01.03.2018

For sale offered a block of shares of one of the leading insurance companies – SIC Yugoriya

On 30 May the Auction House of the Russian Federation (AHRF) will hold biddings for the sale of 100% block of shares of JSC Yugoriya State Insurance Company from the Forecast Privatization Program for 2018-2020.
The sale is carried out on behalf of the Department of Property of Khanty-Mansi Autonomous Area-Yugra in accordance with the Contract of 25 December, 2017.
The biddings will take place in the AHRF Central Office at the address: 5B (auction hall), Grivtsova Lane, Saint Petersburg.
The starting price – 2.89 billion rubles.

SIC Yugoriya has worked in the market since 1997 and carries out activity on 21 types of insurance and reinsurance. Currently the company works in 50 regions of Russia and has 73 regional branch offices and more than 200 agencies. A single shareholder of the Company is Khanty-Mansi Autonomous Area-Yugra.

Total revenue for the first 9 months of 2017 was 367.6 million rubles, the reserves were made for the amount of 7.9 billion rubles. According to accounting reports for 2016 a net profit of the Company was 182.9 million rubles.

The Company also includes the JSC SIC Yugoriya-Life subsidiary structure.
“Yugoriya is large insurance company, well proved itself in the market. A wide geography of the branch network and large client base (for today the Company has nearly 2 million clients) can be interesting for the other participants of the insurance market. In fact, an investor purchases a functioning business, with the help of which he will be able to strengthen his positions in the market of insurance services”, – comments Anzhelika Imanova, Deputy Director General of the AHRF.

For detailed information about the Object of sale please see the website of the Auction House of the Russian Federation (AHRF)