OREANDA-NEWS. By its order No. OD-1588, dated 7 July 2015, the Bank of Russia took a decision to appointa provisional administration to the reinsurance company Sotis, limited liability company (Moscow) from 7 July 2015.

The decision to appoint a provisional administration was taken due to the suspension of the Company's reinsurance licence (Bank of Russia Order No. OD-1236, dated 3 June 2015).

The powers of the executive bodies of the Company are suspended.

Igor A. Gulakov, member of the non-profit partnership self-regulated interregional public organisation Association of Crisis Managers (Samara) has been appointed as a head of the provisional administration.