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VTB refused to sell Rosgosstrakh

VTB Bank postponed the sale of the Rosgosstrakh insurance company due to disagreement in price with potential buyers. Andrei Kostin, the VTB group executive, spoke about this in his interview with RBC. According to him, the insurance asset will remain within the VTB perimeter and the group will develop it independently.
VTB refused to sell Rosgosstrakh

“We were not satisfied with the price of the offers made; we had paid the Central Bank much more. Therefore, we will develop it ourselves for now,” Kostin noted.

Rosgosstrakh, the oldest insurance company in Russia (operating since 1921), became the property of VTB together with the Otkrytie group at the end of 2022. The new owner almost immediately announced its intention to sell the asset due to its “mismatch” with the group’s main banking business.

Source: https://www.asn-news.ru/news/84155

Photos are from open sources.

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