Raiffeisenbank and the Austrian insurance group Uniqa signed an agreement to sell 100 percent of the shares of the insurance company Raiffeisen Life to the Russian insurance company Renaissance Life. It has been reported fax referring to the press services of companies.
Uniqa is 75% owned by Raiffeisen Life and the other 25% is owned by Raiffeisenbank. The Austrian group plans to withdraw completely from the Russian market after the sale of its assets in Russia.
Renaissance Insurance confirmed that they are negotiating the acquisition of Raiffeisen Life and expect to complete the deal by the end of 2022 after receiving regulatory approvals, the agency said.
According to sources, Renaissance Insurance was originally planned to acquire 100% of the shares. The process can take place in two stages.
Raiffeisen Life ranks 46th in the rating of Russian insurance companies in terms of fees. “Renaissance Life”, on the other hand, ranks 12th in the same ranking. calculated RBC.
In early August, Raiffeisenbank’s deferred The way out of Russia.
Previously in the State Duma made Draft law on compulsory state insurance of volunteers.