Ingosstrakh responds to PPF alleged fraud developments
Mikhail Volkov, deputy chairman of the board of directors at OJSC Ingosstrakh has responded in a statement to the ongoing PPF fraud case.
He said: "Judging from reports, PPFI representatives' attempted to bribe highly placed Russian officials in the autumn of 2007 in order to resolve the conflict over a block of shares in Ingosstrakh may have been at issue."
He added: "Such actions would be outside the legal framework and the ethics and standards of corporate governance. They are all the more surprising against the backdrop of totally ungrounded accusations and reproaches by members of the OJSC Ingosstrakh board of directors representing PPFI and leveled at other shareholders and the insurance company's management for allegedly violating corporate governance standards.
"As a result, requests have been sent to the PPFI representatives on the OJSC Ingosstrakh board of directors to clarify the situation described in Kommersant. An approach to the oversight and regulatory bodies regarding indications that PPFI's actions violated acting Russian civil and criminal law is also being considered."
Ingosstrakh provides insurance and reinsurance products. It offers motor insurance, property insurance, and medical insurance products. The company was founded in 1947 and is based in Moscow, Russia.
Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
To access these options, along with all other subscription benefits, please contact info@postonline.co.uk or view our subscription options here: https://subscriptions.postonline.co.uk/subscribe
You are currently unable to print this content. Please contact info@postonline.co.uk to find out more.
You are currently unable to copy this content. Please contact info@postonline.co.uk to find out more.
Copyright Infopro Digital Limited. All rights reserved.
As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (point 2.4), printing is limited to a single copy.
If you would like to purchase additional rights please email info@postonline.co.uk
Copyright Infopro Digital Limited. All rights reserved.
You may share this content using our article tools. As outlined in our terms and conditions, https://www.infopro-digital.com/terms-and-conditions/subscriptions/ (clause 2.4), an Authorised User may only make one copy of the materials for their own personal use. You must also comply with the restrictions in clause 2.5.
If you would like to purchase additional rights please email info@postonline.co.uk
More on Claims
Ecclesiastical claims approach under fire from abuse survivor
A sexual assault survivor has questioned why Ecclesiastical is refusing to pay a claim for a recent attack when a previous, similar claim he made was accepted and settled by the insurer more than a decade ago.
Why shipbuilding insurance is making waves in marine risk
Shipbuilding insurance, once a niche part of marine cover, is now expanding rapidly. Fiona Nicolson unpicks the complex projects, new technologies, and sustainability trends that are reshaping global ship construction and the risks insurers must navigate.
Domestic & General snapped up by US firm
Domestic & General has been acquired by US-based insurance company Asurion, with the deal expected to close in mid-2026.
Big Interview: Donna Scully, Carpenters Group
Donna Scully, director and co-owner of Carpenters Group, discusses with Insurance Post the challenges of her upbringing and its positive impact in ensuring both her business and personal causes are approached with kindness.
Which? super-complaint shows insurance is a race to the bottom
James Daley, managing director of Fairer Finance, argues Which’s super-complaint lays bare long-standing problems in policy quality, claims performance and comparison-site competition and pushes for better purchase information to halt the industry’s slide toward a race to the bottom.
Carpenters Group open to private equity investment
Carpenters Group is open to private equity investment after over 30 years of bootstrapping, according to director and owner Donna Scully.
Carpenters’ Scully urges no government ‘gaslighting’ in whiplash review
Donna Scully, director and owner of Carpenters Group, has called for the government to avoid “gaslighting” the industry in its whiplash review consultation.
Video Q&A: Shift Technology’s George Robbins on Agentic AI and claims transformation
In the latest Insurance Post video we caught up with Shift Technology’s head of UK, Ireland and Nordics George Robbins to discuss the key areas that insurers need to consider when thinking about using Agentic AI in claims transformation.