RENAISSANCE LIFE INSURANCE

The project consists of a financing package of up to USD 40mm to Renaissance Life Insurance group, an insurance group operating life insurance and pension businesses in Russian Federation and Ukraine. 

The transaction will support the growth of the group, and will contribute to the expansion of the life insurance and pension sector as a whole.

 

The project promotes the development of, and competition in, the provision of risk-bearing life Insurance products (where current penetration is significantly less than 1% of GDP). Furthermore the project supports the implementation of a comprehensive private pension reform and promotes further development of the capital markets in Russian Federation.

Renaissance Life Insurance, a limited liability company formed in Russia, joint-venture of EBRD and Sputnik Group Limited (Bahamas) where EBRD owns 30%.

Renaissance Life Insurance Ukraine, a private joint stock company formed in Ukraine, another joint-venture of EBRD and Sputnik Group where EBRD owns 30%.

Renins Life Limited, a limited liability company registered in Cyprus, a holding set up to by Sputnik Group to control its life insurance and pension subsidiaries

Sputnik Group Limited (Bahamas) is the project companies’ ultimate parent company and also operates in the Russian non-life insurance industry via its subsidiary Renaissance Insurance Group.

Up to USD 40 Million

USD 40 million.

The environmental risks associated with Renaissance Life Insurance’s operations are low. However, in order to mitigate environmental impact Renaissance Life Insurance conducts its life insurance operations (both underwriting and investment activities) in accordance with the EBRD’s Guidelines for Investments in the Insurance Sector.

None.

Austin Kimm, President
Renaissance Life Insurance Group
7, building 22, Derbenevskaya naberezhnaya
Moscow 115114

Tel: +7 495 981 2 981
Fax +7 495 589 1867