On June 30, 2022, the Annual General Meeting of Shareholders (AGMS) of Renaissance Insurance Group (MOEX: RENI) was held in the form of absentee voting.
05 July 2022
The Shareholders have signed off the financial statements and annual report of Renaissance Insurance Group for 2021.
In accordance with recommendations of the Board of Directors, the Shareholders have made a decision not to pay dividends for 2021. The amount of 5% of 7.6 billion rubles of net profit for the year (Industry Accounting Standards) shall be allocated to the Company's reserve fund; the remaining amount will be recorded on the balance sheet. This resolution shall secure a sufficient safety margin for the company and is in line with approaches of financial and insurance companies in relation to allocation of profit for the past financial year. In the future, the company plans to resume dividend payment practice.
The shareholders have signed off new membership of the Board of Directors of the Renaissance Insurance Group consisting of nine directors, two of which are independent.
In addition, the Shareholders have appointed AUDIT TECHNOLOGIES AND SOLUTIONS - Audit Services LLC (former Ernst & Young LLC) as the auditor of the Renaissance Insurance Group for 2022.
Over twenty thousand individuals and more than four and a half thousand legal entities are shareholders of the Renaissance Insurance Group. The proportion of shares in free float (free-float) is around 21%.