Brussels, Belgium-based international financial services provider Fortis has launched a new life insurance company in Russia. According to Fortis, the new company, Fortis Life Insurance, will focus primarily on three core products for individual and corporate clients.
These products will include education plans and family protection plans, which will be aimed at individual customers and will be sold over the internet and the telephone, as well as a corporate pension plan to be distributed via large corporate clients to their employees.
Peer van Harten, CEO of Fortis Insurance, said: 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.
According to Maarten Pronk, Fortis country manager for Russia, the Fortis brand is already well known by Russian companies due to its activities in commodities, export and project finance. He commented that Fortis hopes to go on to achieve a dominant position in the Russian life insurance market.
The new life insurance company is now operational under the leadership of Erhard Joerchel, the newly appointed CEO of Fortis Life Insurance in Russia.