On appointment of provisional administration to insurance company

The Bank of Russia took a decision to appoint a provisional administration to the Insurance Company Promstrakhreserv, limited liability company (registration number in the unified state register of insurance agents is 3497, location: Bld. 1, 4 Storozhevaya Street, 111020 Moscow, TIN 7744000373, PSRN 1027700005651, hereinafter the Company) for a term of six months.

The powers of the executive bodies of the Company are suspended.

The provisional administration is appointed to implement measures aimed at restoring the solvency of the Company and addressing problems under applicable Russian legislation.

Georgy A. Komarov, a receiver (mailing address: p/o box 17, 127473 Moscow), member of the non-profit partnership Moscow Self-Regulating Organisation of Professional Receivers (address: 5 Vishnyevaya Street, 125362 Moscow), has been appointed as a head of the provisional administration of the Company.

The Bank of Russia has sent representatives of its Insurance Market Department to exercise control over the activities of the Company and provisional administration.

During the work of the provisional administration, the Company takes out insurance contracts and fulfills its obligations under insurance contracts in compliance with the requirements of Russian legislation, an applicable licence, the provisions of insurance contracts and insurance rules.

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25.12.2014 00.00.00