Oleg Deripaska's partner Pavel Yezubov got rid of shares of Ingosstrakh

Pavel Yezubov sold his stake in Ingosstrakh, sources say. Among the shareholders of Ingosstrakh is Oleg Deripaska (10%) and the structure of the Italian insurer Generali (38.45%), who was under the sanctions.
Origin source
One of the shareholders of the Ingosstrakh insurance company Pavel Ezubov, who sells 16.03% of the company through Bekar-Service LLC, sells its stake, Interfax reports citing a source in the insurance market. The source of RBC, close to the insurer, confirms this information, specifying that Yezubov has already sold the stake and the deal is closed. The buyer does not disclose the sources of "Bekar-Service" share.

Ingosstrakh declined to comment.

According to the interlocutor of RBC, close to Ingosstrakh, the change in the shareholder structure is due to the desire of the largest Italian insurance company Assicurazioni Generali to gain control in Ingosstrakh. "Generali has long been looking for an opportunity to increase the stake in Ingosstrakh to a controlling one," another source familiar with the deal knows. RBC sent a request to Generali.

P avel Ezubov is a longtime business partner for the owner of Oleg Deripaska, who got under the sanction of UC Rusal, who directly owns 10% of Ingosstrakh. Ezubov is not only a business partner, but also a cousin of a billionaire, RBC sources said.

On April 6, the US Finance Ministry included in the sanctions list a number of large Russian companies and their owners, including En + Oleg Deripaska and UC Rusal, which is part of it. The April sanctions not only impose a ban on Americans for transactions with sub-entities and companies controlled by them, but also bear the risks of secondary sanctions for foreign (non-US) investors and creditors.

The direct shareholders of the Ingosstrakh insurance company are several legal entities (the largest package does not exceed 17% of the shares), and Oleg Deripaska (owns 10% of the shares). As it follows from the data on the Central Bank's website (now the information is not disclosed), 38.45% of the shares of Ingosstrakh JVC are controlled by Italian Assicurazioni Generali SpA through several companies, Pavel Ezubov is the owner of a 16.03% stake, Victoria Brazhnik (15.68%) and 16.29% - from Yevgeny Agarkov. Ingosstrakh, Ingosstrakh and Ingosstrakh-Investments are not in the Basic Element group, but they are in the sphere of investment interests personally, Oleg Deripaska, the Basel website says.

Ingosstrakh is the fifth largest insurer in Russia in terms of premiums, it follows from these Central Bank. The company's net profit in the first half of 2018 under the IAS was 3.1 billion rubles, which is 35% less than a year ago, the company reports. The premiums of the insurer decreased by 4%, to 44.1 billion rubles, payments - by 7%, to 20.7 billion rubles.

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