Rosgosstrakh
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+ Rosgosstrakh |
LLC HC Rosgosstrakh is one of the largest in. The Russia insurance companies company includes 10 regional and interregional companies, 3,000 agencies, insurance departments and loss management offices located throughout the Russian Federation and united in 76 republican, regional and regional centers. About 100 thousand people work in Rosgosstrakh.
Key areas of the company's activity:
- Life insurance
- Classic insurance
Performance indicators
2023: Decrease in profit by 26% to 4.95 billion rubles
In 2023, Rosgosstrakh earned 4.95 billion rubles of net profit, which is 26% less than the previous year earlier. The insurance company published such data on industry accounting standards (OSBU) at the end of February 2024.
It also follows from the materials of Rosgosstrakh that in 2023 insurance fees from the company amounted to 82.9 billion rubles, which is 17.8% higher than a year ago. A significant part of the company's insurance premium was brought by property insurance of individuals and legal entities, motor types of insurance, voluntary medical insurance, accident insurance, the insurer's press service noted.
The total amount of payments to Rosgosstrakh for 2023 reached 32.2 billion rubles, while in 2022 the total payments for insurance, co-insurance and reinsurance operations were measured at 40.9 billion rubles. Expenses for the settlement of losses decreased to 3.7 billion against 4.5 billion rubles in 2022.
At the end of 2023, Rosgosstrakh increased assets by 7.6% compared to 2022 - to 149.7 billion rubles. The insurer's equity grew over the year by 8.9, to 58.5 billion rubles. The volume of insurance reserves also increased - to 76.7 billion rubles, which is 3.2% more than a year earlier.
According to the general director of Rosgosstrakh Maxim Shepelev, in 2023 the company was able to achieve a significant increase in the margin of the business, which had a positive effect on the financial results of the company.
 | It is especially important that a significant part of it was the income from insurance activities, because this is the main direction of the efforts of the team of our employees and the thousands of agency corps. For all types of insurance, including our flagship - insurance of housing and household property of Russians, in 2023 we showed an increase in fees, "Shepelev added.[1] |  |
2022: Growth in net profit for OSBU by 673% to 6.74 billion rubles
In 2022, Rosgosstrakh sharply increased its net profit to 6.74 billion rubles, which is 673% more than a year earlier. We are talking about indicators for OSBU, and according to IFRS, the annual net profit of the insurance company rose from 2.45 billion to 4.92 billion rubles. Such data were released in August 2023.
Rosgosstrakh linked the rise in profits with effective operating activities (cost optimization and a change in the company's OSAGO policy), as well as with good results of investment activities.
| | The company achieved a positive financial result due to the rate on balanced development in all business segments, - commented on the results of the half-year, the CEO of the company Maxim Shepelev. - Our sales plans have been implemented in all channels - agency, office, partner, corporate, digital. It is important that we see a positive growth rate of fees for all major types of insurance of Rosgosstrakh, including, of course, traditional insurance of housing and household property of citizens for the company. We remain true to our key goals, the main of which remains the growth in profitability of all divisions and lines of business. By improving the efficiency of managing the insurance portfolio, it was possible to reduce the combined loss ratio to below 100%, and competent work with the investment portfolio brought investment income significantly better than expected. | |
Life insurer Rosgosstrakh Life, part of the Rosgosstrakh group, also made a significant profit in 2022. According to OSBU, its net profit amounted to 4.1 billion rubles, and according to IFRS - 2.45 billion rubles. Rosgosstrakh's OSAGO fees were reduced by 38% in 2022, while Rosgosstrakh Life's fees increased by 22%. This is due to a change in approaches to OSAGO sales and the transfer of the personal credit insurance business to another group company.[2]
2020: Increase in fees by 10%, to 87.7 billion rubles, profit - 6.8 billion rubles
Insurance fees of Rosgosstrakh in 2020 increased by 10% compared to 2019 and reached 87.7 billion rubles. One of the main catalysts for this rise was the Internet channel for the implementation of policies.
The growth rate of insurance premium fees at Rosgosstrakh in 2020 exceeded 100% in such sales channels as online (118%), partner sales (113%), corporate (114%) and agency sales (103%).
The amount of insurance compensation that the company paid in 2020 to its customers amounted to 35.5 billion rubles. Net profit of Rosgosstrakh at the end of the year reached 6.8 billion rubles.
