Date: 8 months ago   Category: Finance

VTB expects to close the transaction on sale of insurance business to Sogaz until the end of the year — Rambler News Service


VTB expects to close the transaction on sale of insurance business to the Sogaz group until the end of the year, the head of credit institution Andrey Kostin has told journalists. "With Sogaz the same, we in principle have reached all (arrangements. — RNS). I think, in September legal documents will be signed, all procedures are carried out, I think, until the end of the year we plan to close the transaction" — he has told. Earlier it was reported that the VTB Group will receive 10% in insurance company, joint with Sogaz. It was noted that association will happen on the basis of Sogaz. VTB declared sale VTB Insurance in May of this year. "It seems to me, it is necessary to consolidate the sector. It seems to me, it is necessary to create the Russian champions in this or that branch. And integration just of retail strong business of insurance with strong very corporate insurance business of Sogaz seems to me ideal synergy", – the head of VTB said.

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