home » Accounts » A story of failed love. Reso and VSK. The story of failed love How to compare companies and whether they can be changed

A story of failed love. Reso and VSK. The story of failed love How to compare companies and whether they can be changed

Most banks require insurance of their interests when granting a mortgage and therefore oblige borrowers to provide mortgage insurance, while some banks assume that only insurance from their partners is legitimate, while others remain quite democratic and leave the choice to the insured.

Traditionally, the first places in the list of the most popular, reliable and convenient conditions are occupied by:

Rosgosstrakh – up to 25% of all transactions in the segment.
Ingosstrakh - from 10 to 15%.
Alliance and RESO - from 5 to 10%.

Sogaz and VSK also provide favorable conditions for mortgage insurance.

Mortgage insurance rates have the following categories of dependencies and, the percentages in which banks form on the basis of the wishes of partner banks and the principles of their own policy:

age - the older the client, the higher the percentage determined by the tariffication of the amount of insurance payments;
the total amount of the mortgage - the larger the loan, the larger the amount and at a higher rate it will be offered to be insured;
state of health - often a client may be asked or obligated (at the request of the bank) to undergo a medical examination and charge for the state of his health.

IMPORTANT: the amount of insurance for a mortgage loan is determined based on its total volume and, naturally, payments for insurance decrease with a decrease in the loan amount, and interest rates may also decrease.

How do bank-required guarantees shape tariffs?

Comprehensive mortgage lending for the largest players can range from 0.7 to 1.6% of the total loan amount. Each company has its own principle of setting tariffs and taking into account influencing factors, in most cases, the opinion of the partner bank and the term of the mortgage are taken into account separately.

Insurers include in comprehensive insurance the following items of guarantees required by banks:

The risk of loss of property (object of collateral), its damage or shortage (real estate insurance by design), including:

accidents - flooding, fires, explosions, etc.;
damage from the impact of natural disasters;
harm from illegal actions from third parties (theft, burglary, damage, destruction of property, etc.).

Risks to the life and health of the insured - personal insurance.

Risks in relation to encumbrances on collateral or loss by the insured of the right to it (for example, when the transaction is recognized as void) - title insurance.

IMPORTANT: most banks conclude an agreement on comprehensive mortgage insurance or individual insurance items for a year, however, there may be offers for months.

Payment, in any case, is made at a time when registering the contract, the average amount can be from 15 to 55 thousand rubles.

Rosgosstrakh

The amount of the premium depends on:

Legal cleanliness is also taken into account in relation to transactions for the acquisition of real estate in a mortgage.

The base rate (as a percentage of the loan amount per year) is as follows:

for personal insurance for men - from 0.1 to 0.8%;
for women's personal insurance - from 0.07 to 5.6%;
real estate insurance for residential and non-residential premises - from 0.12 to 0.15%;
for residential / non-residential buildings - from 0.25 to 0.65%;
on land - from 0.08 to 0.1%;
title insurance - land: 0.2-0.35%; residential / non-residential buildings: 0.2-0.35%; residential / non-residential premises: 0.15-0.2.

In total, in total, the minimum leaves the apartment of a man - 0.44, the maximum - 1.15. The calculation is always carried out individually with the connection of additional factors increasing and decreasing the amount.

RESO

Rates:

In total - 1.8% per year from the loan amount. At the same time, RESO indicates that the insurer has the possibility of applying decreasing and increasing coefficients in relation to the tariffication of the sum insured, if there are grounds for this.

The increase is from 1.01 to 20 percent.
The decrease is from 0.01 to 0.99 percent.

Sogaz

The sum insured in Sogaz depends on the requirements put forward by banks within the framework of the loan program, calculated from:

Billing:

for accidents and illnesses - from 0.17 percent;
for property insurance - from 0.12 percent;
for title insurance - from 0.08 percent.

In total - from 0.37%.

VSK

VSK offers for review the most detailed table of tariffs for mortgage insurance, where there are separate groups of positions for different categories (the most extensive is for life insurance).

The averages look like this:

apartments, houses and cottages, depending on the type of market and the number of previous sales transactions - from 0.13% for the primary market to 0.25% for four or more real estate transactions;
for buildings and non-residential premises - from 0.15 to 0.25%;
for land - from three transactions 0.25, more than four transactions 0.30%.

