Roman Avdeev wants to buy state insurer "Yugoria"

The opponent of the owner of the IBC can become "AlfaSurance".
15.05.2018
Vedomosti
Origin source
The structures of the main owner of the Moscow Credit Bank (CBM) Roman Avdeev are interested in buying the state insurance company "Yugoria", the familiar Avdeeva and two people who were familiar with the preparation of the auction told Vedomosti. The representative of Yugoria declined to comment.

"Yes it's true. The concern "Rossium" is interested in buying Yugoria. We have never had an insurance business, we see its development within the holding. This is a new business for the group, so we are interested in buying a player with an established business model, rather than starting from scratch. We applied for a tender and will make a final decision on the deal at the end of May, "Avdeev told Vedomosti.

The only shareholder of Yugoria is the Khanty-Mansi Autonomous Area (KhMAO), he has been trying to sell the company for 10 years. The next auction for the sale of 100% of the shares of "Yugoria" is scheduled for May 30. The starting price is 2.89 billion rubles, the insurer informed.

A competitor of "Rossium" can become "Alfahrakhovanie", say two people who are familiar with the course of preparation for the auction. "AlfaSurance" always considers any interesting business growth opportunities, but prefers not to comment on them until the result or final agreements are reached, Vladimir Shvortsov, the general director of "Alfahrakhovaniye", transferred through the representative.

Interest Avdeeva to "Yugoria" may be associated with plans to develop insurance business within the holding, in which there is still no such direction, believes Alexei Bredikhin, director of the group of ratings of financial institutions AKRA. But he believes that this asset carries great risks for the businessman. "It will require large investments in Yugoria in order to build a good business on the basis of the company, which would be built by the ICB," Bredikhin said.

According to Bredikhin, "Yugraia" can be interesting to Alfrahsanova from the point of view of its profitable clients, which are owned by the state insurer in the Khanty-Mansi Autonomous District and the Tyumen Region.

"Yugoria" in 2017 collected 9.4 billion rubles. premiums - 23rd place, according to the Central Bank. The company is mainly engaged in motor insurance: 63% of premiums were paid on compulsory motor third party liability insurance, and 27% - on motor hull insurance, Anastasia Litvinova, director of insurance analytical group Fitch. In the Khanty-Mansi Autonomous District and the Tyumen Region, the company is the leader in compulsory motor TPL insurance (the Russian Union of Motor Insurers places these regions as favorable). "Thus, if Yugoria is sold, the buyer will receive a point-by-point, from the regional point of view, profitable strengthening of the market share in OSAGO", concludes Litvinova.

"Ogorya" was interested in buying Yugoria, in January it received permission from FAS for the deal. But in March the company said that it was refusing to buy other companies. A person close to her and an interlocutor close to Yugoria explained the change in plans by the position of the Central Bank, which considered such an investor unacceptable for Yugoria. The Central Bank has never commented on this.

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