OREANDA-NEWS. Sberbank of Russia announces the launch of a new subsidiary - Sberbank Insurance, which is headed by Hannes Shariputra Chopra. The new company has received a licence to provide voluntary property insurance (Licence SI No. 4331 dated 08.10.2014), and also to provide voluntary personal insurance, excluding life insurance (Licence SL No. 4331 dated 08.10.2014). The new company's priority will be servicing Sberbank clients by selling insurance policies in all of the bank's branches. The sale of insurance products will begin on October 13, 2014.

Hannes Shariputra Chopra was born on November 10, 1966 in Bonne (Germany). He graduated from the Albert Ludwig University of Freiburg with a master's degree in Economics. Previously, Mr Chopra held senior management posts at Allianz AG, ROSNO, Allianz Eurasia, and CKW-Consult.

"We are continuing to expand our non-banking operations in order to provide clients with a complete range of investment products, and also to add value to the bank," commented Denis Bugrov, Senior Vice-President of Sberbank of Russia. "This new company, Sberbank Insurance, will concentrate on the banking insurance market, one of the most beneficial segments of the Russian insurance industry. In addition, the company will generate innovative and reliable products that meet the needs of every Sberbank client. I am certain that Hannes Chopra's team will contribute to the development of Russia's financial and insurance markets."

In 2012 Sberbank launched its own life insurance company, which in 2014 was renamed Sberbank Life Insurance. On June 16, 2014 the company Sberbank General Insurance was registered and then renamed Sberbank Insurance in July this year.