OREANDA-NEWS. July 6, 2011. On Thursday, June 16, 2011 OJSC SOGAZ held the Annual General Meeting of shareholders in Moscow.

A report on the main results of the company in 2010 was presented by Sergei Ivanov, Chairman of the Management Board of OJSC SOGAZ. He particularly noted that SOGAZ’s growth had been above market average in almost all areas of its activity. The fees increased by 22% and reached 49.9 billion roubles. In terms of this figure, the company has ranked second among Russia’s insurers for the first time in its history. The aggregate fee collected by SOGAZ amounted to 9% of the market share, and 10.7% for voluntary insurance, which is the best result among insurance companies. SOGAZ retained its status as the most efficient and profitable insurer in the country. The company’s net yearly profit amounted to 5.3 billion rubles – a 26% increase year-on-year.

A new Board of Directors of SOGAZ was approved by the shareholders for 2011-2012. It included A.B. Miller, Chairman of the Management Board of OJSC Gazprom; N.N. Dubik, Member of the Board of OJSC Gazprom, Head of the Legal Department of OJSC Gazprom; S.S. Ivanov, Chairman of the Management Board of SOGAZ; M.A. Klishin, First Deputy Chairman of the Management Board of OSJC AB Russia; A.V. Kruglov, Deputy Chairman, Director of Financial and Economic Department of OJSC Gazprom; D.A. Lebedev, CEO of AB Russia, and M.B. Semenov, General Director of Air Group.

The shareholders heard the report of the Audit Commission and approved the Annual Report of OJSC SOGAZ, as well as the annual financial statements of the company for 2010.

A resolution was passed on the distribution of 17% of the company's 2010 net profit as dividends among the shareholders of OJSC SOGAZ. 5% of the net profit will be used to increase the reserve fund of the company. It was decided to leave the rest of the net profit at the disposal of SOGAZ.

CJSC PricewaterhouseCoopers Audit was selected as the auditor of OJSC SOGAZ in 2011.