“ We have created the company which costs now hundred millions dollars " from zero;
Interview to general director SK “ the Consent “ Igor Zhukom
in the Spring of this year the general director of the insurance company “ the Consent “ Igor Zhuk has sold the three-percent share in it to Michael Prokhorov. G - n the Bug asserts that this sale does not mean that it has lost interest to this insurer. How it has come to the company, about what waited by Michael Prokhorov from realisation of its new strategy, IGOR the BUG tells to the correspondent daily to ELENA GRIGOREVOJ.
- Earlier you were engaged in scientific activity in aviation sector. Why you have decided to pass in insurance, having begun with work of the agent?
- very much it would be desirable to realise potential which has collected after MFTI and Academies Zhukovsky. I worked regarding new researches and workings out, and many of them have been frozen. Within several years I was engaged in inventions which went actually to a table. The part of my colleagues has gone abroad. And I have begun with wholesale trade in consumer goods - jackets, suits - in Moscow and regions, worked including as a shuttle, and in the market. Then in parallel was engaged in insurance, having learnt from owners SK “ Dion “ - the friends on institute - about possibility to pass in insurance. At first as the agent I ran on banks, offering services of the insurance company, and received from it small, on present times, commission fee - a maximum of 1 % from the award. In “ Dion “ I worked three years, having reached a post of the chief of department of marketing with a salary 500 dollars Then I became zamgendirektora in the small insurance company which is not present for a long time: “ the Building insurance company “ - one of 3,5 thousand the insurers working at that point in time in Russia.
- as you have come in “ the Consent “?
- I had a small business - I looked for the insurance companies for their subsequent sale. I have not succeeded in this business: has had time to sell one insurer for 40 thousand dollars Has earned as a result on the car, taking the ten-percentage fee in the form of second-hand “ the Zhiguli “ the seventh model. At that point in time many, similar to this insurer, the company developed under “ schemes “. Then prospered MMM and similar structures. In the insurance market insurance of credits, contributions was fashionable. For example, banks demanded to insure risk of a non-return of credits as business began with zero, and pledges were not. Borrowers of the credit simply paid 10 % from the credit to the insurer. Taking into account protection inflation was not any, and insurers were quickly turned off. Or, for example, the companies of type MMM had firms which insured contributions to them. Actually it was semilegal business, an easy deceit. I have quickly understood: Besides that I do not succeed in this business, but I still get to certain not too legitimate zone. In the end of 1994 I have received the offer to find the insurer and a command for “ Interros “. Without me have found cheaper - present “ the Consent “. To me have suggested to come to work in it as the hired manager. I thought not for long. “ Interros - the Consent “ has begun with six persons. In three years half of my colleagues has left it, having understood that it is more interesting to them to be engaged in other kinds of business. From six persons of the first set in “ the Consent “ remains two - I and my present assistant Valery Serov. Now in the company works about 3 thousand persons.
- in the spring you have sold the share in the company “ the Consent “. What sum of transaction was?
- Michael Prokhorov has redeemed approximately 9 % of shares at me and my colleagues. The transaction has been finished in the end of March - the beginning of April. The price on which shares have been redeemed, was not market. It represents, in my understanding, a bonus for work previous years during which time we have created the company which costs now some hundreds millions dollars from zero. Originally we were hired managers with whom have allocated an option that we could buy company shares “ the Consent “. At all increases in an authorised capital stock we did not bring money in the company, therefore our share of participation in the company has gradually decreased with 20 to 9 %. For me that I have left a share in “ the Consent “ about what does not speak. Versions that the Bug has sold the share because to it “ the Consent “ it is uninteresting - the incorrect information.
- to you offered posts in other insurance companies?
- I very much want to work with Michael Prokhorov. To me offered transition in the insurance companies and the companies of other kinds of activity. It is interesting to me to work in “ The consent “ therefore with hed - hanterami I did not conduct conversations. We have passed a way from the company which have bought for 25 thousand dollars, to the insurer who is known precisely by any person studying the Russian insurance market.
- that has changed for you as manager of the company after its transition to one owner?
- Now there is a coordination of plans for development SK “ the Consent “ for three years. I do not exclude that the motivational bonus program of participation in a company authorised capital stock will be entered. It is incorrect to speak, with whom from businessmen would be more comfortable to work. Both of them were for “ the Consent “ as the father and mum. For Prokhorov and Potanin “ the Consent “ till May of this year was not profile business which needed to be developed as it was required to group “ Interros - Oneksim “ and, in particular, “ to Norilsk nickel “. Unique difference of a present situation that for Michael Prokhorov “ The consent “ becomes profile business. It small in comparison with its other actives: “ the Consent “ not to compare to a share in “ Rusale “. But it is obvious that insurance business g - well is interesting to Prokhorov. The successful businessman who has taken place in metallurgy or electric power industry, has paid attention to in what he was engaged always, - the financial market. Michael Prokhorov is a lot of years was the first person in Oneksim Bank and Rosbank. Now, understanding that the financial markets, on the one hand, nedokapitalizirovany, and with another - will grow, he has paid attention on “ the Consent “.
- What there will be basic indicators of strategy “ the Consent “?
- Michael Prokhorov has set a problem for board of directors to create strategy “ the Consent “. Within two months we intend to finish strategy creation. We consult to a number of experts which I cannot name. There is a probability that we will transfer this function of the involved company, but now strategy we write. The company should cost not less than 1 mlrd dollars through two - three years. The annual volume gross - awards is planned at level also 1 mlrd dollars, profits - 50 million dollars According to our target instructions, the quantity of clients should be such that there were no three - five prevailing. Strategy will be aimed at formation of the company focused on the market presented in all territory of Russia. Now at “ the Consent “ the basic business - autoinsurance, as well as at many insurers. We plan to develop life insurance, property, responsibility.
