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what is Eurasia Insurance Co?

Eurasia Insurance Co.

Eurasia Insurance Co. is a Kazakhstan-based insurance underwriter, established in 1995 and headquartered in Almaty. As a results of 2013 continent, Kazakhstan’s largest insurance underwriter maintained its position as 1st in terms of assets, insurance reserves, equity and licensed capital, additionally because the volume of insurance premiums

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Eurasia Insurance Co.

Industry Financial services
Founded 1995
Headquarters Zheltoksan str., 59, 050004, Kazakhstan:Almaty

Key people
Boris Umanov (Chairman andCEO)
Products compulsory and voluntary insurance categories, reinsurance
Total assets KZT83.6bn (as of one Jan 2014)
Website www.theeurasia.kz/en/

Eurasia Insurance Co. is a Kazakhstan-based insurance underwriter, established in 1995 and headquartered in Almaty. As a results of 2013 continent, Kazakhstan’s largest insurance underwriter maintained its position as 1st in terms of assets, insurance reserves, equity and licensed capital, additionally because the volume of insurance premiums.

Senior management

Activity and operations
Ratings
International and national memberships
Major events
Senior management

Chairman of the Management Board – Boris Umanov. Members of the Board – Larissa Slabkevich, Nazym Tulchinsky, Rolan Sakenov, Samat Kabdolov, Tulbaev Nurmukhamed, Rauza Davletbaeva.

Activity and operation

Eurasia Insurance Co. is authorized to embrace all form of covers beneath required and voluntary insurance categories in accordance with the legislation of the Republic of Asian nation.

The premium financial gain of continent in 2013 amounted to KZT27.238bn, claim payments destroyed to KZT12.057bn, with preserved earnings of KZT4.016bn.

As a part of its overall business strategy for growth within the future, continent Insurance Co. places stress on the geographic diversification of risks and developing partnerships with corporations round the world to realize an honest unfold of premium financial gain and to strike the proper balance between exposure. nowadays continent has developed its inward insurance portfolio to the extent that it presently reinsures risks placed over one hundred fifty countries worldwide. As at one Jan 2013 continent underwrote for forty ninth of the entire insurance placements in Asian nation insurance market, and regarding ninety seven of the entire insurance placements from abroad.

In 2008, continent reached new heights by being appointed as associate approved reinsurer for the Ariane house Programme. In reference to this category of insurance, continent has paid the subsequent claims:

On eighteen August 2011 continent paid KZT747m as a insurance compensation for the loss of Express-AM4 spacecraft. Ekspress-AM4 ballistic capsule was launched by Proton-M carrier rocket from Baikonur Cosmodrome spaceport in August 2011, however it had been placed in hit or miss orbit.

On fifteen Jan 2012, the corporate paid US$3.4m in respect of the loss of the Russian spacecraft Phobos-Grunt. The ballistic capsule burned up within the dense layers of the atmosphere, its unburned fragments fell into the Pacific Ocean. Property interest of Federal State Unitary Enterprise “Center for the operation of ground-based house infrastructure” is reinsured by continent, that at intervals its share of the response created a claim payment of regarding KZT500m

Eurasia has paid KZT1.5bn (US$10m) in respect of total loss of the telecommunication house satellite Telcom-3 owned by PT Telekomunikasi Republic of Indonesia. In August 2012 rocket Proton-M with the higher stage Briz-M and the ballistic capsule – Indonesian Telcom-3 was launched from the Baikonur Cosmodrome, however the boosters needed to position it in its final orbit malfunctioned because of defects leading to the satellite being placed in hit or miss orbit. The satellite was designed to produce phone company communications and therefore the broadcasting in Republic of Indonesia and peninsula.

Ratings

On fourteen March 2014, rating agency A.M. Best Affirmed its “bbb+” monetary strength rating and “B++” credit rating for continent Insurance Co. The outlook for each ratings is stable. This credit rating is that the highest among insurance and insurance corporations in CIS countries and Central Asia.

On twenty seven could 2014, normal & Poor’s Ratings Services Affirmed its “BB+” {insurer|insurance company|insurance firm|insurance underwriter|underwriter|nondepository monetary institution} financial strength and counterparty credit ratings.