By the end of 2020, Rosgosstrakh's assets were measured at 149.7 billion rubles, its investment portfolio at 86.7 billion rubles, and its capital at 46.5 billion rubles.
| | It is important that in conditions of self-isolation, almost all of our sales channels in 2020 demonstrated a positive growth rate of insurance premium fees. At the same time, we seriously worked with expenses, not allowing their growth, - says the general director of Rosgosstrakh Gennady Halperin, commenting on the financial results. - All this allowed Rosgosstrakh to rise in the ranking of the largest insurers in Russia to fifth place. | |
According to him, the company was able to successfully overcome the difficult period associated with the COVID-19 coronavirus pandemic, thanks to several factors, including:
- well-coordinated work of the entire team - from insurance agents to top management;
- Business Process Restructuring
- development and launch of new products in demand by consumers;
- a built-up sales system in all channels;
- diversified insurance portfolio;
- IT infrastructure development;
- rise to a qualitatively new level of client service.
Rosgosstrakh noted that largely due to positive business indicators, the company's ratings increased: Expert RA ruAA rating (stable forecast), financial stability rating and S&P Global Ratings BB credit rating (stable forecast).[3]
History
2022
The company comes under the control of VTB
VTB closed the deal to buy FC Otkritie at the end of December 2022. In addition to the credit institution itself, VTB got two more large assets included in the group of the acquired bank - the insurance company (IC) Rosgosstrakh and NPF Otkritie.
Appointment of Maxim Shepelev as general director of Rosgosstrakh
On July 19, 2022, it was announced that Maxim Shepelev was appointed the new general director of Rosgosstrakh instead of Gennady Halperin, who headed the insurance company since mid-2019. Read more here.
2021
The court upheld the claim for the payment of a fine of 12.3 billion rubles by Rosgosstrakh in favor of Capital Life Life Insurance
The state insurance company Rosgosstrakh will have to pay 12.3 billion rubles. in favor of Capital Life Life Insurance.
On December 7, 2021, Rosgosstrakh lost the case in court at the suit of its former subsidiary Capital LLC life life insurance "associated with an agency contract. The contract provided for a large volume of sales of Capital Life Life Insurance insurance products. After Otkritie FC Bank became the new owner of Rosgosstrakh, and Capital Life Life Insurance was transferred by Danil Khachaturov to Evgeny Giner in 2018, Rosgosstrakh decided to stop selling Capital Life Life Insurance life insurance policies.
The contract concluded by the two companies provided for significant penalties for its early unilateral termination. On December 7, 2021, the Court of Appeal ruled that Rosgosstrakh must pay a penalty in accordance with the terms of the contract.
Lawsuit against the parents of a schoolboy hit by a train for a damaged Russian Railways train
In October 2021, it became known that the insurance company Rosgosstrakh (owned by the Central Bank) demanded compensation for damage of 400 thousand rubles from the family of a schoolboy who was shot down to death by the Moscow-Tver train in November 2019. The pre-trial claim, which was sent to the schoolboy's parents, says that Rosgosstrakh paid the amount of 400 thousand rubles to Russian Railways for the damaged train, but now Rosgosstrakh demanded this money from the family of the deceased teenager.
The accident occurred in Solnechnogorsk near Moscow. A 15-year-old schoolboy crossed the tracks along the ground crossing and did not notice the approaching Moscow-Tver train. The driver tried to warn the teenager with beeps, but the boy did not hear them because he was wearing headphones. In a collision with a train, the child was thrown 50 meters away, he died from his injuries before the arrival of doctors. Rosgosstrakh explains its claims by the fact that the student violated the rules for staying at the railway tracks, that minors from the age of 14 are themselves responsible for the harm caused, which means that the legal representatives of the deceased teenager had obligations to Rosgosstrakh.
"In order to avoid transferring the collection to the judicial stage and increasing the amount of debt, you need to pay an amount of 400 972, 37 rubles within 10 days from the date of receipt of this letter," the letter says. After that, the mother was warned that if the case comes to court, the amount of recovery could grow by 25%, and if representatives of the deceased child refuse to pay money, the court can recover property, real estate from them, etc.
The mother of the deceased schoolboy paid Rosgosstrakh money in pre-trial order, but now plans to appeal to the company with a response.
New Chief information officer - Denis Guzovsky
At the end of July 2021, Denis Guzovsky was appointed head of the information technology block of the Rosgosstrakh insurance company. Read more here.
2020
Transfer under the direct management of Otkritie Bank
In mid-November 2020, it became known that Rosgosstrakh had completely come under the direct management of Otkritie Bank. The latter increased its share in the insurance company from 50.28% to 99.44%, according to data disclosed by Rosgosstrakh. Officially, this happened on November 12.
