Vadim Yanov, chairman of the board at Sogaz, is reported to have resigned today. Our sources say the resignation looked more like a lay-off - recently shareholders of Sogaz have been quite unhappy with the top manager. The new chairman is Sergey Ivanov, son of Russia's deputy prime-minister Sergey Ivanov.
The re-shuffle means two things for Russian insurance. For one, the newly found connections in Kremlin technically very much increase the lobbying power of the market (whether Ivanov the junior indeed will be willing to contribute to development of the country's insurance segment, is another question). Secondly, Sogaz gets a bunch of new corporate clients as companies controlled by Kremlin and semi-Kremlin structures will be very much "encouraged" to purchase coverage from the insurer.
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