Raiffeisen Life Insurance Company has announced results for 2012, which was the most successful year in the company’s history.
Insurance premiums collected over the year rose by more than 160%, reaching 1.791 billion rubles. At the end of 2012, the customer portfolio included 168,000 clients, up more than 33% vs. 2011. The growing client base was the main driver of growth in the company’s key indicators.
Maxim Chumachenko, Raiffeisen Life CEO, commented: «The company has become a regular member of the TOP 10 insurance companies in Russia. Over 3.5 years of operation, Raiffeisen Life has captured 3.26% of the Russian life insurance market, which is a very good result for such a young company.»
Investment returns on voluntary combined life insurance policies reached 8.3% for ruble-denominated contracts, 4.3% for USD-denominated contracts, and 3.3% for euro-denominated contracts.
As the customer base grows, liabilities grow too: in 2012, the company made payments on more than 180 policies across all types of life insurance. In the common insurance company rating by the Insurance Today Internet portal, Raiffeisen Life was listed 26th in terms of payments.
Raiffeisen Life Insurance Company offers quality insurance services and continues to expand its product line, offering state-of-the-art solutions in the field of savings and financial protection.
ZAO Raiffeisenbank is a subsidiary of Raiffeisen Bank International AG. Raiffeisenbank ranks 12th among the Russian banks in terms of assets, based on 2012 results (Interfax-CEA). According to the same Interfax-CEA data, ZAO Raiffeisenbank ranked 5th in terms of liabilities of individuals and 10th with regard to consumer lending.
Raiffeisen Bank International AG (RBI) regards both Austria, where it is a leading corporate and investment bank, and Central and Eastern Europe (CEE) as its home market. In CEE, RBI operates an extensive network of subsidiary banks, leasing companies and a range of other specialised financial service providers in 17 markets. RBI is the only Austrian bank with a presence in both the world’s financial centres and in Asia, the group’s further geographical area of focus. In total, around 61,000 employees service about 14.1 million customers through around 3,100 business outlets, the great majority of which are located in CEE. Raiffeisen Bank International is a fully-consolidated subsidiary of Raiffeisen Zentralbank Oesterreich AG (RZB). RZB indirectly owns around 78.5 per cent of the common stock, the remainder is in free float. RBI’s shares are listed on the Vienna Stock Exchange. RZB is the central institution of the Austrian Raiffeisen Banking Group, the country’s largest banking group, and serves as the group head office of the entire RZB Group, including RBI.