Insurance company London-Almaty JSC (Kazakhstan) and Coface sign cooperation agreement

/KASE, June 18, 08/ - Subsidiary of Bank TuranAlem JSC - Insurance company London-Almaty JSC (Almaty, in the heading - Insurance company London-Almaty JSC), common shares of which are traded in the official list of Kazakhstan Stock Exchange (KASE) of category "A", provided KASE with the press release: Quotation start: Innovational insurance decisions have become available for Kazakhstan companies. Insurance company London-Almaty and Coface (a recognized global credit insurance leader) signed a General cooperation agreement on May 26, 2008, in Paris. The Agreement is aimed to offer credit risk insurance quality products of the companies. The two companies cooperating will reach a new level in credit risks estimation thanks to enlargement of the used databases for evaluation of buyers. Coface databases contain information on more than 55 m. international companies. In its turn in accordance with the terms of the Agreement IC London- Almaty will provide insurance coverage of credit risks for Coface international clients working in Kazakhstan. According to experts, the credit risks insurance market has a great potential, though offers of insurers in the segment are rather limited, due to a high technological complexity of credit risks insurance, and necessity to use huge databases on clients. The Agreement is planned to be the first stage in cooperation of insurers, which will include development, building direct links between the companies, application of unified methods at risk estimation, development of the joint marketing strategies in credit risks insurance. Holding Coface is a subsidiary of Natixis, uniting Coface and Natixis Factor, specializing in rendering services for protection of commercial transactions. At the time being Coface provides services to more than 45 % of 500 largest corporations in the world in credit insurance, credit management service (including credit and financial information) products @rating, invoice administration and collection of accounts receivable. Quotation end [2008-06-18]