The Otkritie Bank said in a statement that it, among other things, reduced the share of the indirect order of Rosgosstrakh to 0.2% from 49.36%.
As Interfax reminds, since 2017, Otkrytie has directly owned 50.12% of Rosgosstrakh's shares, another 49.34% of the bank's shares were owned through RGS Holding LLC, which is undergoing bankruptcy proceedings by mid-November 2020.
In June 2020, bankruptcy proceedings were launched against RGS Holding, after which the company's property was put up for auction. It included 240.7 billion shares of Rosgosstrakh with an initial price of 32.6 billion rubles. At the same time, Otkritie Bank decided to leave the subject of the pledge with it at a price of 26.1 billion rubles.
The market value of Rosgosstrakh shares acquired by the holding, according to these quotes, was 40.5 billion rubles. The target nature of the loan, as well as the agreement concluded between the debtor and the bank to secure the loan agreement, the pledge of Rosgosstrakh shares minimized the risks of non-repayment of the loan and allowed the bank to count on profit in the form of interest on the use of the loan, the court said.
Since February 2017, Rosgosstrakh has been under the control of the managers of the Otkritie group. During this time, the personnel was significantly updated. By order of the Otkritie group, an audit of the IFRS of Rosgosstrakh's reserves was carried out by Deloitte & Touche, "which did not reveal any problems in this area."[4][5]
The court commuted the sentence to the ex-owner Khachaturov - 4 years in prison
On October 16, 2020, the Moscow City Court commuted the punishment for Sergei Khachaturov, who was previously found guilty of fraud and legalization of 6 billion rubles, as well as embezzlement of 2.4 billion rubles. The former co-owner of the insurance company Rosgosstrakh was reduced from eight to four years in prison. Read more here.
Lawsuit in Los Angeles against ex-owner of the company Danil Khachaturov $205 million
In September 2020, the insurance company Rosgosstrakh filed a lawsuit with the California Supreme Court for the District of Los Angeles against its former owner Danil Khachaturov, from which they demand $205 million.
Former top Rosgosstrakh Sergei Khachaturov sentenced to 8 years in prison for embezzlement of 8 billion rubles
On July 14, 2020, the Dorogomilovsky Court of Moscow sentenced Sergei Khachaturov for embezzlement of 8 billion rubles. The former co-owner of Rosgosstrakh was found guilty of committing crimes under Part 4 of Art. 160 of the Criminal Code of the Russian Federation ("embezzlement on an especially large scale"), part 4 of Art. 159 of the Criminal Code of the Russian Federation ("Fraud on an especially large scale") and part 4 of Art. 174.1 of the Criminal Code of the Russian Federation ("Legalization of funds"). Read more here.
Otkritie FC Bank brought its stake in Rosgosstrakh to 99.6%
In January 2020, the bank became known that FC Otkritie brought its stake in Rosgosstrakh to 99.6%. The credit institution bought out the shares of the insurer from related organizations - from the bank of non-core assets "Trust" and the subsidiary pension fund (NPF) "Otkritie." The volume of transactions is estimated at 11.8 billion rubles.
The Central Bank Otkritie FC Bank, owned by the Central Bank, increased its stake in Rosgosstrakh by 7.1 percentage points (pp) to 99.6%, follows from the message of the credit institution. At the same time, the direct disposal of shares in the insurance company increased by 17.8 pp, to 50.1%.
According to the Moscow Exchange, on December 26, two major transactions were held with a difference of ten minutes. At 17:21, transactions with 9.96% of Rosgosstrakh shares (in the amount of 6.9 billion rubles) passed through the exchange. The subsidiary pension fund of NPF Otkritie had the same share. In December, a source close to the fund said that NPFs could soon get rid of one of their strategic assets. According to Kommersant's calculations, the price at which the bank bought back shares from NPFs amounted to 14.13 kopecks, while they stood at 14 kopecks on the balance sheet of the compulsory pension insurance fund (OPS).
At 17:31 there was a deal with 7.13% of the insurance company (4.9 billion rubles) at approximately the same price as the purchase of Rosgosstrakh shares from Otkritie NPF. The bank owned by the Central Bank of non-core assets Trust had the same share: on December 31, Trust announced that it had withdrawn from the insurer's capital.
Earlier, experts in such transactions - in terms of volume and price changes in the low-liquid market - with the participation of Otkritie FC Bank, LUKOIL-Garant NPF (later renamed Otkritie) and Rosgosstrakh shares saw some signs of contractual transactions on the main market of the Moscow Exchange.
2019: Criminal case on damage to Rosgosstrakh
In November 2019, the Ministry of Internal Affairs opened a case on damage to Rosgosstrakh in the amount of 1.3 billion rubles.
