LONDON, February 21, 2014 /PRNewswire/ --

Moscow-based open joint stock company Zhaso Insurance Company has won the "Best Insurance Company in Russia in 2013" award announced by the London-based International Finance Magazine (IFM) during a glittering IFM 2013 Annual Awards function in Dubai on December 18, 2013.

     (Logo: http://photos.prnewswire.com/prnh/20140115/663464 )

International Finance Magazine has a readership across more than 190 countries worldwide with more than 1 million unique visitors a year and is one of the main sources of news and intelligence for the international financial community.

The award was announced after a rigorous evaluation of 500 nominations by an internal research team of the IFM and an external research agency.

Zhaso has been in operation in the Russian insurance market for over 18 years and provides solutions in the field of insurance and risk management primarily to both large corporations and small and medium-sized businesses. It also provides services to individual retail clients.

The company's offices are located in all regions of Russia, and it offers complete insurance solutions for the following types of insurance:

• Auto insurance;
• Property insurance;
• Rolling stock Insurance;
• Containers insurance;
• Construction risks insurance;
• Agricultural risks insurance;
• Cargo insurance;
• Liability insurance;
• Personnel insurance against accidents;
• Voluntary medical insurance.

Zhaso is the 15th largest insurance company in the Russian Federation (with 1.46 percent market share) and 6th among independent companies (i.e. companies not related to large financial groups).

It is a leading player in medical insurance (rank 4 with a 7.1 percent market share), rolling stock insurance (rank 1 with a 27.9 percent market share) and in obligatory railroad passenger insurance (rank 1 with a  50.1 percent market share).

"Despite the slowdown in 2008 and 2009 which affected most companies around the world Zhaso Insurance Company has shown steady growth in insurance premium and has contributed significantly to the growth of the insurance industry in Russia," said Tatiana Paramonova, General Director of the company in an interview to IFM after the award ceremony.

"The key difference between us and most other Russian insurance companies is that we follow international accounting standards and transparency in corporate governance," she said.

See video of interview with Tatiana Paramonova:

 http://youtu.be/2H6LkjRnsBI

Sunil Bhat, Publisher of IFM said "the awards are based on a thorough analysis of corporate, economic, environmental and social performance assessing issues, such as corporate governance, risk management, branding and new innovations in the financial industry. We hope Zhaso will continue to win awards in coming years as well."

About Zhaso Insurance Company:

Zhaso has been operating in the Russian insurance market for the last 18 years and offers a wide range of insurance products. I also develops customized insurance program tailored to the needs and characteristics of specific business enterprises.

The company's key strengths are: almost two decades of experience in the insurance industry; a wide range of insurance products and services that meet customer needs; quality of service; network throughout Russia and financial stability and reliability.

About International Finance Magazine

With its readership spread across more than 190 countries, London-based International Finance Magazine provides exclusive reports, analysis and commentary on banking, capital markets, wealth management, Islamic finance and technology.

Website:

http://www.internationalfinancemagazine.com

Twitter and Facebook:

https://www.facebook.com/InternationalFinanceMagazine

Press Contact:
Mark Miller
Phone: +44(0)208-144-3624
Email: mmiller@ifinancemag.com

SOURCE International Finance Magazine