OREANDA-NEWS. June 03, 2010. The annual general meeting of Ingosstrakh shareholders was convened in Moscow on May 28, 2010. It was decided to allocate RUR 130 million (8.05 % of company net profits) to payment of dividends on Ingosstrakh shares, and to retain the undistributed amount of RUR 1,485,098,000 (91.95% of net profit) as a capitalized profit. The shareholders of Ingosstrakh elected nine members of the Board of Directors:

1.         Daria Vetrova;

2.         Oleg Vikhanskiy;

3.         Mikhail Volkov;

4.         Irina Garina;

5.         Andrey Elinson;

6.         Marek Mastnik;

7.         Dmitry Neyman;

8.         Ekaterina Nikitina;

9.         Valery Khokhlov.

The shareholders decided on the final amount of remuneration to be paid to the members of the Board of Directors for performing their duties during the part of 2010 and determined the maximum amount of remuneration of the new members of the Board of directors.

The shareholders heard the report of the General Director, the Chairman of executive committee of Ingosstrakh Alexandr Grigoriev about the results of company financial activity in 2009. It was noted during the meeting that disregarding severe macroeconomic situation the company and its management succeeded in achieving the goals set by the Shareholders and the Board of directors. According to Federal Insurance Supervision Service reports, at the end of 2009 Ingosstrakh holds the second place in the terms of direct insurance premiums (except for obligatory medical insurance). According to the size of voluntary liability insurance the company holds the first place. The market share of Ingosstrakh (except for obligatory medical insurance) increased to 8.7% compared to 7.6% in the previous year. For some business areas the market share of Ingosstrakh increased even more considerably, specifically, for CASCO (comprehensive (motor hull insurance) insurance) - from 12.2 % to 15.7%. Ingosstrakh ranks among the leaders in key insurance domains, such as: property and liability insurance for corporate entities, voluntary car insurance, special risks insurance.

ERNST AND YOUNG LLC (Moscow) was approved as the auditor of Ingosstrakh for 2010. The participants of the meeting elected the members of audit committee; approved the 2009 annual report of Ingosstrakh; 2009 balance sheet and profit and loss statement of the company; Articles of Association and Regulation of the Board of directors and of the general meeting of Ingosstrakh shareholders as amended.

The shareholders authorised the transactions with the related parties and approved the list of associations of trade companies, the member to which Ingosstrakh plans to become, including the Russian Nuclear Insurance Pool and the Russian Association of Marine Insurers.