Press-Center - ВТБ Страхование

VTB Insurance publishes 2013 RAS statements

31 March 2014

VTB Insurance, Ltd. published the audited accounting statements for 2013 under Russian Accounting Standards (RAS).

Total amount of fees collected by VTB Insurance in 2013 amounted to 31.8 bln rubles ($635.0m). This figure is 38% higher than company's fees collected in 2012. Total amount of compensations paid by VTB Insurance in 2013 amounted to 11.6 bln rubles ($231.7m).

The charter capital of VTB Insurance, Ltd. rose from 1.54 bln rubles ($30.8m) to 5.5 bln rubles ($109.8m) in 2013. The capital increase was implemented at the expense of the insurance company's property and was related to growing business volumes necessitating company's capitalization rise.

VTB Insurance is one of the most dynamic companies on the market at 2007- 2013 end. – amount of premiums during that period rose by more than 26 times. The company managed to climb from 49th place in the insurers list in 2007 to 9th place at 2013 year-end.

VTB Insurance was founded in 2000 and is affiliated with the largest international financial group VTB. VTB Insurance's equity totals 7.7 bln rubles ($154.3m). Branches and sales outlets of the company are operating in more than 90 largest Russian cities. The insurer is ranked among ten largest market participants. The company has the highest strength ratings of Russian and international agencies.