OREANDA-NEWS  On 08 December was announced, that the Annual General Shareholders Meeting of IJSC Ingosstrakh was held in Moscow on November 18, 2008. The shareholders elected members of the Internal Audit Board, approved the company’s 2007 report, statement and P&L report for the previous year. The shareholders also approved a number of related party transactions and the list of commercial entities where Ingosstrakh intends to participate or from where it intends to withdraw. Ernst & Young (Moscow) was approved by the insurer as the auditor for Year 2008. The annual general shareholders meeting resolved to use RUR 130 mln (6.26% of the company’s net profit) as dividends on the company’s shares for Y2007, the balance of the net profit (93.74%, or RUR 1,945,449,000) to be capitalized. The shareholders of IJSC Ingosstrakh elected the Board of Directors consisting of nine people, as follows:

Vikhansky Oleg Samuilovitch;

Volkov Mikhail Yurievitch;

Garina Irina Radamirovna;

Goglenkov Sergey Alexandrovitch;

Grigoriev Alexander Valerievitch;

Zinovieva Olga Nikolaevna;

Protoklitov Sergey Alexandrovitch;

Sedykh Alexander Borisovitch;

Tsapin Alexander Yurievitch.

Therefore, the newly elected Board of Directors now includes six representatives of the insurer’s majority shareholders, Basic Element, and three representatives of the insurer’s minority holders (I.R. Garina, A.B. Sedykh and A.Y. Tsapin).