Hole in "Rosgosstrakh" caused the theft "from top to bottom"

25 December 2017

Uncover the truth tried, the Chairman of the Board Mikhail Zadornov

"Rosgosstrakh" for several years announces record losses. By the end of 2015, the largest Russian insurance company worked in the mine for 5 billion rubles. Then it was explained by accession of LLC "Rosgosstrakh" to PJSC "Rosgosstrakh". In 2016, the net loss according to IFRS increased to 33 billion, and the main reason was the increase of payments on OSAGO. This was substantiated by the loss for the first half of 2017, which amounted to 20.9 billion

Last week, the Bank of Russia became the indirect owner of 95,96 % of shares of "Rosgosstrakh". A month earlier the Chairman of the Board of Directors became the head of VTB24 Mikhail Zadornov. In an interview with the newspaper "Kommersant" he has revealed the alleged reasons for the financial problems of the insurance company.

"I — "Rosgosstrakh" got burned by having a unique position in the market, managed on behalf of its owners and management have absolutely nothing to do for ten years. Neither terms of IT platform, technologies and network management who are in a terrible state, nor from the point of view of basic principles of control. In "Rosgosstrakh" besides, from top to bottom was dominated by theft. And then we say that the company got burned on the CTP?! Maybe she just got burned on what model of business does not correspond to date, and was never intended to bring to shareholders a legitimate profit?!," — said Mikhail Zadornov.

The Chairman of the Board of Directors "Rosgosstrakh" sure to make the company a profit of "without major regulatory changes in the market impossible".

Two months ago, analysts ACRES noticed that the average indemnity of Rosgosstrakh OSAGO in the first half of the year was 70% above the market average and reached almost 100 000 roubles (the average payout is 57.6 thousand). The company explained that the work "toxic" regions, operated by scammers-avtoyuristy. At the same time, a number of experts are inclined to think that this figure is associated the dishonesty of individual employees.

Earlier we talked about the fact that the market for insurance may leaving several companies. The Russian Union of motor insurers (RAMI) noted that the average size of insurance compensation for the first ten months of 2017 increased by 15 %. At the same time, the average premium fell by 3 %. According to analysts, is the fall in the margin of this business that can lead to a reduction in the number of companies in this segment.