ICBA Russia

What ICBA Russia does

ICBA Russia operates as a specialized independent insurance brokerage focused on trade credit, advance payment, export credit, and reinsurance products, serving corporate clients across Russia and the CIS. The entity is structured as OOO «Страховой брокер «Эльбрус – Кредитное Страхование» (Elbrus Trade Credit Insurance Brokers LLC) and is part of the Elbrus Group, the largest Russian insurance broker; it also represents the Russian arm of the global ICBA (International Credit Brokers Association) network, which operates 70 offices in 47 countries and fields 600+ specialists serving more than 8,000 companies, including 300 multinational corporations.

The company runs a full-cycle service model: questionnaire intake, multi-insurer tender execution, contract adaptation, credit-limit negotiation, ongoing administration, and claims settlement support. Core products include trade credit insurance (covering 85–90% of debt after a ~6-month waiting period or upon buyer bankruptcy), advance payment insurance, export credit insurance, reinsurance, counterparty credit reports (delivered in 2 working days), and insurance program audits. The platform architecture is relationship-driven rather than technology-driven — the primary distribution is direct enterprise sales through dedicated account managers, supplemented by an online calculator for lead capture, a freemium trial-credit-report funnel, content marketing via a blog and glossary, and event-based networking through business breakfasts and industry conferences.

ICBA Russia generates revenue via commissions earned from insurance carriers for placing business; it is not affiliated with any single insurer and conducts tenders across the available Russian credit insurance market (post-2022 carriers including ASTK, GERSA, and PROTECTA TRADE, following the exit of Western players Atradius and Euler Hermes). The company is licensed by the Federal Service for Financial Markets (License SB No. 4262, issued January 28, 2022) and is a member of the Association of Professional Insurance Brokers (APSB). Pricing is quote-based and tailored per client, with annual billing cadence. The customer base spans mid-market and enterprise corporates across at least 15 industries — including oil and gas, chemicals, metallurgy, construction, food and beverage, pharmaceuticals, IT, and agriculture — with explicit positioning to both SMBs and exporters.

Name

ICBA Russia

Legal name

Obshchestvo s ogranichennoy otvetstvennostyu «Strakhovoy Broker «Elbrus – Kreditnoye Strakhovaniye»

Website

https://icba.ru

Company type

Private

Founded year

1999

Operating status

Operating

Headcount range

1–10 employees

Short description

ICBA Russia is an independent insurance brokerage specializing in trade credit, advance payment, export credit, and reinsurance products for corporate clients across Russia and the CIS, operating as part of the Elbrus Group and the global ICBA network.

Ownership category

akta.pro rank

Product category

Insurance Brokerage

NAICS

Agencies, Brokerages, and Other Insurance Related Activities (5242), Insurance Agencies and Brokerages (524210), Insurance Agencies and Brokerages (52421)

SIC

Insurance Agents, Brokers & Service (6411)

akta.pro primary industry

Specialty Insurance Brokerage (Marine, Aviation, Cyber, Professional Lines) (FSAEADAJ)

Keywords

• Trade credit insurance
• Insurance brokerage
• Export credit insurance
• Advance payment insurance
• Credit risk management

Headquarters

HQ city

Moscow

HQ country

Russia

HQ region

Europe

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Others

Revenue model

1. Insurance Brokerage Commission: ICBA Russia acts as an independent insurance broker, earning commissions from insurance companies in exchange for placing insurance business. The company is a member of the Association of Professional Insurance Brokers (APSB) and is licensed by the Federal Financial Markets Service (license СБ № 4262). The broker does not operate in the interests of any single specific insurer but cooperates with a broad range of insurance organizations under service agreements.

Pricing tiers

Go-to-market motion1 record

Distribution channels2 records

Marketing channels5 records

Core offering

ICBA Russia is an independent insurance brokerage specializing in trade credit insurance, advance payment insurance, and export credit insurance for corporate clients. The broker places insurance business with a broad network of insurers, manages the full insurance lifecycle (questionnaire, tender, contract negotiation, administration, claims settlement), and provides supporting credit reports and insurance program audits. Services are delivered through dedicated account managers with the backing of the global ICBA network of 70 offices in 47 countries.

Product overview

ICBA Russia (OOO «Страховой брокер «Эльбрус – Кредитное Страхование») is a specialized insurance broker offering a comprehensive suite of trade credit insurance products and services. The core portfolio centers on trade credit insurance (Страхование дебиторской задолженности), which protects businesses from buyer non-payment and bankruptcy, supplemented by advance payment insurance (Страхование авансовых платежей) for supplier prepayment risks, and export credit insurance (Страхование экспортных кредитов) for international transactions. Supporting services include credit reports (Кредитные отчеты) providing counterparty credit assessments, reinsurance (Перестрахование) for insurance companies, and insurance program audits (Аудит страховой программы). The broker provides full-cycle service: questionnaire and tender management, contract negotiation, training on insurance procedures, ongoing administration, and claims settlement support. ICBA Russia is part of the Elbrus Group, the largest Russian insurance broker, and represents the ICBA international network with 70 offices in 47 countries.

