Sogaz opens in Serbia
- Francesca Nyman
- 09 May 2012
- Be the first to comment
Russian insurance firm Sogaz has opened its first foreign subsidiary in the Republic of Serbia.
The new company, Sogaz Novi Sad, is a joint venture between Sogaz and Serbian gas firm OJSC Serbiagas. Sogaz is supplying 51% of the capital, with the subsidiary's co-founder providing the other 49%.
Evgeniy Logovinskiy, deputy chairman of the Sogaz board, said: "The founding of Sogaz Serbia will enable us to realise all opportunities for insuring the risks of our corporate customers actively operating in the Republic of Serbia.
"We also believe that in the future the company will turn into a universal insurer that will be able to work with major enterprises and in mass market segments and to render a broad range of insurance services, as well as to compete successfully with leading insurance companies."
Sogaz made the decision to enter the Serbian insurance market in early 2010 and was granted a licence from the National Bank of Serbia in December 2011.
The authorised capital of Sogaz Novi Sad is €6m and the company plans to open a representative office in the capital city of Serbia, Belgrade.
The new firm intends to have a 3% share of the Serbian insurance market, excluding life insurance.
Latest news
You may also like
Latest white papers
What other people are reading
Updating your subscription status 
Video: Insurance claims in Asia - An interview with Rudolf Frei
What is the claims environment like in Asia? What are insurers doing to manage increasing claims costs and is there sufficient expertise in the market to handle future claims?
James Portelli
Middle East blog: Poacher turned game keeper
Francesca Nyman
Middle Eastern Promise
World Insurance Report 2013
Capgemini and Efma are pleased to present the sixth edition of the World Insurance Report (WIR). This report looks at the channel and other preferences of insurance customers by analysing data from Capgemini's Customer Experience Index (CEI).
Designing an international insurance programme
Designing a multinational insurance programme is a complex undertaking. However, the right strategy and tools help optimise performance and boost bottom-line results. This Aon Benfield article addresses the key challenges to overcome, including cultural issues, regulations, business process management and risk.
Lloyd's country profile: Singapore - September 2012
Country Profiles provides individual summaries for Lloyd's key territories. These profiles contain factsheets on the economy, insurance market and Lloyd's business. This analyst report from September 2012 focuses on Singapore.
Platinum partner
Insurance Insight is brought to you in association with Ernst & Young
Digital Publisher of the Year 2010
Visitor comments Add your comment