For constructive insurance:

constructive elements of apartments - from 0.15 to 0.35%, depending on the quality of the finish (the better - the higher);
structural elements of buildings with reinforced concrete floors - from 0.4 to 0.8%, including finishing;
buildings with wooden floors - from 0.5 to 0.7%, including finishing;
land - from 0.1%.

For life and health insurance - a comprehensive tariff depending on age from 0.15 to 5.67% (for expensive insurance options and insurers of age limits over 75 years).

On average for an apartment - from 0.78 to 6.27.

At the same time, VSK reserves the right to a situational increase from 1.1% to 5% and a decrease from 0.9 to 0.1.

Ingosstrakh

Ingosstrakh does not provide full documentation of its tariffs in the public domain. But it makes it possible to consult on an individual tariff through an online form.

It is possible to calculate the insurance of the constructive property - it will be approximately from 0.15 to 0.25% according to the calculator. The amount of the loan balance, type of property, bank and other factors are taken into account.

The average rate for comprehensive mortgage insurance Ingosstrakh ranges from 1.2 to 1.5%.

How to compare companies and is it possible to change them?

The most successful interest rate for title insurance is Sogaz, the minimum rate of which is at around 0.08 percent.

The most convenient conditions for insuring a real estate construct, if calculated by apartment, are provided by Rosgosstrakh - from 0.12% (a similar rate, however, is offered by Sogaz).

The best option for life and health insurance is given by an extensive VSK tariffication table - from 0.03 percent for young women.

IMPORTANT: when choosing an insurance company to secure your mortgage, it makes sense to consider not only average tariff indicators, but also the history of payments and financial indicators of the company, the consent of the bank to cooperate with a particular insurer, the availability of provisions on the possibility of changing the tariff rate, etc.

In addition, it is worth considering the benefits:

In the complex, Sogaz offers the cheapest options for mortgage insurance, but this company is not the most successful and well-deserved on the market, it operates less than, for example, Rosgosstrakh or RESO, and does not have a very extensive set of partner banks. Nevertheless, Sogaz has earned the trust of a fairly large number of policyholders and occupies a significant place in the mortgage insurance segment (up to 3%).

The contract with the insured on the mortgage is concluded for one year, it can be terminated ahead of schedule, but in such circumstances, most companies imply the existence of penalties. For the new insurance year, there is always the possibility to change the insurer if there is the consent of the bank or if there are no obstacles on the part of the financial institution providing the loan.

On average, you will have to pay from 15 to 35 thousand rubles a year for mortgage insurance at a time, insurance services can be taken in a complex (title, real estate, liability) or in parts, which in some companies can provide more convenience in terms of tariff and interest rate .

Insurance company "RESO-Garantiya" was founded in 1991. The main beneficiaries of the company are brothers Sergei and Nikolai Sarkisov. Together with the president of the RESO group Andrey Savelyev, they control 62.9% of the shares. Within this block of shares, 95.6% is the share of the brothers, 4.4% is the property of Andrey Savelyev. 36.7% of the shares of the insurer belong to the French group AXA. In 2012, the company ranked 4th in terms of fees among all Russian insurers, receiving 51.8 billion rubles. Payments amounted to 28.3 billion rubles. The company's net profit for 2012 according to RAS amounted to 2.04 billion rubles.

VSK was founded in 1992. The company is controlled by Sergey Tsikalyuk. In 2012, the insurer collected 33.6 billion rubles. premiums, taking 6th place in the ranking of Russian insurers by fees. Payments amounted to 17.1 billion rubles. The company's net profit for 2012 according to RAS amounted to 521.8 million rubles.

The acquisition of a package of 25% + 1 shares of VSK (6th place in fees for 2012) was officially announced by RESO-Garantia (4th place) in September 2011. In its message then it was said about the creation of a single Insurance Group RESO-VSK and a possible merger between the two insurers. This would allow the group to take first place in motor hull fees, second places in accident and health insurance, OSAGO and VHI, second or third place in liability insurance and third place in property insurance, the initiators of the transaction said.

The amount of the transaction for the purchase of a blocking stake in VSK shares was estimated by experts at $250-300 million.

In October 2011, VSK submitted documents to the FAS with a request to approve this transaction. At the same time, it was announced that, in general, the deal on the integration of insurers was calculated until 2020.

In 2012, the first part of the transaction - the purchase of a blocking stake in VSK shares - was never completed. The market began to assume that the deal was upset and will not take place. However, "RESO-Garantiya" several times announced its possible imminent closure. The last time such a statement was made in February 2013. Then it was assumed that the deal could be closed in March.

