The NASTA insurance company has won a tender to provide comprehensivemortgage insurance to Raiffeisenbank Austria borrowers.
Major mortgage market operators attended the tender. The participantswere judged by the following criteria: their financial reliability,existence of a ramified branch network, relevant experience in realizinginsurance programs, insurance rates etc.
The project is to be implemented in Moscow, St. Petersburg and otherregions where Raiffeisenbank is present.
The victory in the tender for the right of participation in the pool ofinsurance companies providing comprehensive mortgage insurance to thecustomers of the Bank, has become another step in the development ofstrategic partnership for NASTA and Raiffeisenbank. The agreement onstrategic partnership was reached in the end of 2005.
By now NASTA offers insurance of cars of all models, purchased on creditthrough Raiffeisenbank in showrooms throughout Russia. Besides that,NASTA successfully cooperates with Raiffeisen Capital Managing Company,where the insurance company has placed over USD 2 mln in assets.
NASTA (full name LLC«NASTA» insurance company) was established in November 1993. It holds a license of the Federal Insurance Supervisory Authority Ñ No 1083 77 dated April 26, 2006. According to the license, NASTA has the right to realize 19 types of insurance on the basis of 65 insurancerules. NASTA provides a comprehensive range of insurance services both to organizations and private individuals. Besides that, the company holds a license of the Federal Insurance Supervisory Authority Ï No 1083 77 dated April 26, 2006, giving it the right to perform reinsurance activity.
NASTA has a paid authorized capital stock of RUR 1,06 bln, over the last5 years its financial performance is indicative of stable businessgrowth. According to the results of the first six months of 2006, thegrowth of collection of insurance premiums was 58 % in comparison withthe first six months of 2005, and reached RUR 3,014 bln. Insurancepayments in the above-mentioned period have grown up to RUR 1,116 bln.
NASTA has a ramified branch network consisting of 65 branches and over300 offices throughout Russia, which allows the company to give itsclients equal opportunities for buying all services of the company,regardless of the region they live or work in.
LLC«NASTA Insurance company has an «A+» reliability rating, given to the company by Expert RA rating agency in the beginning of 2006. According to the results of 2005, the company is included in the «Top-10» of the biggest motor and OSAGO (Compulsory civil liability motor-vehicle insurance) insurers (according to the data of «Expert RA» and «RBK Rating» rating agencies).
CJSC«Raiffeisenbank Austria» is the eighth largest bank in Russia in terms of assets as of the first quarter of 2006 (EAC «Interfax»). The Bank has 19 outlets in Moscow, 5 in St. Petersburg, and regional branches in Ekaterinburg, Samara, Novosibirsk, Chelyabinsk, Nizhny Novgorod and Krasnodar. Raiffeisenbank is ranked 6th among the leading retail Russian banks in terms of volume of private loans, and 7th in terms of volume of private deposits, according to the data based on the results of the 2nd quarter of 2006 («Interfax» Economic AnalysisCentre). Raiffeisenbank is ranked 9th in terms of corporate credit portfolio, according to the data based on the results of the 2nd quarter of 2006.
CJSC«Raiffeisenbank Austria» is an affiliate of Raiffeisen International Bank-Holding AG (Raiffeisen International), a holding company, controlling subsidiary banks and leasing companies in 16 markets in Central and Eastern Europe. The Bank serves 11 million clients at morethan 2700 business outlets. Raiffeisen International is a fully consolidated subsidiary company of Raiffeisen Zentralbank Austria AG (RZB), which owns 70 % of the common stock. The remaining 30 % is free float; the shares are traded on the Vienna Stock Exchange. RZB is the central institution of the Raiffeisen Banking Group, the principal corporate and investment bank, and the leading bank in Austria, as well as in Central and Eastern Europe.