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Raiffeisen Life reports 2011 results

Insurance company Raiffeisen Life has announced its results for 2011. Investment earnings on voluntary mixed life insurance policies was 9% for policies denominated in RUR, 4.5% for policies in USD, and 3.5% for policies in EUR.

In 2011, Raiffeisen Lifes client base increased by more than 50,000 clients and, as at 31 December 2011, stood at roughly 125,000. The volume of insurance premiums charged by  Raiffeisen Life for the same period rose by nearly 150% to RUR 1,094,793,800, while the volume of payments was RUR 13,892,545.

Raiffeisen Life began operating in June 2009, and in less than three years has evolved from a new player on the market into a fully-fledged, dynamically developing life insurance company, whose efficiency and business processes level approaches the best Russian and international standards. The company has quickly managed to achieve substantial results and become a Russian life insurance market leader, rising from 53rd place in 2009 to 10th place in 2011 (according to official data from the Federal Insurance Supervision Service).

OOO Raiffeisen Life CEO Maxim Chumachenko noted: The company not only demonstrated good sales results, taking a 3.1% share of the Russian life insurance market in just 2.5 years, but also managed to achieve high investment profitability for its clients.

Raiffeisen Life strives to satisfy, fully and with the highest possible quality, its clients needs in the area of long-term accumulation and financial protection and continues to improve its services. The company demonstrates consistently high sales growth and continuously develops its product line, offering clients the most up-to-date and effective solutions in the area of accumulation and financial protection.

ZAO Raiffeisenbank is a subsidiary of Raiffeisen Bank International AG. Raiffeisenbank ranks 10th among the Russian banks in terms of assets, based on Q1 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 worlds financial centres and in Asia, the groups further geographical area of focus. Around 59,000 employees service about 13.8 million customers through around 2,900 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. RBIs shares are listed on the Vienna Stock Exchange. RZB is the central institution of the Austrian Raiffeisen Banking Group, the countrys largest banking group, and serves as the group head office of the entire RZB Group, including RBI.


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