Sogaz Company Profile and Market Presence

Sogaz is a leading insurance company in Azerbaijan, founded in 1994. It's been over 25 years since Sogaz started its journey.

Sogaz is a subsidiary of the state-owned Azerbaijan Investment Holding, which has a significant stake in the company. This highlights the strong government backing that Sogaz has received over the years.

The company has a strong presence in the Azerbaijani market, with a wide range of insurance products and services offered to individuals and businesses. Sogaz has been able to establish itself as a reliable and trustworthy brand in the market.

Sogaz has a large network of agents and partners across the country, making it easily accessible to customers. This extensive network has played a crucial role in the company's success and growth.

Sogaz is a large and complex insurance company with a diverse range of subsidiaries and affiliates.

At the heart of Sogaz is its parent company, AO "Sogaz", which is a universal insurance company with registration number 1208.

Sogaz also has a dedicated life insurance company, OOO SK "Sogaz-zhizn", with registration number 3825.

In addition to these core companies, Sogaz has a number of other subsidiaries, including AO SK "Sogaz-med" (formerly OAO "Gazprommestrah"), which provides mandatory medical insurance.

Here's a breakdown of some of the key companies within the Sogaz group:

These companies work together to provide a wide range of insurance and medical services to clients.

Sogaz Insurance Company has consistently demonstrated strong financial performance, with a paid-up capital of 10.8 billion Azerbaijani manats.

The company's net profit has increased steadily over the years, reaching 1.3 billion manats in 2020.

Sogaz's financial stability is reflected in its high credit rating, with a score of 3.1 out of 5.

The company's assets have grown significantly, reaching 24.4 billion manats in 2020.

Sogaz's financial performance is a testament to its efficient management and strategic decision-making.

The company's net worth has also increased, reaching 4.2 billion manats in 2020.

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Sogaz's business operations are centered around providing comprehensive insurance solutions to its clients. The company's focus on innovation and customer satisfaction has enabled it to establish a strong presence in the insurance market.

Sogaz has a wide network of agents and brokers across the country, allowing it to reach a large customer base. Its agents are highly trained and equipped to provide expert advice and guidance to clients.

Sogaz's commitment to customer satisfaction is evident in its customer-centric approach, which prioritizes the needs and concerns of its clients.

"Sogaz" is a licensed insurance company, holding several licenses from the Central Bank of Russia, including OS #1208-02, OS #1208-03, and PS #1208.

The company is a member of several professional associations, such as the All-Russian Union of Insurers and the Russian Union of Automobile Insurers.

"Sogaz" has a significant presence in the insurance market, with a total of 387 billion rubles in insurance premiums for 2020.

The company's insurance premiums for 2020 were broken down into several categories, including 95 billion rubles for accident insurance, 79 billion rubles for property insurance, and 76 billion rubles for life insurance.

"Sogaz" reported a total of 134 billion rubles in insurance payouts for 2020, with a net profit of 300 billion rubles.

The company's investment activities generated 50 billion rubles in revenue for 2020.

As of the end of 2020, "Sogaz" had total assets of 1.01 trillion rubles, with 222 billion rubles in deposits and 316 billion rubles in debt securities.

СOGAZ проводит последовательную и активную политику на покупку привлекательных страховых активов. Объектами таких покупок всегда становятся кэптивные страховые компании и компании, занимающиеся корпоративным страхованием.

Например, в 2005 году SOGAZ приобрел страховую компанию Нефтеполис, которая ранее принадлежала Роснефти. В 2009 году SOGAZ приобрел страховую компанию Шексна, которая входила в группу Северсталь.

СOGAZ также покупает иные, непрофильные активы. Например, в 2021 году была куплена косвенная доля в медийной интернет-компании VK, ранее принадлежавшая USM холдингу.

Список приобретенных компаний:

The insurance group "Sogaz" has a significant presence in the Russian market, with a wide range of insurance products and services.

The company's insurance licenses, issued by the Central Bank of Russia, include OS #1208-02, OS #1208-03, OS #1208-04, OS #1208-05, SL #1208, SI #1208, and PS #1208.

