News Releases

Baker Botts Advises Sovcombank On Acquisition of Russian Insurance Company


Deal Description: On December 27, 2021, Sovcombank, a systemically important bank in Russia, announced it has signed an agreement to purchase CIV Life insurance company.

The acquisition is subject to regulatory approvals and is expected to close in the first quarter of 2022.

This is the third insurance company that Sovcombank has acquired. In December 2019 Sovcombank acquired Liberty Insurance (known as Sovcombank Insurance), and in December 2020 they acquired MetLife (known as Sovcombank Life).

Baker Botts advised Sovcombank on all three acquisitions.

Baker Botts Lawyers/Office Involved:

Corporate: Paul Exley (Senior Counsel, London), Igor Kungurov (Associate, Moscow).

Tax: Graham Brough (Special Counsel, London).

Baker Botts is an international law firm whose lawyers practice throughout a network of offices around the globe. Based on our experience and knowledge of our clients' industries, we are recognized as a leading firm in the energy, technology and life sciences sectors. Since 1840, we have provided creative and effective legal solutions for our clients while demonstrating an unrelenting commitment to excellence. For more information, please visit

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