Sovcombank bought the former Uralsib insurance company for 6.8 billion rubles – Kommersant
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Sovcombank announced the acquisition of 100% of a large insurance group from third parties for 6.8 billion rubles. According to sources RBCwe are talking about Inlife, which previously belonged to Uralsib.
Purchase information without indicating the company name is disclosed in press release Sovcombank on reporting under IFRS for nine months. “The deal is aimed at strengthening the group’s insurance business and improving market positions in the life insurance segment,” the statement says.
RBC sources said that we are talking about Inlife Insurance and the related Inlife Life Insurance, which belong to PSK JSC. The owners of the latter are not disclosed; until October 2021, it was called Uralsib Insurance Group. Sovcombank previously entered into the capital of Inlife Insurance: in early September it received 0.01% in the insurance company. In November, Inlife Insurance and Inlife Life Insurance were headed by the former CEO of Sovcombank Life Insurance, Gabriella Urssu.
The deal took place against the backdrop of Sovcombank’s plans to conduct an IPO. According to Kommersant, the bank intends to raise 10 billion rubles.
Read more in the Kommersant article. “Sovcombank doesn’t ask for much”.
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