VTB became a shareholder of “Rosgosstrakh”

VTB acquired the shares of the insurance company “Rosgosstrakh”. This was reported in the annual accounts of the Bank under RAS (the.pdf) .

As explained in the financial statements, the Bank completed the sale of 49 ordinary registered shares of CJSC “KS-holding”. As payment had been taken of ordinary registered shares of “Rosgosstrakh” for 5,99 mln.

“As a result of this transaction, the Bank was owned by not more than 5% of the total number of shares of JSC “Rosgosstrakh”, — the document says.

In the annual accounts in accordance with IFRS (.pdf) published in late March, the Bank announced that it has disposed of its interest in the holding company “for non-monetary voznagrazhdenie without recognition of profit and loss”.

VTB acquired a 49% stake in the COP-Holding that controls the companies of the group “Kapital Insurance”, in 2010, the cost of this transaction was not disclosed. The remaining 51% of the shares of the holding went to “Rosgosstrakh”.

Rosgosstrakh is the largest insurance company. In Russia opened more than 3,5 thousand offices of “Rosgosstrakh” according to its website.