PSB Insurance previously SMP-Insurance

History

2023: Renamed "PSB Insurance"

According to the Unified State Register of Legal Entities, from March 28, 2023, the name of SMP- LLC Insurance has been changed to PSB Insurance LLC.

2022: SMP-Bank bought 100% of SMP Insurance

Controlled by the Rotenberg brothers, SMP-Bank became the sole owner of SMP Insurance. This was announced on October 7, 2022 by Kommersant with reference to the data of the SPARK-Interfax system.

According to the newspaper, at first the SMP Bank transferred the share of Mosoblbank, which he had on reorganization (91.3%). These changes occurred on September 1, 2022, follows from the Unified State Register of Legal Entities. A little later, SMP Bank consolidated the shares of minority shareholders - brothers Arkady and Boris Rotenberg (3.5% each) and Elena Ruzyak (1.7%). SMP-Bank received Mosoblbank for financial recovery in 2014. At the end of July 2016, a controlling stake in the insurance company was transferred to the bank being rehabilitated, before that the Rotenberg brothers owned 40% of the shares, the remaining 20% were in the possession of Elena Ruzyak, the newspaper notes.

SMP-Bank bought 100% of SMP Insurance

According to experts interviewed by Kommersant, the changes may be part of the deal to join the NSR Bank to PSB: consolidating shares "in one hand" greatly simplifies the transaction.

In fact, a potential buyer is offered a single lot with a transparent and final list of beneficiaries. This saves the buyer from the need to further negotiate with minority shareholders about the cost of their shares in the far from the main business of the NSR, GRM "said Sergey Novikov, partner of the consulting firm.

According to Expert RA, referred to by Kommersant, SMP Insurance is in 65th place in terms of insurance premiums received in 2021 (1.6 billion rubles). The main profile of the company is voluntary health insurance (47.5% of premiums for 2021), accident and disease insurance (28.5%) and insurance of other property of legal entities (10.5%).

SMB-Bank logo in 2020

SMP Insurance cooperates with both SMP Bank and with, Promsvyazbank (PSB) a source told the publication. The company is quite working, although against the background of the business of SMP Bank, it is small, he believes. The interlocutors also Kommersant suggest that the changes in the insurer's ownership structure may be part of the discussed transaction to join SMP-Bank to PSB, which does not have an insurance business by October 2022. At the same time, SK has a large equity (2.5 billion rubles), which may indicate that the company is an investment asset for the owners.^[1]

Notes