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Our History

ENERGOGARANT has been successfully working in the Russian insurance market for already 25 years. The distribution network of the Company comprises approximately 300 branches and representative offices covering all regions of Russia. ENERGOGARANT employs more than 2,000 people.

ENERGOGARANT is one of the largest insurance providers operating on the Russian insurance market today. It ranks 12th in terms of total premium income (excluding life insurance and compulsory medical insurance). In 2015, Central Bank of Russia designated ENERGOGARANT as a systemically important insurance company. ENERGOGARANT operates in various lines of insurance and offers a diverse range of insurance products (more than 250 insurance products) for individual and corporate customers. The high level of reliability of the Company is confirmed by the major domestic and global rating agencies.

Main milestones of the corporate history

Summer 1992 – ENERGOGARANT was founded as an Open Joint-Stock Insurance Company. The founders included Russia’s electricity majors (regional systems), the Electrical Workers Trade Union, Electrobank, heads of electricity companies and a number of enterprises of other industries.

Autumn 1992 – the Company opened its first offices in Rostov-on-Don, Vladimir, and St. Petersburg.

1992 – 1995 – the Company built a regional network. This consisted of over 60 branch offices located in Russia’s key regions. ENERGOGARANT successfully insured electric power enterprises and provided health coverage to employees of these businesses.

1996 – 1999 – the Company served over 70% of the electricity insurance market. It actively implemented property plant and machinery insurance programs for enterprises of electric power industry. It began to develop new markets by leveraging its experience in corporate insurance.

Without disrupting its financial stability, the Company made large payouts, including a hurricane-caused damage to Mosenergo buildings and facilities, and a Kosmicheskaya Svyaz satellite breakdown.

The Company continued to develop voluntary health insurance and launched a specialized branch, Health and Life.

2000 – 2002 – the Company’s Board adopted a new concept of development which set out its transition to a universal insurance carrier, and was able to greatly increase its business in other, not associated with electricity, industries. ENERGOGARANT was named the “Company of the Year” in 2002.

2003 – 2007 – ENERGOGARANT grew into a group of businesses that included five insurance providers (including those specializing in particular types of insurance), an insurance broker, a non-public pension fund and a finance company, which enabled the Company to appreciably expand the range of its financial services. It was included on the list of the best-rated insurance companies (‘A+’ rating from Russian rating agency Expert RA).

ENERGOGARANT's subsidiary “Medical and social insurance company ENERGOGARANT” launched a new line of business, compulsory medical insurance. The regional network of the Company expanded to 124 branches and representative offices in 78 territorial subjects of Russia.

Autumn 2007 – ENERGOGARANT undertook a rebranding. The key idea behind its new brand was the ENERGY of a common cause. Enterprising managers, lucrative offers to customers, partnership, customized approach, financial independence, success, and freedom – all these were named the key values of ENERGOGARANT’s new brand.

2008 – 2011 – the Company weathered the global economic slump and strengthened its market position. In the summer of 2009, ENERGOGARANT increased its authorized capital from 850 mln. rubles to 1,105 mln. rubles. The Russian rating agency Expert RA upgraded Company’s credit rating to an extremely high (the highest) ‘A++’.

In 2010, Standard&Poor’s International Rating Agency gave the Company a national scale rating of ‘ruAA-’ and a global scale rating of ‘BB-’ with a Stable outlook.

2012 – 2017 – over 50 new representative offices were opened in different regions of the country. The authorized capital was increased to 2,040 mln. rubles. ENERGOGARANT is one of the leading insurance providers in Russia which is confirmed by the highest reliability ratings. National Rating Agency upgraded the reliability rating of the Company to a maximum reliable rating, a sign of stability and high efficiency of the strategy implemented by the Company.

In the autumn of 2012, ENERGOGARANT again won a prestigious national award “Company of the Year” in the category of ‘Reputation and Trust’.

In 2015, Central Bank of Russia designated ENERGOGARANT as a systemically important insurance company.

The Company has a highly diversified client base which includes the largest power, oil refinery, metallurgical, machine building, construction, telecommunication, industrial, transportation and leasing companies, financial and medical institutions, and hundreds of thousands of retail customers.