The net loss of Rosgosstrakh under international reporting standards in 2016 increased sevenfold - to 33 billion rubles, according to the disclosure of the company. Insurance activities turned out to be unprofitable for the company - it lost 11 billion rubles. (A year earlier, the main activity brought Rosgosstrakh profit of 10.5 billion rubles.) The premiums fell by 22 billion rubles. Up to 141 billion, payments increased by 20 billion to 118.6 billion. Income from Rosgosstrakh's investments fell three-fold compared to the previous year - from 18.8 to 5.7 billion rubles. At the end of the year, the company's negative cash flow at 54 billion rubles. A year earlier, the cash balance was positive and amounted to 2.3 billion rubles.
The losses of Rosgosstrakh are related only to the general problems of the OSAGO market; for all other types of insurance, profits have been received, his representative says, the decrease in investment income is related to the market situation and the need to direct funds not for investments, but for payments on car insurance. Negative cash flow is also a result of the problems of the OSAGO market, the main impact of which the company assumed as the market leader, he continues: "Payments as a result of an unbalanced tariff in a number of regions and the growing activity of fraudsters have exceeded premiums even without taking into account reserves and expenses for business management - Today this is already a problem for more than a third of insurers in the market. But the reserves of "Rosgosstrakh" in any case today are enough for work, which can not be said about many other companies. "
The reporting of Rosgosstrakh is not fully published: page 94, which contains information on events that occurred after the reporting date (December 31, 2016), is indicated in the content, but there is no report. "IFRS accounts should be disclosed in full, without exceptions," the representative of the Central Bank says: if the deficiencies are identified, the regulator recommends that they be eliminated, if violations are detected, "applies the measures of influence."
A representative of Rosgosstrakh admitted that the statements were not published in full, but, according to him, "no significant events occurred after January 1, 2017".
In December, several bankers and insurers told Vedomosti that the president of Rosgosstrakh, Danil Khachaturov, is negotiating the transfer of control over the company to the Otkritie financial group in exchange for a minority stake in its capital. The merger will take all of 2017, while the accession to the "Discovery" of the insurer and the RGS-bank and Rosgosstrakh under its control is being discussed, a person familiar with both sides of the talks specified earlier. Another company of the group, Rosgosstrakh Life, will stay with Khachaturov, a person close to the "Discovery" said: at the end of last year, it was transferred to the control of his friend and long-time partner Alhasa Sangulia.
In February, the Central Bank registered an additional issue of Rosgosstrakh: 116 billion ordinary shares of the company will be placed through an open subscription of 40 kopecks. a piece. The additional issue began in the spring and may last until June.
Also in February, a person close to Rosgosstrakh told Vedomosti that the operational management of the insurer and the RGS-Bank was transferred to the first deputy chairman of the bank of FC Otkrytie Vladimir Rykunov and the opening of the holding company Alexey Karakhan. Representatives of the "Discovery" in the framework of due diligence (led by Rykunov) do indeed meet with the heads of Rosgosstrakh and take part in meetings, said a person close to the financial group, but all decisions remain with the team of Rosgosstrakh.
In April, Rosgosstrakh's shareholder, RGS Holding (which controls 50.46% of the company, is headed by Sergei Khachaturov), within the repo transaction, borrowed money from FC Otkrytie on a pledge of 15.4% of the company's shares, the bank's share in the insurer's capital Grew from 4.4 to 19.8%.