- what plans concerning the company “ the Consent - Vita “?
- affiliated structure on life insurance we hold more likely as service. “ the consent - Vita “ the potential for life insurance above, than at other companies will grow in the price, because at us. The matter is that possibilities of corporate life insurance are essentially underestimated. The best agents now - an administrative resource and the enterprises which have trade unions.
- what company operates actives “ the Consent “?
- In the core. Though we work with UK Rosbank. At us very conservative policy. An order of 70 % of means is on deposits, accounts in fifteen banks: the Savings Bank, Gazprombank, VTB, Rosselhozbanke, Rosbank and others. Now the investment policy is less aggressive, than it would be desirable. We assume that we will have a investment block, or we will give management of these means for outsourcing. The main task on a transition period - not to spend in vain money of shareholders. Many our placings on deposits are connected with reception of business from bank. Therefore we always agree on the rigid rate from bank if it for the placing sum can give us the award on insurance of pledges, avtokasko and so on.
- According to prospective expenses “ Oneksima “ this year, the investment into development UK of Rosbank and SK “ the Consent “ will not exceed 500 million dollars What part from this sum will go in “ the Consent “ and on what purposes?
- Now at a growing portfolio for maintenance of the specification payment - abilities we are obliged to make a stock that nothing disturbed to award growth. For example, only in the first quarter the award “ the Consent “ has grown on 50 %. Michael Prokhorov has already brought 500 million rbl. in an authorised capital stock “ the Consent “. It is ready to invest in the company of 25-30 million dollars more this year.
- in the insurance market “ the Consent “ continue to consider keptivom. This point of view is how much true?
- In my opinion, opinion on the company “ the Consent “ as about keptive the incorrect. I responsibly declare that the company is not keptivom some years. On figures 2007 in ours port - fele a share of the award received from “ Norilsk nickel “ - 8 %. The Same situation with Rosbank. “ the consent “ - only one of 15 insurers working with it. Yes, from them we receive the greatest award from work with Rosbank. But it occupies 18 % from our gathering for 2007. Yes, we left bowels of the big business of two shareholders. But since 2004 we keptivom are not.
- whether correctly I understand that incorporated group “ the Consent “ does not exist any more?
- it included the companies which it was planned to lead to one ideology with “ the Consent “. Practically half from them has not accepted it. Therefore group “ the Consent “ actually does not operate. With one we work, accepting in reinsurance under obligatory contracts their risks, others - affiliated companies of our clients. Some companies which we owned, have been sold - the companies on OMS “ the Capital - the Policy “ and “ the Consent - M “. OMS - business opaque and not clear which in this kind is not necessary to us. Two years on end OMS at us was unprofitable. When reform system OMS, we will solve a question on the participation.
- what sum will be allocated for purchase of insurers in Russia?
- That sum which is required. We carry on negotiations with appraisers, auditors concerning search of the companies. We would like, that the partner in this operation was “ Marillion “ which helped us to get insurers already. Now we carry on negotiations with the insurance company which has chosen the investment adviser bank “ Zenith “. The list of the companies in which we are interested, while the small. If we see that as a result of purchase of the company and its association with “ the Consent “ our insurer will receive the added award, we will address for investments to the shareholder. Accordingly, the sum can be large. In Russia costs of the companies strongly peregrety. Many insurers who of itself represent nothing, begin “ primerivat “ on itself animators with whom were estimated ROSNO or the ICE CRUST. But in this case they should be national scale, have a share in the insurance market of Russia, instead of depend on one - two clients. The company from Muhobojska should not, having one room of a premise, some millions roubles of the award on OSAGO, to consider the cost with the animator to gross - awards.
- occurrence in an authorised capital stock of such insurers how ZHASO, VSK, Uralsib, you did not consider?
- Yes, it is the big companies, which business to us it is not completely clear. With annual gathering I am more than insurers 3 mlrd rbl. I do not consider.
a bug Igor Nikolaevich
Was born on August, 7th, 1964 in Volgograd. In 1987 has ended Moscow fiziko - technical institute (MFTI), in 1989 - Military - air engineering academy of N.E.Zhukovsky (VVIA). In 1989 - 1993 actively was engaged in scientific work in the field of perspective aviation materials and technologies.
in 1991 has started to be engaged in insurance business, having passed a way from the insurance agent to the head of the insurance company. In 1994 and 1995 - the assistant to the general director of Joint-Stock Company “ the Building insurance company “. Since March, 1995 - the director, and since December, 1996 - the general director of the insurance company “ the Consent “ (earlier - SK “ Interros - the Consent “) .
In 1997 was one of authors of the project of the Federal program of development of insurance in Russia. Since April, 1998 is a member of presidium of the All-Russia union of insurers (VSS). Is a part of advisory council on methodological questions of perfection of licencing and it is information - analytical maintenance of insurance supervision of the Ministry of Finance of the Russian Federation. In June, 1999 has been selected by the chairman of committee VSS on autoinsurance. Actively participated in working out and advancement of the law on Obligatory insurance of an autocivil liability. Is a part of presidium of the Russian union of autoinsurers (RSA), trustee RSA, the trustee of the National union of insurers of responsibility (NSSO). Holds a post of the chairman of a board of guardians of National association of societies of a mutual insurance (NAVS), and also a post of the chairman of the supervisory board of the Russian agricultural insurance pool.
has two state awards. The author of some publications, scientific works, inventions. Cand.Econ.Sci.