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. Last Updated: 07/27/2016

Ingosstrakh Earnings

MOSCOW -- One of Russia's leading insurers, Ingosstrakh, said Wednesday that preliminary estimates showed that it collected 1.21 billion rubles ($530.24 million at Thursday's exchange rate) in 1998, 6.3 percent more than in 1997. Russia's annual 1998 inflation was 84.4 percent.

Payouts amounted to 1.65 billion rubles in 1998, more than five times the previous year, it said in a statement.

It said the firm had to make the heaviest payments after an An-124 crash in Irkutsk and after the Central Bank lost connection with a satellite it operated to regulate the domestic debt market. It paid $140.8 million for the two cases.