"Sogaz" is a member of several professional associations, including the All-Russian Insurance Association, the Russian Union of Automobile Insurers, and the National Union of Liability Insurers.

In 2020, the company's insurance premiums totaled 387 billion rubles, with 95 billion rubles allocated for accident insurance, 79 billion rubles for property insurance, and 76 billion rubles for life insurance.

The company's investment activities generated 50 billion rubles in revenue, while its assets at the end of the year stood at 1.01 trillion rubles.

Here are some of the notable acquisitions made by the "Sogaz" group:

Med is a crucial aspect of business operations, and in the case of "Согаз-Мед", it's a specialized medical insurance company.

The company was founded in 1998 as a subsidiary of Gazprom, initially known as Gazprommestrah. It later became part of the Sogaz group in 2003.

Согаз-Мед's primary focus is on mandatory medical insurance, which is a significant part of their operations.

In 2012, the company's funding from territorial funds for medical services reached 65.4 billion rubles, a 22% increase from the previous year.

Here's a breakdown of the company's performance in 2012:

Согаз-Мед's rating from Expert RA was A++ in 2012, with a stable outlook.

Sogaz has faced significant regulatory challenges due to its involvement in the construction of a bridge in Crimea.

The company was hit with international sanctions by the European Union for insuring the construction of the bridge, which was seen as supporting Russia's annexation of Crimea.

Sogaz's financial activities have been severely restricted as a result, with its accounts frozen in the UK and residents of the country prohibited from conducting business with the company.

The company has also been added to Canada's sanctions list for its role in supporting Russia's unprovoked invasion of Ukraine.

Sogaz has been included in the US Treasury's blocklist for its involvement in insuring Russian military personnel and employees of sanctioned defense companies.

Similar sanctions have been imposed by Switzerland, New Zealand, Ukraine, and Australia due to Sogaz's role in supporting Russia's actions in Ukraine.

As of November 2019, Sogaz's board of directors includes notable figures such as Alexey Miller, the chairman of the board of directors of PAO Gazprom, and Yuri Solovyev, the first deputy president and chairman of the board of directors of PAO VTB.

The company's ownership structure is diverse, with several major shareholders. According to data released by Sogaz in January 2020, the top shareholders include OOO Akvilla, which holds 32.30% of the company, followed by AO SG-Invest, which holds 16.54%.

Here's a breakdown of the company's top shareholders:

As an investor, it's essential to know who's behind the company's leadership and ownership. Let's take a look at the current state of Gazprom's management and ownership structure.

The chairman of the board of directors is Alexey Miller, who also serves as the chairman of the board of directors at PAO Gazprom.

The board of directors includes several high-profile individuals, including Yuri Solyugin, the first deputy president and chairman of the board of directors at PAO VTB.

Here's a breakdown of the ownership structure as of January 2020:

The chairman of the board of management is Anton Ustinov, who also serves as the chairman of the board of directors at AO Sogaz.

SOGAZ has received several ratings from reputable rating agencies, demonstrating its financial stability and credibility.

The company was assigned a long-term credit rating of "BBB+" in Russian and foreign currency with a "stable" outlook by Dagong Chinese Rating Agency.

A.M. Best has affirmed SOGAZ's Financial Strength Rating of "B++" (Good) and the Long-Term Issuer Credit Rating of "bbb" with a stable outlook.

SOGAZ first received a long-term insurer financial strength and issuer credit ratings from Standard & Poor's in 2008. The ratings have gradually grown, and in 2018, the agency assigned a rating of "BBB" with a "stable" outlook.

The Expert RA rating agency assigned SOGAZ the highest "A++" rating in July 2003, which has never been reduced and was replaced with the "ruAAA" rating in July 2017.

The company's ratings have been consistently confirmed by rating agencies, with some agencies confirming their ratings annually.

Insurance funding investors are a crucial part of the investment landscape, particularly for startups and small businesses.

They provide critical funding to help businesses grow and expand their operations. One notable example is the insurance company, Zurich Insurance Group, which has invested in various startups through its venture capital arm.

Insurance funding investors typically look for businesses with high growth potential and a strong value proposition. They also often require a significant equity stake in exchange for their investment.