OREANDA-NEWS. On June 25, 2007 the annual general meeting of shareholders of OJSC SOGAZ was held. The meeting heard the report of V.E. Yanov, Chairman of the OJSC SOGAZ Management Board, on the main results of 2006 and strategic objectives for 2007, reported the press-centre of SOGAZ.

The report, among other things, noted that in 2006 SOGAZ became one of the three leaders in almost all classes of insurance and dramatically increased its market share. OJSC SOGAZ collected 23.5 billion roubles’ worth of insurance premium and in this respect has taken second place among all Russian insurers, according to the information provided by the Federal Insurance Supervision Service. The number of contracts signed in 2006 was 539,000, cover thereunder reaching 11.2 trillion roubles. Profit before tax increased 2 per cent to 2.8 billion roubles and net profit increased 6 per cent to 2 billion.

Under the agenda, the meeting approved the annual report, the balance sheet, and the profit and loss account of the company for 2006. Net profit totalled 2.037 billion roubles for OJSC SOGAZ last year. The meeting of shareholders passed a decision to spend 608 million roubles (30% of net profit) to pay dividends for 2006. The dividends will be paid in the amount of 65 roubles per ordinary share (including taxes payable by shareholders). A decision was made to reserve the remainder of the profit generated last year for OJSC SOGAZ.

Besides, the meeting approved CJSC PricewaterhouseCoopers Audit as the auditor of OJSC SOGAZ for 2007.

The shareholders also re-elected the Board of Directors of the company which included: A.B. Miller, Chairman of the Management Board of OJSC Gazprom; A.V. Kruglov, Deputy Chairman of the Management Board of OJSC Gazprom; K.A. Chuychenko, a member of the Management Board of OJSC Gazprom; D.A. Lebedev, Director General of OJSC JSB Russia; M.A. Klishin, First Deputy Director General of OJSC JSB Russia; S.V. Kolesnikov, Vice-president of Petromed Holding Company LLC; and V.E. Yanov, Chairman of the Management Board of OJSC SOGAZ.