Differentiator

Problem solved

Functional benefit

Quantifiable outcome

• Insurance coverage of 85-90% of debt amount upon buyer default or bankruptcy
• +7 more outcomes

Named customers10 records

Segments3 records

Ideal customer profiles3 records

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Four partnerships are on record, tiered core and minor.

• Elbrus GroupcoreStrategic or Co-development Partner · 1 January 1999ICBA Russia is represented by OOO 'Страховой брокер «Эльбрус - Кредитное страхование' (Elbrus Trade Credit Insurance Brokers LLC), which is part of the largest Russian insurance broker Elbrus. Elbrus specializes in corporate client servicing and consulting across all lines of insurance and reinsurance. The ICBA Russia entity has been operating since 1999.
• Insurance companies (broad network)coreStrategic or Co-development PartnerICBA Russia is an independent insurance intermediary that cooperates with a broad range of insurance organizations based on service agreements. The broker conducts tenders among all specialized insurers to find the best conditions for clients. The company is not affiliated with any single insurer. Partners include major Russian credit insurers such as ASTK (formerly Atradius), GERSA (formerly Euler Hermes), and PROTECTA TRADE (formerly Credendo-Ingosstrakh).
• Association of Professional Insurance Brokers (APSB)minorOthersOOO 'Страховой брокер «Эльбрус - Кредитное страхование' is a member of the Association of Professional Insurance Brokers (APSB), located at 109004, Moscow, Zemlyanoi Val St., Bldg. 64, Str. 2, Floor 7, Office 708.
• ICBA International NetworkcoreStrategic or Co-development PartnerICBA (International Credit Insurance Brokers Association) is the world's largest network of independent trade credit insurance brokers, with 70 offices in 47 countries and 17 partner brokers in 19 additional countries. ICBA was created in 1999 in France. The Russian entity leverages the global network to adapt best practices to local requirements.

Scale indicators5 records

Recent moves5 records

Expansion highlights6 records

Direct peers

• Credendo: European trade credit insurer offering credit insurance, surety and debt collection. Highly comparable in product mix and target corporate clients; Credendo's joint venture with Ingosstrakh (PROTECTA TRADE) was named as an active insurer in ICBA Russia's tender universe.
• Atradius: One of the world's largest trade credit insurers, providing insurance, debt collection and credit management services globally. Directly comparable as a trade credit insurance specialist; was active in Russia before its 2022 exit, making it the most relevant historical peer for the same client base.
• Coface: Leading global trade credit insurer offering credit insurance, business information and debt collection. Closely comparable product set (trade credit insurance, surety bonds, business information) to ICBA Russia's core offerings, serving similar corporate buyers across multiple markets.
• Euler Hermes (Allianz Trade): World-leading trade credit insurer (now Allianz Trade) providing trade credit insurance, surety bonds and debt collection. Direct peer in trade credit insurance underwriting and brokerage-adjacent services; previously the dominant specialist in Russia before its 2022 exit.

Broad incumbents

• Willis Towers Watson (WTW): Global advisory, broking and solutions firm with a credit and political risk insurance practice. Comparable as a diversified broker offering trade credit placements and related consulting to multinational corporates, including those operating in Russia.
• Aon: Global professional services firm offering insurance brokerage, risk management and reinsurance across all lines including trade credit. Comparable as a broad-line insurance broker competing for the same Russian corporate clients on credit and political risk placements.
• Marsh (Marsh & McLennan): Global insurance broker and risk advisor providing credit insurance, political risk and trade credit solutions. Competes with ICBA Russia for enterprise placements and brings broader risk advisory capabilities that overlap with ICBA Russia's corporate client engagements.
• Lockton: World's largest independent insurance brokerage, offering trade credit and political risk placements alongside broader commercial insurance. Comparable as an independent broker competing for Russian and CIS corporate accounts requiring credit insurance intermediation.
• Arthur J. Gallagher & Co. Global insurance brokerage and risk management services firm serving commercial and industrial clients. Comparable as a broad-line broker with credit insurance capabilities targeting the same mid-market and enterprise client base in the Russian/CIS region.

Regional players

• Elbrus Group (Эльбрус): Largest Russian insurance broker, serving corporate clients across all lines of insurance and reinsurance. The parent group of ICBA Russia, directly comparable as a leading Russian-domiciled insurance brokerage operating across the same corporate client segments.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat6 records

Key risks6 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/icba-russia

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about ICBA Russia