Results of provisional administration-conducted inspection of insurance company JSC Insurance Group Spasskiye Vorota-M

The provisional administration¹ to manage JSC Insurance Group Spasskiye Vorota-M (hereinafter, the Insurer) established that the Insurer’s officials conducted operations to divert funds through the sale of a land plot without receiving payment, the acquisition by the Insurer of overpriced real estate items, the sale of transport vehicles on non-marketable conditions, and also detected the shortage of strictly controlled forms.

As the Bank of Russia reasonably presumes that the Insurer’s officials were engaged in financial operations suggestive of criminal offence, the Bank of Russia submitted relevant information to the Prosecutor General’s Office of the Russian Federation and the Investigative Committee of the Ministry of Internal Affairs of the Russian Federation for consideration and procedural decision-making.

¹ The provisional administration to manage JSC Insurance Group Spasskiye Vorota-M was appointed by Bank of Russia Orders No. OD-2050, dated 10 December 2020, effective from 11 December 2020.

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30.06.2021 17.00.00