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International

Insurer Sogaz looks to buy bank captive valued at $5 billion

November 22, 2017 Reprints

Russia-based Insurance Company of Gaz Industry Sogaz is considering acquiring local counterpart VTB Insurance Ltd. to increase its market share, Xprimm.com reported citing sources. VTB's value is estimated to be 300 billion Russian rubles ($5 billion), the sources said. VTB Insurance is a captive insurer which mainly undertakes business provided to by VTB Bank P.J.S.C.

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Insurer Sogaz looks to buy bank captive valued at $5 billion

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