PPF Life Insurance Russia
PPF Life Insurance LLC was founded in 2002 (previously it operated under the brands of Generali PPF in Russia and Czech Insurance Company).
PPF Life Insurance LLC is one of the leaders on the Russian insurance market specialized in life insurance and in accident and health insurance. According to 2016 results, PPF Life Insurance ranked 14 in the general ranking of all life insurance companies in Russia (by volume of gross written premiums).
Over a number of years the Company has been successfully upholding its high financial stability according to RAEX agency. To secure the insurance portfolio PPF Life Insurance is collaborating with the SCOR Group, a major global reinsurer with a credit rating of AA- assigned by Standard & Poor’s and Fitch.
PPF INSURANCE TIMELINE
In 2002 PPF Group has expanded into Russia's market, beginning to develop the services of insurance and consumer lending; the Group's insurance asset entered the market under the brand of Czech Insurance Company (Ceska pojistovna - one of the oldest insurers in Europe). In 2008 the process of restructuring Czech Insurance Company was completed. That resulted in better quality of customer service, a larger share of the Czech insurance market, and successful expansion into the Russia market.
The transformation was so successful that it attracted the attention of Assicurazioni Generali S.p.A. (“Generali”) – one of the Europe's largest insurers. The result was the establishment of Generali PPF Holding – a Generali and PPF Group joint venture where Czech Insurance Company is a key asset. In 2008 Czech Insurance Company, including its Russian branch, joined the new entity, Generali PPF Holding. The entity brought together insurers operating in Central and Eastern Europe, Russia and other CIS countries. The holding company was owned by Assicurazioni Generali, an international insurer, and PPF Group.
In 2013, Generali and PPF Group reached an agreement on reallocation of interests in a joint venture, Generali PPF Holding, which controls the insurance assets in the countries of Central and Eastern Europe, including Russia and CIS countries. The deal includes two stages: before 28 March 2013, acquiring of 25% in Generali PPF Holding by Generali, with the remaining 24% to be purchased by the end of 2014. Under the terms of the agreement Russian insurance assets have become a part of PPF Group.
In 2015, PPF Life Insurance opened 80 agency.
In 2015 according to the Central Bank data, PPF Life Insurance ranks 10th on the Russian market among life insurers.
In 2016 the Ministry of Finance has awarded PPF Life Insurance for active participation in the II Russian week of financial literacy for children and youth. In 2016, our employees spent more than 200 events across Russia and taught financial literacy for 7914 people.
In 2017 PPF Life Insurance is celebrating its 15th anniversary.