RUSSIA: VTB Life Insurance to transfer voluntary insurance portfolio to SOGAZ-Life

26 September 2019 — Marina MAGNAVAL
VTB Life Insurance will transfer its voluntary life insurance and personal insurance contracts to SOGAZ-Life in 2019, ASN reports, with reference to the information published on September 20 by the Bank of Russia.

In November 2018, SOGAZ Group acquired 100% of VTB Life Insurance. During the first stage of this transaction, VTB Insurance Group companies will keep working under their own brand, and as soon as integration is completed - under SOGAZ brand.

According to the 1H2019 statistics of the Bank of Russia, VTB Life Insurance ranked 13th on the market in terms of GWP. While SOGAZ-Life ranked one position lower - 14th.

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