Originally of America Heritage , Danil Khanchaturov is the richest insurance tycoon in Russia, and has almost single-handedly taken control of the industry
Danil Khachaturov, a Moscow-based billionaire with an estimated net worth of US$2.8 billion, is the president of Russia’s largest insurance company, the Rosgosstrakh Group.
The 51-year-old divorced father-of-two is best known in his hometown as Russia’s wealthiest Armenian. He is a somewhat secretive character who avoids the press and likes to have a low public profile.
He was divorced twice: once in 2007 from a lady whose name was never made public and with whom, according to sources, he has a kid, and again in 2013 from Ulyana Sergeenko, a well-known Russian fashion designer with whom he shares a daughter. Apart from these few information, his personal life has been a well guarded secret.
From construction to banking and insurance
Khachaturov’s father was a construction worker when he was born on October 30th, 1971 in Moscow. Danil, who was only a few years old at the time, first followed in his footsteps. But, with an exceptional academic record that included a BA in Science from the Moscow Academy of Finance and a BA from the Moscow Institute of Civil Engineering, it was evident that the young Khachaturov was better suited to the world of business in 1994.
Following graduation, he went to work for the privately held BIN Bank, but then joined the energy company Slavnet, which was led by billionaire Mikhail Gutseriev at the time. Khachaturov was a quick study who recognised opportunities in commercial development that others did not.
An insurance millionaire aged 23
He was already a millionaire at the age of 23, having mastered the art of trading. In 2001, Khachaturov persuaded a group of investors to join him in purchasing the then-insolvent Rosgosstrakh Insurance company, today known as RGS or RGS Group.
The deal cost the group little over US$60 million – a pittance in comparison to the potential.
Rosgosstrakh had grown to become Russia’s largest insurance provider by 2006. The partners chose to add the insurance firm arm of the IFD Kapital Financial Group, comprising of Kapital Insurance, Kapital Reinsurance, Kapital Health Insurance, and Kapital Life Insurance, to Rosgosstrakh’s holdings in 2007 and 2008, directed by Khachaturov.
A year later, they purchased the remaining 13 percent of the Russian government’s interest. Khachaturov had rebuilt the erstwhile state-run dinosaur of a company into an insurance industry-leading powerhouse with a US$3.4 billion yearly profit with the help of his partners.
Russia’s biggest insurance company
Khachaturov is currently the Chairman of Rosgosstrakh, Russia’s largest insurance company, with more than 25 million private and 250,000 corporate clients, 3,000 regional offices, and 400 claim centres across the country. It also offers a variety of insurance products, ranging from vehicle insurance to pet insurance and even spacecraft insurance.
Khachaturov’s status as Russia’s wealthiest insurance magnate is well-established today. However, he has recently made waves after spending US$35 million on a property in Beverly Hills’ most elite neighbourhood. The astute businessman, on the other hand, had been able to negotiate a US$11 million discount off the initial price. Despite this, it was the area’s largest ever reported real estate transaction.