As a result of the implementation of the "plan aimed at extracting benefits," unidentified persons from among the management of Rosgosstrakh in 2017 could cause damage to the company by 1.34 billion rubles. The criminal case was initiated at the request of Peter Aven from Alfa Bank.
The investment A1 (together with the bank is part of Alfa Group) assists Rosgosstrakh in the return of assets and money illegally withdrawn from the insurance company by former owner Danil Khachaturov, followed from his appeal.
The plan, according to the investigation, was as follows:
On August 16, 2017, Capital Re, a member of Rosgosstrakh, contributed a network of Medis clinics to the authorized capital of RGS Med-Invest LLC in exchange for 2.89% of the LLC's shares. But, according to the investigation, such an exchange "clearly does not correspond to the size of the contribution to the authorized capital": Medis was profitable, actually consisted of 13 clinics, 159 health centers and served more than 170 thousand patients. RGS Med-Invest did not carry out financial and economic activities and since 2013 has received a net loss. As a result of such an unequal exchange, Capital Re lost actual control over the network of clinics, which caused damage to society of at least 800 million rubles, the document says.
On August 23, Capital Re bought RGS-Life bonds worth Real estate 481 million rubles from the life insurer. The latter company was in a "pre-bankruptcy state" and did not have the opportunity to fulfill its obligations under bonds. Already on September 6, the issuer declared the first default, and on September 28, the only participant in RGS Real Estate decided to liquidate it.
On August 29, unidentified persons from among the management of Capital Re bought from SC Capital Life Eurobonds of Otkritie Bank for 59 million rubles. On the same day, temporary administration was introduced in the bank, which led to the write-off of Eurobonds and damage to Capital Re for this amount.
Under the terms of the agreement between Rosgosstrakh and Otkritie, Danil Khachaturov, as the investigator writes, "continued to exercise actual control" over all legal entities that were part of the group, since he was the general director of KS-Holding, which owned 99.99% of the RGS. Among these companies are Capital Re, KS-Holding, SK Capital Life and RGS Med-Invest. He had control until October 16, 2017, indicated in the decree. On October 1, 2018, Capital Re was merged with Rosgosstrakh.
Rosgosstrakh, which disputes the transactions in arbitration, believes that they were made to the detriment of the companies that entered the transaction with Otkritie and were transferred to its ownership, and the property was consolidated from a group of companies controlled by Khachaturov. After Aven's letter to the president, several Rosgosstrakh lawsuits, which he had previously lost, were sent for new consideration.
2017: Control of the company passes to the Central Bank
The deal to merge with Otkritie was closed in August 2017, but at the same time the Central Bank was forced to start reorganizing the group - only the acquired insurance company passed to the regulator within its framework. The new owner of Rosgosstrakh decided to challenge in arbitration courts transactions worth almost 1.5 billion rubles, made between Khachaturov's companies before its sale to Otkritie.
2016: Khachaturov sells the company to the Otkritie Group
In 2016, the main owner of Rosgosstrakh, Danil Khachaturov, agreed to sell the company to the Otkritie group, which belonged to Vadim Belyaev.
In December 2016, it became known that the Otkritie Group and the Rosgosstrakh Group were combining to create the largest private financial company in Russia. The group's assets will exceed 4 trillion rubles, the customer base - 50 million people, the number of points of sale of the company - 4 thousand, the total number of employees - 100 thousand people.
The governing body will become Otkritie Holding"." He will control banks the Otkritie, and Rosgosstrakh Bank insurance groups. Rosgosstrakh At the same time, the Otkritie team will develop a banking, investment and brokerage business, as well as asset management, the Rosgosstrakh team - an insurance business. Legal processes to consolidate the organization will continue throughout 2017.
When the group is merged, both company brands will be retained. As for the structure of shareholders, insignificant changes will occur in it - the co-owner of Rosgosstrakh Danil Khachaturov will become the owner of a minority stake in Otkritie Holding.
Notes
- ↑ In 2023, the result of Rosgosstrakh from insurance activities increased by 78.9%
- ↑ Rosgosstrakh, thanks to a moderate appetite for OSAGO in 2022, received a net profit of 6.7 billion rubles.
- ↑ Rosgosstrakh fees in 2020 increased by 10%
- ↑ PJSC IC Rosgosstrakh - The acquisition by a person of the right to dispose of a certain number of votes attributable to voting shares (shares) constituting the management company of the issuer
- ↑ of Rosgosstrakh completely came under the direct management of Otkritie Bank
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