OREANDA-NEWS. Interdistrict Inspectorate of the Federal Tax Service of Russia for the city Moscow No. 46 has registered amendments to the Articles of Association of Ingosstrakh Insurance Company in respect of the increase of the authorized capital to RUB 17.5 bn. This is a seven-fold increase of the share capital of the company, from RUB 2.5 bn to RUB 17.5 bn. This is the largest amount of share capital in the Russian insurance market.

Last week, the Bank of Russia registered the report by Ingosstrakh Insurance Company on the issue of shares. The issue consisted of 2.5 billion of securities with the par value of RUB 7. The placement of securities was effected by conversion of the existing shares into shares of the same category with a higher face value. The issue of shares has not resulted in any changes to the shareholding structure of the company and the proportion of the shares owned by particular shareholders.

To recall, on May 28, 2014, the Meeting of Shareholders Ingosstrakh Insurance Company made a resolution to increase the company's registered capital to RUB 17.5 bn by changing the nominal value of shares.