AFC «System», Allianz ROSNO and continue the successful partnerships in Russia. Assessing the Russian market for life insurance as an extremely promising, they are launching a new project - the company «Alliance ROSNO Life».
The company AFK «System», Allianz and ROSNO announced today at a press conference on the early work of specialized life insurance companies «Alliance ROSNO Life». It is a 100% subsidiary of ROSNO.
At the press conference were: First Vice-President of AFC «System», Chairman of the Board of Directors of OJSC «ROSNO» Levan Vasadze; board member of Allianz AG Dr. Werner Zedelius, executive director for markets in Central and Eastern Europe, Allianz AG Dr. Klaus Junker; The Director-General of the Group of Companies ROSNO Leonid Melamed, deputy director general of ROSNO, the Chairman of the Board of Directors of SC «Alliance ROSNO Life» Hannes Chopra, President of SC «Alliance ROSNO LIFE» David Oren.
Leonid Melamed, Director General ROSNO, said: «According to many analysts, the market life insurance in Russia is extremely attractive for investment. However, these projections are not a long time to find a practical confirmation of the demand of buyers for this type of insurance. Our own studies show that with the growth of real incomes, the need of insurers to a quality product for life insurance is especially high. Therefore, based on more than 110 years of experience Allianz, holds leading positions in life insurance in the global marketplace, knowledge of Russian market and the ability to achieve success in the CIS countries, which demonstrates the AFC «System», we have established a specialized company with a dual-brand «Alliance ROSNO ». We hope to meet the growing demand of the population, while developing life insurance, not only in Moscow but also in the regions ».
Life Insurance Market in Russia, which is estimated about 100 million U.S. dollars, is still at an early stage of development. However, experts point to its enormous potential - the expected annual growth of more than 40% until 2010. Company «Alliance ROSNO Life» plans to win a significant share of the growing market.
Hannes S. Chopra, Chairman of the Board of Directors of «Alliance ROSNO Life» said: «Together with the« Alliance ROSNO Life »we are about to enter the Russian market for long-term life insurance. I am confident that our competitive products, the professional agents and high service standards will help achieve a leading position in the market ».
The priority of the new company is a long-term life insurance, and soon it will offer and pension insurance. Products will be sold primarily by professional agents, whose number will increase. Now the company operates 110 agents who have received specialized training. However, «Alliance ROSNO Life» will use a variety of sales channels: banks, brokers and agents ROSNO 4000. Financial statements will be conducted in accordance with international standards IAS, smart investment policy will ensure the financial security of insurers. «We consider it our duty to care about the financial future of our customers and look forward to the support of two strong brands and ROSNO Alliance», - said Hannes Chopra.
Source: OJSC «ROSNO»
