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ZAO Raiffeisenbank to Offer Clients New Life Insurance Solutions in Cooperation with Raiffeisen Life Insurance Company LLC

ZAO Raiffeisenbank is offering clients new life insurance services developed together with Raiffeisen Life Insurance Company  a subsidiary of UNIQA Group Austria.

The new insurance programmes for private clients include life insurance for the banks loan and credit card holders, as well as special saving programmes.

The life insurance programmes for Raiffeisenbanks loan and cardholders give clients protection against the inability to pay back the loan or outstanding credit card account in unforeseen circumstances. Clients can sign up for these programmes in any Raiffeisenbank branch.

The Raiffeisen Perspective and Raiffeisen Kinder savings programmes provide financial protection and the opportunity to create savings. Clients participating in the programme can accumulate savings by a certain date in order to realise their personal financial plans or plans for their children, such as paying for a the childs education, even overseas. Today, the saving programmes are available in Moscow, St. Petersburg, Voronezh, Samara, Nizhniy Novgorod, Krasnodar, Ekaterinburg, Novosibirsk, and Khabarovsk.

As Maxim Chumachenko, CEO of Raiffeisen Life Insurance Company, said, Recently, interest in life insurance has been growing in Russia: now that people have attained success and a stable life in the present, they start to think about financial security, and about creating savings that will allow them to securely fulfil their long-term financial plans. Life insurance products can offer a package solution to these tasks.

These products were not chosen randomly: in combination with previously existing products from the bank and its network companies, these solutions will allow clients to ensure financial security and well-being for themselves and their loved ones or quality education for their children, noted Pavel Gurin, CEO of ZAO Raiffeisenbank.

Raiffeisenbank has had a long and successful partnership with the UNIQA Group Austria, the founder of Raiffeisen Life Insurance Company LLC, in Austria and in 13 Central and Eastern European countries. This experience, which benefits both partners as well as bank clients, will now be transferred to the Russian market, along with high service and product standards.

Raiffeisen Life Insurance Company was registered in Moscow, January 23rd, 2009 with authorized capital of 60 million RUR. The company obtained the license for insurance business in July and currently employs 31 people.

UNIQA Group is the leading insurance Group in Central- and Eastern Europe. Groups accumulated premium amounts to 5.8 billion EUR, where 38% come outside the home market Austria. The whole group has around 19.000 employees and exclusive partners who serve 7 million clients holding 15 million insurance contracts. About 40 insurance companies in 20 countries form UNIQA Group Austria. For many years UNIQA has been rated A by Standard & Poors rating agency.

ZAO Raiffeisenbank is a subsidiary of Raiffeisen International Bank-Holding AG. Raiffeisenbank is ranking 9th in terms of assets among the Russian banks based on 1H 2009 results (Interfax-CEA). According to Interfax-CEA, ZAO Raiffeisenbank ranked 4th in Russia in terms of private deposits and 6th in consumer lending in Russia based on 1H 2009 results.

Raiffeisen International operates one of the largest banking networks in CEE, covering 17 markets across the region through subsidiary banks, leasing companies and a range of other financial service providers. The group's nearly 60,000 employees service around 15 million customers via more than 3,100 business outlets. Raiffeisen International is a fully-consolidated subsidiary of Raiffeisen Zentralbank Osterreich AG (RZB), which owns about 70 per cent of the common stock. The remainder is in free float, with the shares listed on the Vienna Stock Exchange. RZB is a leading corporate and investment bank in Austria and the central institution of the Austrian Raiffeisen Banking Group, the country's largest banking group.


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