ABOUT THE COMPANY
GEFEST Joint-Stock Insurance Company is a national insurance company, a brand name in the construction industry. For more than 16 years, our company has been successfully providing CAR insurance, predominantly in infrastructure development.
GEFEST was incorporated in Moscow on December 29, 1993 by major Russian construction and engineering companies in the area of transportation infrastructure (today, they are Mostootryad-19, Mostotrest, Bamtonnelstroy, etc.).
The 16 years of our operation have made a substantial contribution to financial security of nationally strategic infrastructure projects in Moscow, St Petersburg, and other 50 regions of Russia. In total, our company insured over 1,000 construction projects, with the aggregate insurance coverage in excess of RUB 500 bn.
We insured the construction and renovation of the MKAD (Moscow Ring Road), Third Ring Road with Lefortovo tunnels’ infrastructure, Zvenigorod highway with Serebryanoborsky tunnels and Zhivopisny cable truss bridge, and Manezh Central Exhibition Hall in Moscow; Ring Road, a system of flood protection facilities (embankment) and the Central State Historical Archive in St Petersburg, as well as dozens of other well-known sites.
Among our clients are major Russian construction and engineering enterprises,including Moskapstroy, Transstroy Corporation, Tsentrodorstroy, Mostotrest, Mostootryad19, Mosinzhstroy,Sibmost, Bamtonnelstroy,Organizator, Transmonolit, and Gidromost.
In addition, our company offers a wide range of traditional property insurance, motor insurance, medical and personal insurance services. We keep growing as a versatile insurance company, collaborating with enterprises in numerous industries.
Our branches operate in St Petersburg, Novosibirsk, and Kazan, as well as regional offices in Sochi, Krasnodar, Krasnoyarsk, Ulan-Ude, Vladivostok, Samara, Surgut, Rostov-na-Donu.
JSIC "GEFEST" combines with:
- The International Association of Engineering Insurers (IMIA)
- The All-Russia Union of Insurers
- The Association of Moscow Investors
- The Russian Union of Motor Transport Insurers
- The Association of Russian Federation Forwarding Agents
- The Russian Tunnel Association.
Our impeccable reputation is based on meticulous meeting our liabilities to clients. During these 16 years, the total payments of insurance compensation by GEFEST amounted to RUB 1 bn. In 2003, the company made the largest insurance compensation payment in CAR insurance history – RUB 106 m – to cover the loss incurred in Lefortovo tunnel’s construction.
GEFEST’s reinsurance system was created specifically to provide coverage for large construction projects. High reinsurance quality is a solid foundation for complete and efficient insurance compensation. Our reinsurance system is based on a unique obligatory contract for technical risk reinsurance with largest Russian and international reinsurers. The contractual limit of USD 100 m for each risk remains a record for the Russian CAR and EAR insurance market and is enough to provide efficient reinsurance coverage of a large construction project.
GEFEST’s reinsurance partners are still the leaders in the domestic and international reinsurance markets: Swiss Re Germany AG (Germany) – obligatory contract leader, SCOR (France), Munich Re Group (Germany), Metropolis, and others. Cooperation with these companies enables us to impose no limits on the types of insured projects and risks, as well as the amount of insurance compensation, which is usually provided for in obligatory contracts.
JSIC "GEFEST" has High reliability ratings:
Financial strength ratings of “BB-” (on the international scale) and “À+” (on the national scale) by Fitch Ratings.
Licenses: ¹ 1641 77 Ñ of 23.07.2009 and ¹ 1641 77 Ï of 23.07.2009 are given by the Ministry of Finance of the Russian Federation on the right of carrying out insurance activity. Registration number: 1641
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