The ASN was informed yesterday by several sources familiar with the course of negotiations that the deal was completely upset. The companies themselves also did not deny this.

“As part of the creation of the insurance group, the representatives of RESO-Garantia were granted corporate governance rights similar to the rights of minority shareholders. There were no transactions of purchase and sale of VSK shares. Within the agreed timeframe, the parties did not come to an agreement on further options for the development of relations. The shareholders of the companies have maintained good relations, and the companies will continue their work for the benefit of the development of the Russian insurance market,” the VSK press service told ASN in response to a request to confirm the information that the deal would not take place.

RESO-Garantia, in response to a request from the ASN, referred to the difficult situation in the OSAGO market and stated that “under these conditions, RESO-Garantia considers it untimely to make significant investments in the Russian insurance market.” The company said that they would look for "other options for achieving operational synergy" between RESO-Garantia and VSK.

Market participants interviewed by the ASN believe that the announcement of the insurers' deal could give RESO-Garantia's shareholders, brothers Sergei and Nikolai Sarkisov, a number of advantages.

First of all, this could have contributed to delaying negotiations with the French insurer AXA, which at the time of the announcement of the deal owned 36.7% of RESO-Garantia's shares and had an option to buy out the rest of the shares. The option expired on December 31, 2011. "Due to the announcement of a possible merger, negotiations with AXA were suspended and the option was not exercised within the agreed timeframe," said a market participant familiar with the deal and who asked not to be named.

“The announcement of the deal with VSK allowed Sergey Sarkisov to get a partner to create an insurance union, an alternative to the All-Russian Union of Insurers,” said another market participant, who also wished to remain anonymous.

At the same time, market participants interviewed by ASN note that the owner of VSK, Sergey Tsikalyuk, could hardly have won anything as a result of the announcement of the deal with RESO-Garantia.

Mon Sep 19 17:03:00 MSK 2011

RESO-Garantia creates an insurance group jointly with VSK

On Monday, September 19, RESO-Garantiya insurance company and VSK Insurance House announced the creation of a united RESO-VSK Insurance Group.

As part of the creation of the Insurance Group, RESO-Garantia will acquire control over 25%+1 share of VSK Insurance House (VSK SOJSC). As a result of the deal, RESO-Garantia representatives will receive up to 5 (out of 13) seats on the Board of Directors of VSK Insurance House. One of the seats in the Council will be taken by a representative of the international insurance group AXA.

Most of the seats in the governing bodies and control over the activities of the VSK Insurance House will remain with its founder, Sergei Tsikalyuk. The Russian shareholders of RESO-Garantia, Sergei and Nikolai Sarkisov, will remain in control of RESO-Garantia's activities. The decision on further integration steps may be taken in 2013-2015. One of the options for further integration involves a merger of companies and an exchange of shares or a transition to a single share.

The deal is funded by RESO-Garantia from its own funds. It is also possible to finance part of the transaction by a European bank, negotiations with which are currently close to completion. A representative of this bank may enter the Board of Directors of VSK Insurance House within the RESO-Garantia quota.

The companies will retain full independence within the Insurance Group, but will coordinate strategic plans. The terms of the deal allow for the possibility of market competition between the two companies, emphasizes Dmitry Rakovshchik, CEO of RESO-Garantia. He also notes that companies have the opportunity to widely exchange experience in those areas of work in which they have the strongest positions.

Sergey Sarkisov explained that RESO-Garantia is growing faster than the market, but this is not enough to get closer to the top, and the creation of an alliance is a real way to solve this problem. RESO-Garantia has an excess of capital, and investments in a familiar and profitable business are the most effective.

United Insurance Group RESO-VSK currently provides insurance services to more than 11.5 million individuals and 341,000 corporate clients. In 2010, the Insurance Group collected 61.6 billion rubles of insurance premiums (2nd place in terms of collections in Russia) and paid out 38.4 billion rubles of insurance claims. The total assets of the Insurance Group under IFRS as of December 31, 2010 amounted to 65.7 billion rubles.

RESO-VSK Insurance Group will have more than 1650 branches and points of sale in all regions of Russia. Insurance and financial products will be offered by 25,000 agents and 12,000 employees. Thus, the Insurance Group will have the second largest retail network of insurance and financial products in Russia.

Based on the results of 2010, the RESO-VSK Group being created controls 10.9% of the Russian insurance market. In particular, the Insurance Group occupies the following positions in the rating of Russian insurance companies in terms of insurance premiums: