VSK net profit for 2021 according to IFRS goes up by 21%, reaching RUB 4.8 billion

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

The company's insurance premiums for 2021 reached RUB 95.3 billion, an increase of 5%. Insurance payouts rose by 19% to RUB 54.5 billion.

The company's IFRS statements are available at the link.

The company ranks 6th on 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 thousand organizations have taken advantage of VSK's products and services. The company's regional network includes over 500 offices in all constituent bodies of Russia. The reliability and financial stability of the company 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 controlling stake in VSK belongs to the company's founder Sergey Tsikalyuk, while the remaining 49% are owned by the SFI investment holding company (MOEX: SFIN). In 2022, the company celebrates its 30th anniversary.