RUSSIA: ROSGOSSTRAKH registered its own life insurer

On June 13 one of the biggest Russian insurers - ROSGOSSTRAKH registered its own life insurer - RGS Life insurance, informed ROSGOSSTRAKH. The new company will start selling policies in the fourth quarter this year.

New company's products will include universal, risk and investment life insurance, accidents insurance, medical and pension insurance, and others. Its charter capital is RUB 240 million. Licenses of the Central Bank will be obtained in the nearest future, announced the General director of ROSGOSSTRAKH Nikolaus FRAI. Maksim SHEPELEV is mentioned as the General director of the new life company.

Earlier ROSGOSSTRAKH group had a life insurer RGS Life, but in 2017 that company was not included in the transaction on transfer of control over ROSGOSSTRAKH to the bank OTKRYTIE. In April 2018 cooperation between RGS Life and ROSGOSSTRAKH stopped. On June 6 ROSGOSSTRAKH filed a lawsuit against RGS Life in the amount of RUB 116 billion for illegal use of trademark. RGS Life already announced some time before about possible name change to CAPITAL Life.

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