The last state insurer passed into private hands

The last state-owned insurance company (GSK) - Yugoria - changes the owner. On Wednesday, an auction was held, which won the group of companies "Region" Alexander Rudyk.
This is reported on the company's website. The amount in the message is not specified, TASS reports that "Yugoria" was bought for the initial amount of the transaction - 2.9 billion rubles. The auction also involved Sovcombank and the concern "Rossium" Roman Avdeev. The state tried to sell "Yugoria" for 10 years.

"The management of the company assesses the change of ownership as a unique opportunity to gain access to the financial resources of the new shareholder, technology and distribution network," the report of Yugoria says. The company will retain its independence, the brand and the team, the head office and key units will remain in Khanty-Mansiysk, said Yugoriya CEO Alexei Okhlopkov.

"Region" has long planned to supplement its line of financial services with the services of an insurance company, said the chairman of the board of directors of the group Sergei Menzhinsky.

 Yugoria is a universal insurance company. Last year, the insurer concluded more than 1.9 million contracts, for which 9.4 billion rubles were raised. (23rd place, according to the Central Bank), net profit amounted to 664 million rubles. The company deals mainly with motor insurance: 63% of premiums were paid for compulsory motor third party liability insurance, and 27% for CASCO. "If Yugoria is sold, then the buyer will receive a point-based, from the regional point of view, profitable strengthening of the market share in OSAGO," said the director of the insurance analytical group Fitch Anastasia Litvinova.

Authorities of the Khanty-Mansiysk Autonomous Okrug periodically included Yugoria in the privatization plan for 10 years. Unsuccessfully trying to sell the company, the authorities constantly lowered the price: in 2009 the shareholder asked for 7 billion rubles for it, in 2012 - 5.2 billion rubles. In autumn 2016, the authorities again included Yugoria in the privatization plan, asking for 3.9 billion rubles. In 2018, the value of the company fell to 2.9 billion rubles.

The purchase of Yugoria at the beginning of the year was interested in IC Opora. In January, she received permission from the 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 did not comment on this information.