Mikhail Zadornov: in Rosgosstrakh everyone was stealing

The financial problems of the insurance company are a consequence of its business model, said the new head of the board of directors of Rosgosstrakh.
Origin source
President VTB24, the future head of FC "Otkrytie" and the board of directors of Rosgosstrakh, Mikhail Zadornov, told the Kommersant newspaper about the reasons for the financial problems of Rosgosstrakh.

The widespread opinion that the problems of Rosgosstrakh are associated with high payments for OSAGO, he said, is not entirely correct. "It's so convenient to file a situation," said Zadornov, who at the end of November headed the board of directors of the insurance company. In his opinion, Rosgosstrakh was "burned" because, having a unique position in the market, "he managed to do absolutely nothing in the person of his owners and management for ten years."

"Neither from the point of view of the IT platform, technologies and network management, which are in a terrible state, nor from the point of view of the basic principles of controllability," Zadornov pointed out. "In Rosgosstrakh, there was also theft from top to bottom. And after that we say that the company burned to OSAGO ?! "- he added.

According to Zadornov, the origins of the problems of the insurance company should be sought in the fact that its business model is outdated and "has never been aimed at bringing legal profits to shareholders".

"Apparently, the shareholders of Rosgosstrakh preferred in some other way to receive a benefit from the ownership of the company," he summed up.

Until the end of 2017, according to Zadornov, the business plan for the next year will be approved. The insurance company is planning to capitalize, and a new board and top management will also be formed.

However, making Rosgosstrakh profitable again "without serious regulatory changes on the market is impossible," Zadornov believes, so the new management plans to "propose various changes together with other insurance companies."

The fact that the average insurance payment of Rosgosstrakh in the first half of 2017 is above the market average by 70% and reached almost 100 thousand rubles. In October, analysts of ACRA paid a note (average market payment - 57.6 thousand rubles). Some experts linked this indicator with the bad faith of individual employees.

In the insurance company itself, in a conversation with RBC, this was explained by the fact that they work in the "toxic" regions where fraudsters-autourists are operating, as well as the fact that "there is a different practice of accounting and reflection of insurance payments". Rosgosstrakh discloses data on payments in general, including all payments on courts, which give the main dynamics, while other companies often show legal costs as expenses on other items, the press service of Rosgosstrakh stated.

The fact that the holding company "Otkrytie" may acquire Rosgosstrakh Insurance Company, RBC sources on the insurance market reported in December 2016, but the deal was not officially recognized by the parties for almost half a year. At the same time, the "Opening" funds provided the "Rosgosstrakh" group without legal control.

In aggregate, the amount of funds allocated by Rosgosstrakh's "Discovery" in the first half of the year was 40 billion rubles. On August 29, the Central Bank announced the reorganization of FC Otkritie together with a number of its assets, including Rosgosstrakh, through the Banking Sector Consolidation Fund. According to the latest data, the Central Bank estimates the costs for the reorganization of the Otkrytie Bank group at 450 billion rubles.

President VTB24 and the head of the board of directors Mikhail Zadornov assumes the post of chairman of the board of the bank "FC Opening" on January 1, 2018.