rd stages
Sochi 1 900 9%
Construction of a segment of Doubler (parallel access road) to
Kurortniy Prospekt M-27 Dzhubga-Sochi Federal Highway
Sochi 703 30%
Construction of the federal highway M-27 Djubga-Sochi to the
border with Geoorgia on section Adler-Veseloye
Sochi 400 28%
Building of the southern site of Western High-speed Diameter from
traffic interchange on crossing with the Ring highway around St.
Petersburg to a traffic interchange on Kanonersky island
St.
Petersburg
382 20%
Construction of highway from mountain resort «Alpica-Sevice» to
finish area of ski resort «Roza-Hutor». Arrangement of approaches
to toboggan route, freestyle center, snowboard park and Mountain
Olympic village
Sochi 358 27%
ENGINEERING ACCOUNT - LARGEST CAR PROJECTS
11. Date of
Loss
Loss Description
Class of
Ins
Sum
Insured,
USD mln
Loss
amount,
USD mln
14.12.2009
Sochi cargo port construction damage by severe
storm
CAR 105,7 17,0
10.07.2003
Collapse to the tunnel in construction with the possible
damage to the underground services
CAR 272,9 3,5
06.02.2008
Destruction of temporary lining and soilflow in callote
part of tunnel during temporary lining partition
CAR 134,2 2,1
02.01.2009
Destruction of three construction cranes due to a
construction site fire
CPM 2,4 1,8
19.10.2010
Due to soil subsidence (deformation) on approach
embankment the traffic interchange was damaged and
deformated
CAR 191,5 1,1
ENGINEERING BUSINESS – LARGEST CLAIMS
12. CAR/EAR treaty (with indirect section)
Type: excess of loss reinsurance
Base: losses occurring during 1 calendar year w.e.f. 01/01/2012
Total capacity: 100 mln USD on SI/PML basis
Structure:
1st Layer: 3.3 mln USD in excess of 700 000 USD
2nd Layer: 6 mln USD in excess of 4 mln USD
3rd Layer: 90 mln USD in excess of 10 mln USD
Leader: Swiss Re.
Placed via brokers: Challenge Group Ink and RIFAMS IB
Property treaty (with indirect section)
Type: excess of loss reinsurance
Base: losses occurring during 1 calendar year w.e.f. 01/05/2012
Total capacity: 10 mln USD SI/PML/Loss limit basis
Structure:
1st layer: 3 mln USD in excess of 300 000 USD
2nd layer: 6.7 mln USD in excess of 3.3 mln USD
OUR TREATIES
13. Motor hull treaty
Type: excess of loss reinsurance
Base: risk attaching with effect from 01/04/2012
Total capacity: 1.33 mln USD
Structure: 1st layer: 280 000 USD in excess of 50 000 USD
2nd layer: 1.0 mln USD in excess of 330 000 USD
Cargo treaty
Type: excess of loss reinsurance, commencement date
01.07.2012
Total capacity: 3.33 mln USD
Reinsured`s self retention: 100 000 USD
Self-regulated organizations liability treaty
Type: excess of loss reinsurance, commencement date
01.01.2012
Total capacity: 3.33 mln USD
Reinsured`s self retention: 165 000 USD
OUR TREATIES
15. Vladimir Chubukov
The First deputy General Director,
in charge of reinsurance
Grigory Vinogradov
Head of Reinsurance department
Elena Orlova
Deputy Head
of Reinsurance department
Denis Nikolaicev
Chief underwriter of Reinsurance department
Treaties
Engineering risks
REINSURANCE TEAM
16. Thank you for attention!
Any questions?
GEFEST Reinsurance Team
reinsurance@gefest.ru
