Inweasta finalizes PPF Life Insurance Acquisition, Ensuring Continuity of Excellent Client Service

Inweasta has successfully completed the acquisition of 100% of the shares of the Russian insurance company PPF Life Insurance LLC from PPF Group. The transaction was approved by the Central Bank of the Russian Federation and the Foreign Investment Subcommittee.

Andrey Elinson, founder of Inweasta: ‘First of all, I would like to thank PPF Group for its trust and professional co-operation on the transaction. PPF Life Insurance is a successful company with a team, values and principles very close to our own. We are pleased that the management remains with the company and will continue its work. For its part, Inweasta will support and assist the management of the company in its development’.

Vit Sedlacek, Chairman of the Board of Directors of PPF Life Insurance: ‘Inweasta is a partner interested in the development of the company. We continue to operate in line with our high standards of quality and reliability. Our customers will not be affected by the change of ownership and the company will continue to fulfil all its obligations to them in full’.

PPF Group spokesperson Leoš Rousek: ‘We would like to thank Inweasta for its professional and comprehensive approach to negotiations, which contributed to the successful completion of this transaction’.