VSK Insurance House was established in 1992 as a universal insurance company offering services to retail and corporate clients acrossRussia. The company has consistently ranked among Top 10 insurance players by gross written premiums leading the way in such key segments as motor insurance and voluntary health insurance (VHI). VSK provides insurance coverage for over15 mretail clients and more than 230,000 corporate customers fromRussia. The company’s regional distribution network counts over 400 offices in all Russian regions, which enables VSK to effectively support insurance contracts across the country.

VSK aims to become a company of national importance and scale that will changeRussia’s attitude towards insurance by proving that it can be based on partnership and trust.

49% owned by SAFMAR Financial investments

Company management: Sergey Tsikalyuk (Chairman of the Board of Directors)

Oleg Ovsyanitsky (Chief Executive Officer, Chairman of the Management Board)

> 25 years in the insurance market

RUB 53+bn of gross written premiums in 2016

15+ million people and 230,000 corporate customers in Russia insured by VSK

> 100 advanced insurance services

> 5,000 employees

In 2016, the company demonstrated solid operating performance, with the combined loss ratio below 100% and return on equity 29.3%.

Financial results

Going forward, VSK will seek to:

  • become a Top 5 insurer by gross written premiums until 2020;
  • develop a robust governance framework and enhance the management team’s forecasting and decision-making competencies;
  • create an efficient framework to manage changes and roll out innovations;
  • transform the existing operational model and organisational structure to cut costs and optimise use of the company’s resources; and
  • create a universal insurance group offering its clients the full range of insurance services.