Safmar Financial Investment: VSK’s net profit for 2021 under IFRS increases by 21% to 4.8 billion rubles

Net profit of VSK Insurance House (VSK IJSC, a subsidiary of investment holding company SFI, MOEX: SFIN) for 2021 according to International Financial Reporting Standards (IFRS) increased by 21%, reaching 4.8 billion rubles.

The company’s insurance premiums for 2021 reached 95.3 billion rubles, an increase of 5%. Insurance claims increased by 19% to 54.5 billion rubles.

The company’s IFRS accounts are available at the link.

The company ranks 6th in the Russian insurance market in terms of insurance premiums.

VSK Insurance House has been operating in the market since 1992 and is a comprehensive insurance company that provides services to individuals and legal entities throughout Russia. The company consistently ranks among the top 10 insurers in the country in terms of premiums collected. To date, more than 30 million people and 500,000 organizations have benefited from VSK’s products and services. The company’s regional network includes more than 500 offices in all constituent bodies of Russia. The company’s reliability and financial stability have been confirmed by leading Russian agencies: VSK has a rating of ruAA according to the Expert RA rating agency and AA(RU) according to ACRA. The majority stake in VSK is owned by the company’s founder, Sergey Tsikalyuk, while the remaining 49% is held by investment holding company SFI (MOEX: SFIN). In 2022, the company celebrates its 30th anniversary.

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Safmar Finansovye Investitsii PAO published this content on April 04, 2022 and is solely responsible for the information contained therein. Distributed by publicunedited and unmodified, on Apr 04, 2022 09:13:02 UTC.

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