×
Enjoying ad-free content?
Since July 1, 2024, we have disabled all ads to improve your reading experience.
This commitment costs us $10,000 a month. Your support can help us fill the gap.
Support us
Our journalism is banned in Russia. We need your help to keep providing you with the truth.

VTB Insurance Wins $826M Contract With Interior Ministry

VTB Insurance has won a contract worth 24.8 billion rubles ($826 million) to provide compulsory health and life insurance to the Interior Ministry, including internal troops and other personnel, the subsidiary of the state lender said in a statement.

Under the three-year contract the company will provide coverage for around one million people, making it the largest domestic insurance contract to date, Vedomosti reported on Thursday.

In 2012 VTB Insurance also won a one-year 8.1 billion ruble contract with the ministry.

This year, it beat its competitor: Maks insurance company.

Gennady Halperin, VTB Insurance CEO, said that the victory is the result of extensive training and the quality of service provided under last year's contract.

"Thanks to the company's strong financial performance, its ratings on reliability and a positive experience in this segment, we are ready to continue to offer quality service for financial protection of civil servants and their families," he said, according to the statement.

In 2012, VTB Insurance sold a total of 22.7 billion rubles worth of insurance and paid out 7.4 billion rubles to its customers.

Related articles:

… we have a small favor to ask. As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

Once
Monthly
Annual
Continue
paiment methods
Not ready to support today?
Remind me later.

Read more