Fortis has launched a new life insurance company, Fortis Life Insurance, in Russia. Fortis Life Insurance will focus primarily on three core products. These are Education Plans and Family Protection Plans aimed at individual customers, which will be sold over the internet and the telephone, and a Corporate Pension Plan distributed via large corporate clients to their employees.
“In line with our strategy of developing our insurance model internationally based on multi-channel distribution, thereby increasing our presence outside our domestic markets, the launch of our insurance activities in Russia is a major step forward in one of today’s biggest and most promising markets,” says Peer van Harten, the CEO of Fortis Insurance. “The Russian insurance market is indeed one of the fastest growing ones on the Eurasian continent, with a population that is clearly looking for solid, long-term savings solutions. We are very excited to be starting our greenfield operations and putting the Fortis brand on Russia’s insurance map.”
“Russian companies have long been acquainted with the Fortis brand through our activities in commodities, export and project finance,” adds Maarten Pronk, the Country Manager for Russia at Fortis. “We are launching yet another important segment of our business, insurance. Fortis is one of the largest insurers in a number of European and Asian countries, and we hope to achieve the same position in Russia.”
Fortis expects to launch a marketing campaign at the beginning of 2007.