Mikhail Zadornov was named chairman of the board of directors at PAO Rosgosstrakh, the Russian insurer said Nov. 28.
Zadornov serves as chairman of the management board at JSC VTB Bank unit Bank VTB 24 but is set to become the head of Otkritie Financial Corp. Bank, the financial recovery of which is overseen by the Russian central bank. Rosgosstrakh has been included in the recovery scheme as a company controlled by Otkritie.
The newly elected board also includes Valery Goreglyad, who serves as chief auditor at the Russian central bank; Nikolay Galushin, who is president of Russia's National Reinsurance Co.; Rosgosstrakh's general director Nikolaus Frei; as well as Peter Mueller, Veniamin Polyantsev, Anatoly Predtechensky, Oleg Pyatakov, Alexander Sokolov and Maxim Chernin.
The board will actively participate in the development of a strategy for the insurance company and its implementation, with Rosgosstrakh's main priorities to include reducing losses generated by its compulsory third-party motor liability insurance business, as well as the development of profitable voluntary insurance and bancassurance products, Zadornov was cited as saying.
