PPF’s insurance business in Russia under two brands
The PPF Group will develop its insurance business in Russia under two brands, Home Credit Insurance and PPF Life Insurance. Home Credit Insurance, a member of Home Credit Group, will focus on non-life insurance, and PPF Life Insurance will continue working on its core market. Russia is a strategic market for PPF Group.
PPF Life Insurance will continue working in the life insurance segment, which includes savings and pension life insurance as well as accident and health insurance. The PPF Group has extensive experience in this segment: it entered into its first life insurance policy in Russia in 2002.
Home Credit Insurance, a company renamed from the former PPF General Insurance, will provide insurance services through Home Credit Bank distribution network. In addition to insurance for borrowers, Home Credit Insurance will develop its own, in particular innovative, insurance products, for example in the field of property insurance. The developed Home Credit Bank infrastructure will help in making them as available to clients as possible.
All contracts previously executed by the companies remain in force and all liabilities vis-à-vis clients will be honoured to the full extent.