Alfa Group insurer's $18 mln appeal to be heard in court
MOSCOW, September 19 - RAPSI, Natalia Belova. An appeals court will continue on Monday its hearing of Alfa Group's insurance division against an $18 million award for a federal utility company in damages for electric power substation accident in Moscow, according to court records.
The Moscow Commercial Court sided with the Federal Grid Company of Unified Energy System on May 5 and fully satisfied its lawsuit against AlfaStrakhovanie insurance company for damages following a 2008 accident.
The Federal Grid Company was established in 2002 as part of power engineering reform. Pursuant to the reform concept it controls main transmission lines. The government holds a major stake in the company.
AlfaStrakhovanie is part of Alfa Group financial and industrial consortium. It offers more than 100 insurance products, including life and accident insurance. It runs over 390 regional branches.