New player on the Russian life insurance market

7 February 2018 — Marina MAGNAVAL
Financial group BKS decided to create its own insurance arm - BKS Life Insurance. Andrey DROZDOV, former Head of Sberbank's digital business department, will be the Director of new insurance company, according to ASN news agency.

"Within next 2-4 years we expect an increase of the demand for investment products," - says Edvard GOLOSOV, the Head of BKS Capital. Investment insurance means long-term products of investment and universal life insurance.

BKS Group is an absolute leader on Moscow stock, derivatives and foreign exchange markets with a turnover share of 26,5%. The decision to establish a life insurance company was made due to the Group's plans to expand into the insurance investment products field.

Financial group BKS has been working in the Russian stock market since 1995. The group consists of the Russian biggest broker, investment bank, retail bank, 3 management companies, branch network and agencies in more than 100 cities in Russia, representative offices on Cyprus, in USA and Great Britain. The Group provides services to more than 273 000 of private and corporate clients. Total number of employees - more than 3000.

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