trending Market Intelligence /marketintelligence/en/news-insights/trending/zxiro71l_lvrxuyyqza-_q2 content esgSubNav
In This List

Report: State owner mulls auction to sell Russian insurer Yugoria

Blog

The Big Picture 2022 Insurance Industry Outlook

Podcast

Next in Tech | Episode 37: Insurance impacts on technology and vice versa

Case Study

A Prestigious Global Business School Gains a Competitive Edge

Video

S&P Capital IQ Pro | Unrivaled Sector Coverage


Report: State owner mulls auction to sell Russian insurer Yugoria

Russia's Khanty-Mansiysk Autonomous Area announced an auction to sell OJSC State Insurance Co. Yugoria, Vedomosti reported. Feb. 28.

The auction will be held May 30, and the minimum asking price for the company was set at 2.89 billion Russian rubles, the news report noted.

A number of strategic investors, including leading financial groups in Russia, already showed interest in the company, the insurer's General Director Alexei Okhlopkov said, but he did not disclose any names.

The authorities of the Khanty-Mansiysk Autonomous Area have been unsuccessfully trying to sell the company since 2008. In January 2018, the Russian Federal Antimonopoly Service issued permission for Moscow-based company Otkryty Mir to acquire a 100% holding in Yugoria, Vedomosti noted.

As of Feb. 28, US$1 was equivalent to 56.28 Russian rubles.