Renaissance Insurance Group announces a change in its shareholder structure
25 May 2021
As a result of a transaction completed on 20 May 2021, the Blagosostoyanie pension fund is no longer a Renaissance Insurance Group shareholder.
New Renaissance Insurance Group shareholders include partners of the international Sputnik Group, Millhouse shareholders, as well as Invest AG and other minority shareholders.
The new shareholders’ ownership stakes are as follows: GRANO LLC, 9.99%; Invest AG LLC, 9.55%; Ob Capital LLC, 4.77%; and A. Gorodilov, 4.33%.
The ownership stake held by Sputnik Group and its partners increased to 59.28%. The ownership stake belonging to the Baring Vostok investment fund did not change.
The strategic interest of Sputnik Group, Baring Vostok and the new shareholders is aimed at the further successful development of Renaissance Insurance Group’s business and at increasing its economic potential.
“I am genuinely delighted about our new partners. Together, we see excellent potential to develop the company and bolster its leadership positions as well as new opportunities for significant growth – organically and through M&A. I would like to thank the management of the Blagosostoyanie pension fund for their contribution to our fruitful collaborative efforts in years past”, said Boris Jordan, President of Renaissance Insurance Group.