Yugoria Insurance Company’s net loss nears 3bn RUR in 2012
7 May 2013 (09:25)
May 7, 2013. The net loss of the state-run Yugoria Insurance Company rose by over 9 times in 2012 and amounted to 2,803bn RUR, the insurer’s accounting report (drawn up in accordance with the Russian Accounting Standards) states. The total amount of accumulated insurance premiums shrank by 5% down to 8.685m RUR, while insurance payments increased by 7% and exceeded 5.8bn RUR, Insurance, a web portal, says.
Thus the negative result from the insurance transactions amounted to 1.805bn RUR in 2012 against +979bn RUR a year earlier.
In 2012, the Government of Khanty-Mansiysky Autonomous District, Yugoria’s only owner, was planning to have the company privatized, but in September 2012 the insurer was taken off that year’s privatization list.
‘At the moment, the joint stock company’s assets are being put together, capitalization is in process, as is determining the nature of property. The company will supposedly go private in 2014-2016,’a note on the accounting report says.
Thus the negative result from the insurance transactions amounted to 1.805bn RUR in 2012 against +979bn RUR a year earlier.
In 2012, the Government of Khanty-Mansiysky Autonomous District, Yugoria’s only owner, was planning to have the company privatized, but in September 2012 the insurer was taken off that year’s privatization list.
‘At the moment, the joint stock company’s assets are being put together, capitalization is in process, as is determining the nature of property. The company will supposedly go private in 2014-2016,’a note on the accounting report says.
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