OREANDA-NEWS. The Annual General Meeting of Shareholders of Ingosstrakh Insurance Company was held on the 28th of May this year. The Meeting decided to increase the authorized capital of the company to RUB 17.5 bn by increasing the nominal price of shares. The increase in share capital will be effected at the cost of retained earnings in the amount of RUB 15 bn. This is the highest amount of share capital in the Russian insurance market.

The Meeting approved the annual report on the activities of Ingosstrakh Insurance Company in 2013, the balance sheet and financial statement of the company for the past year. The Shareholders' Meeting decided not to pay dividends and keep 100% of Ingosstrakh Insurance Company's net income from the results of its activity in 2013, in the amount of RUB 518.7 m, undistributed, as ploughed back earnings.

- Shareholders of Ingosstrakh Insurance Company elected the Board of Directors that consists of nine people:

- Aragona Giancarlo;

- Oleg Samuilovich Vikhansky;

- Alexander Valerievitch Grigoriev;

- Igor Sergeyevich Ivanov;

- Calegari Giorgio;

- Artyom Stanislavovich Leontyev;

- Gulzhan Talapovna Moldazhanova;

- Valery Aleksandrovich Khokhlov;

- Marina Viktorovna Chekurova.

The Meeting approved KPMG CJSC (Moscow) as the auditor of Ingosstrakh Insurance Company. The participants of the shareholders meeting elected members of the Audit Commission and adopted the new version of the Charter.

Shareholders approved the list of associations of commercial organizations in which Ingosstrakh Insurance Company intends to participate and those to withdraw from membership, and also approved interested party transactions.