Basic Element, Nafta-Moscow and Millhouse Capital have begun dividing the assets they purchased on a parity basis. As Vedomosti has learned, Basic Element has received full control over Ingosstrakh, and two of its partners will soon leave the insurer's shareholders. According to Vedomosti, Basic Element representatives currently hold six out of nine seats on Ingosstrakh's board of directors.

In October, a triumvirate of investors acquired Ingosstrakh as part of a holding that also included Avtobank, Rossiya Insurance Company, Ingosstrakh-Soyuz Bank, and the NOSTA metallurgical plant. For all of these assets, previously considered to be owned by businessman Andrei Andreev, Bazel, Millhouse, and Nafta-Moskva paid only $90 million, while the price of Ingosstrakh alone, according to the Ministry of Property, is more than $160 million. Andreev continues to challenge the deal, claiming that his business was stolen.

Meanwhile, the new owners are quietly dividing up what they bought. A source close to the management of the insurance company told Vedomosti that Oleg Deripaska's company Basic Element now controls Ingosstrakh. This information was confirmed by a source close to the shareholders of Nafta-Moskva. And the head of the external relations department of Basic Element, Alexey Drobashenko, told Vedomosti yesterday that his company intends to develop the insurance business. According to a source close to the management of Ingosstrakh, an agreement was reached back in April that Nafta-Moskva and the English Millhouse Capital, which manages the assets of Sibneft shareholders, would withdraw from the authorized capital of Ingosstrakh. Vedomosti's source believes that Basic Element will formalize control over the company without even waiting for the new issue of its shares, which was approved by the shareholders' meeting this week. As a result of the issue, the authorized capital of Ingosstrakh will grow from 100 million to 500 million rubles, and Andreev, even if he gets back the shares that he previously owned, will remain only a minority co-owner of the company. The source explained the decision of Nafta-Moskva and Millhouse to withdraw from the capital of Ingosstrakh by the fact that this is not their core business. Deripaska, according to the insurers, has recently made no secret of his interest in their market. In the board of directors of Ingosstrakh, elected at the last meeting of shareholders, Basic Element increased its representation from three to six people. Nafta-Moskva and Millhouse have one vote each. In addition, the board includes Ingosstrakh CEO Vyacheslav Shcherbakov. However, Basic Element has not yet confirmed that the company has already received a controlling stake in the insurance company. "All assets and shares remain with the existing shareholders, and no one violated the investigation's ban [on the disposal of shares]," says Drobashenko. As is known, 84% of Ingosstrakh shares are under arrest as part of a criminal case initiated by the Investigative Committee of the Ministry of Internal Affairs based on Andreev's statement. However, Drobashenko says that the arrest has been appealed in court and a decision could be made as early as June. Drobashenko also claims that Basic Element currently has four seats on Ingosstrakh's board of directors, not six: board members Ilya Borzilov and Andrey Zagorsky, according to him, now work for a company called Finansresursholding. However, a Vedomosti correspondent recently called Zagorsky on Basic Element's phones.

A representative of Basic Element admits, however, that the company has been "transferred the function of the main managers of Ingosstrakh." "We will strive to increase the capitalization, profitability and transparency of the company," says Drobashenko. It is not known exactly what the triumvirate members will do with the other assets. According to Drobashenko, Basic Element is interested in Ingosstrakh-Soyuz Bank as Ingosstrakh's support bank. The other companies, judging by everything, will have to change owners again. For example, Avtobank was transferred to the NIKoil financial group at the beginning of the year.

WHO MANAGES INGOSSTRAKH?

The current board of directors of Ingosstrakh: Ilya Borzilov (?), Tatyana Dubrovskaya (Basic Element), Andrey Zagorsky (?), Elena Komissarova (Basic Element), Oleg Mozgunov (Basic Element), Daniil Osey (Nafta-Moscow), Andrey Osipov (Millhouse Capital), Stalbek Mishakov (Basic Element), Vyacheslav Shcherbakov (Ingosstrakh).

Old advice: Tatyana Bashmakova (Nafta-Moscow), Ilya Borzilov (Basic Element), Yuri Golubovsky (Millhouse Capital), Igor Grudeev (Nafta-Moscow), Tatyana Dubrovskaya (Basic Element), Andrey Zagorsky (Basic Element), Daniil Osey (Nafta-Moscow), Andrey Osipov (Millhouse Capital), Vyacheslav Shcherbakov (Ingosstrakh).

Abramovich gave Ingosstrakh to Deripaska