Reinsurance

From the very beginning the Company has been giving a priority attention to the reinsurance of risks it had assumed.
Then the Reinsurance was implemented mainly through facultative reinsurance contracts, which were concluded with a number of
St. Petersburg insurance companies (Progress-Neva, ASK-Peterburg etc.).

But in the middle of 1990s the Company concluded that Russian reinsurance market was poorly reliable due to its relatively
thin capitalization and limited absorptive capacity, and headed for the cooperation with international reinsurance markets.
As a result a well-organized system of obligatory reinsurance contracts with the international companies has been created.
Moreover, the stress was laid on the collaboration with the world’s leading reinsurers, whose capacity has been confirmed by the
major rating agencies.

This reinsurance policy proved to be the only way to reduce excess risks, to enable a company to maintain financial solvency and
insure almost all risks in our market, at the same time warranting just-in-time indemnity.

Thus far Reinsurance Department of Joint-Stock GUIDEH Insurance Company set up special reinsurance programs with the
world’s leading reinsurers to protect all the business lines.
Major reinsurance partners of GUIDEH Insurance Company are:
- the global reinsurance group SCOR (France);
- Fortis Corporate (Belgium, Netherlands);
- GIC RE (India);
- Polish RE (Poland);
- Korean RE (Korea);
- GEN RE (Cologne Reinsurance Corporation).
Negotiations and contracting is arranged by the international brokers MAI (England).
GUIDEH’s propriety and “cargo” portfolios are protected by obligatory quota share reinsurance treaty with reinsurers
SCOR (France) and Fortis (Amlim) Corporate Insurance (Belgium, Netherlands).
Personal insurance portfolio (accident, credit health and package mortgage insurance) is protected by obligatory treaty with
reinsurer Moscow RE.

The other reinsurance techniques are also practiced: a part of propriety risks
(including watercraft and other non-obligatory risks) is reinsured on a facultative basis.