Russian insurer RESO considers IPO in April

21 March 2018 — Vlad BOLDIJAR
Russian insurer RESO is considering an initial public offering (IPO) in April, wrote Reuters quoting two banking sources.

"RESO has picked Bank of America Merrill Lynch (BofA), Citibank, VTB Capital, Sberbank CIB, Renaissance Capital, Deutsche bank and Societe Generale among the banks to arrange the issue", announced Reuters.

If the IPO goes ahead, the company would be Russia's first publicly traded insurance company.

The Russian insurer is majority owned by the Sarkisov family through a number of companies, as well by French insurer AXA which acquired a 36.7% stake in the company for EUR 810 million in 2008.

Currently there are no available details about the prepared IPO: "RESO did not reply to a Reuters request for immediate comment."

Last year 2017, RESO reported gross written premiums of RUB 89.33 billion (~EUR 1.3 billion), being from this point of view, the third largest insurer in the country.

Share |