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INTOUCH Insurance Group (previously known as GDII) Launches Operations in Russia
INTOUCH Insurance Group B.V. ("INTOUCH Group") announced today the launch of its direct insurance operation in Russia. The activity will be performed via OJSC INTOUCH INSURANCE ("INTOUCH Russia"), a fully owned subsidiary of the group.
7 April 2008Amsterdam,
INTOUCH Group is a Dutch-registered company that already successfully operates direct insurance businesses in Poland and the Czech Republic. The shareholders of INTOUCH Group are RSA (UK), one of the world’s leading multinational insurance group, and Direct Insurance Financial Investments ("DIFI") from Israel.
INTOUCH Russia is the first company to offer direct insurance services in the Russian market and is ready to initially provide its services in the districts of Moscow and Samara. The company intends to further expand its activity to other districts in the future.
The European Bank for Reconstruction and Development ("EBRD") has partnered with INTOUCH Group and has signed an agreement to invest in the INTOUCH Russia and will become a partner in this venture.
“The launch of the Russian operation is a very important step in our group's development,” says INTOUCH Group CEO Doron Schneidman. "We have decided to enter this fast growing market having a proven success record of similar companies operating in other parts of Europe. We are happy that today we can give to Russian customers the unique proposition of purchasing insurance conveniently over the phone."
Adrian Brown, COO of RSA UK added: “Intouch is bringing direct insurance to Russia for the first time. By enabling customers to buy their insurance direct via the phone and internet they will receive levels of service, products and prices that go beyond what has traditionally been available form the insurance industry. Seven years ago, we took the same concept to the UK through MORE TH>N, which is today one of the leading direct insurance companies in the UK with over 2 million policies in place.
Through Intouch Insurance Group we are combining RSA’s global expertise and technical excellence with DIFI's experience of building leading positions in new markets including Poland and Czech Republic. We are confident that we will replicate the success of our other direct businesses in Russia.”
The company, which until recently was named Global Direct Insurance Investments B.V. (GDII) has also announced the completion of its branding process and the launch of a new brand name – INTOUCH. As part of the branding process, the group launched its new website www.intouch-ins.com.
About the Company
INTOUCH Insurance Group B.V. is a leading international provider of direct insurance, introducing innovative methods of purchasing reliable insurance policies over the phone or the internet.
The shareholders of INTOUCH Insurance Group B.V. are RSA and Direct Insurance Financial Investments ("DIFI").
R&SA is one of the world’s leading multinational quoted insurance groups, with the capacity to write business in over 130 countries and with major operations in the UK, Scandinavia, Canada, Ireland, Asia and the Middle East and Latin America. Focusing on general insurance, it has around 22,000 employees and, in 2007, its net written premiums were £5.8bn (appx. Euro 7.3bn). With an almost 300 year heritage RSA is the oldest insurance company in the world still trading under its original name.
DIFI, listed on Tel Aviv Stock Exchange, has been on the market for over 13 years. DIFI owns the leading direct insurer in Israel.
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