International and national memberships

Eurasia may be a member of the subsequent organizations:

The International Underwriting Association (IUA), the foremost powerful non-governmental organization within the international insurance business (London, UK)
The International Insurance Society (New dynasty town, United States)
The Federation of Afro-Asian Insurers and Reinsurers (Turkey, Bahrain, Morocco)
The International Union of Marine Insurance (Zurich, Switzerland)
The monetary Institutions’ Association of Kazakhstan
Major events

In Gregorian calendar month 2004, for the implementation and therefore the development of the youth policy and therefore the state insurance program, not solely in Asian nation however additionally in CIS countries, continent insurance underwriter organized the Annual International Scientific and sensible competition for the simplest add the sphere of insurance “Just One Step from plan to Implementation” The main purpose of the competition is to market the insurance business, to inspire the simplest business concepts and therefore the seek for the potential employees among talented students from at intervals the Republic of Asian nation and therefore the CIS countries.

From 2005, continent insurance underwriter may be a permanent organizer of the Annual International Risk Management Conference,a spring event that is control in Almaty. Over the past years the conference has attracted such powerful speakers as Andrei Illarionov – former economic consultant to President of the Russia WHO is currently a senior fellow at the Cato Institute, the late Yegor Gaidar – former acting Prime Minister and Director of the “Institute for the Economy in Transition”, Nouriel Roubini – economic consultant of President Obama; David Waldron – proverbial London professional, WHO serves on the issues of corruption and bribery; Ruslan Grinberg – Director of political economy Institute of RAS; Tali Sharot – the top of the acclaimed scientific research The Optimism bias, Marcos Prado Troyjo – director of centre BRICLab at Columbia University, additionally as representatives of state agencies of the Republic of Asian nation, the leaders of the most important international rating agencies, together with common international economists. The moderator of those Conferences is that the leading TV journalist – Igor Vittel.

International Risk Management Conference

In Gregorian calendar month 2006, the radio program Two Lives when, a part of a world cooperative media project, made by Evgeny Bychkov and continent insurance underwriter, took to the airwaves. The author of the programs is Evgeny Bychkov – associate Almaty native, skilled musician, musical critic, and radio-journalist, WHO presently resides and works in provincial capital, Canada. In 2007 the program was recognized by connoisseurs of music and was awarded Popov’s International Prize within the class “Best Music Radio Program” in Russia.

In could 2009 continent Insurance Co. participated in the Cannes International Film Festival not solely as a guest however as associate underwriter additionally. the planet film and sports stars and alternative celebrities, including Mark Webber, Sir Steve Redgrave, mount Affleck, Matt Damon, Henry M. Robert Downey son., Gwyneth Paltrow, President of Hugo Boss Fashions – Roberto Ilich Sanchez, et al were among the guests.

In Gregorian calendar month 2009 continent Insurance Co. and Oakeshott broker revealed a two-volume assortment of insurance, insurance, and risk management papers, beneath the title, Let’s speak with you.[5]

In could 2010 continent launched a brand new radio series The ninth land, on the key personalities within the history of rock with problems well of the life and works of such artists as John Lennon, Paul Simon, Janis Joplin, Jimi guitar player, the bands The Doors, Procol Harum, The Hollies and others.

On fourteen December 2010 continent {insurance company|insurance firm|insurer|insurance underwriter|underwriter|nondepository monetary institution} organized the Annual festival in Asian nation CinemaFest “StrahOFF!” as a part of its efforts to enhance the financial acquisition of the voters. The festival is dedicated to the fascinating clarification of the character and characteristics of insurance and risk management through the film.

On eighteen Gregorian calendar month 2011, Dr. Umanov gave a lecture on the subject of “Kazakhstan and Central Asian insurance/reinsurance market” within the previous Library of the New Lloyd’s of London Building. The Insurance Institute of London requested Dr. Umanov to offer a lecture for the members of Lloyd’s and alternative participants within the international insurance market. over one hundred fifty persons attended the lecture, together with senior managers from Lloyd’s syndicates, international insurance/reinsurance corporations, brokers, major international rating agencies, and others, this being the most important group action of such an occurrence there.

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