said March 31 that AntonUstinov was appointed chairman of its management board.

Priorto the appointment, Ustinov was an adviser to Russian President Vladimir Putin.

The newchairman will replace Sergey Ivanov, who will continue his professional career outsidethe company, the insurer said.

Ivanovwill join PAO Sberbank of Russiaas senior vice president and will oversee its insurance business, Vedomosti said March 31. One of the newspaper'ssources said that he could possibly replace Sberbank CEO Herman Gref in the future.