Russia
RUSSIA: net profit of INGOSSTRAKH dropped by 20% y-o-y in the 1st quarter
For the first three months of this year, INGOSSTRAKH's net profit decreased by 20% to RUB 2.5 billion. Profit before tax for this period dropped by 18%, ASN reports in reference to the insurer's statement.
23 May 2019RUSSIA: number of complaints against insurers decreased by 36% y-o-y
For the period from January to March 2019, the total number of complaints against insurers amounted to 12,200, which is 36% less y-o-y, according to the Bank of Russia.
9 May 2019RUSSIA: ACRA affirms AAA(RU) for the Russian National Reinsurance Company
The Analytical Credit Rating Agency (ACRA) affirmed (RU), outlook stable for the Russian National Reinsurance Company (RNRC), the reinsurer informed.
8 May 2019RUSSIA: first quarter net profit of ROSGOSSTRAKH exceeded RUB 1.3 billion
Net profit of ROSGOSSTRAKH for the first quarter, based on the Russian Accounting Standards, exceeded RUB 1.3 billion (~EUR 17.9 million), ASN reports.
2 May 2019RUSSIA: May 7, 2019, ARIA starts checking insurer compliance with new mandatory standards
From May 7, 2019, the All-Russian Insurance Association (ARIA) will start checking insurer compliance with new mandatory standards related to operations on the insurance market and protecting consumer rights in insurance services, ASN reports.
25 April 2019RUSSIA: rating of ROSGOSSTRAKH raised to ruAA-, outlook stable
The rating agency Expert RA upgraded the national rating of ROSGOSSTRAKH to ruAA-, outlook stable. Previously the insurer had ruA rating, outlook positive, as reported by ASN.
25 April 2019RUSSIA: The 2nd International Insurance and Reinsurance Congress "Global Objectives 2019" took place on April 10-12, 2019 in Moscow
The Congress was supported by the All-Russian Insurance Association (ARIA), and also by the Union of Insurance Experts and Adjusters (UIEA). INGOSSTRAKH was acting as the General Partner.
22 April 2019RUSSIA: loss portfolio of RNRC amounted to RUB 4.3 billion in 2018
The Russian National Reinsurance Company published its report on the loss portfolio for 2018, according to which the losses in 2018 amounted to RUB 4.3 billion.
18 April 2019RUSSIA: national rating of AlfaStrakhovanie affirmed at ruAA+
The national rating agency Expert RA affirmed the rating of AlfaStrakhovanie at ruAA+, outlook stable, ASN reports.
10 April 2019RUSSIA: 2018 claims against the ROSGOSSTRAKH group exceeded 30% of its GWP
By the end of 2018, the total amount claimed in lawsuits against ROSGOSSTRAKH group reached RUB 21.1 billion, equivalent to 30.5% of the group's total GWP and 39.8% of its paid claims, ASN reported.
10 April 2019RUSSIA: insurers' profit in 2018 grew by almost 70%
According to the Bank of Russia, in 2018 the insurer profit grew by almost 70% to RUB 204.1 billion (vs RUB 120.6 billion in 2017). Return on equity reached 31.2%, total assets increased by more than 20% and exceeded RUB 2.9 trillion, based on the survey of key indicators of insurer activity in 2018.
10 April 2019RUSSIA: Alexey LEONENKO was appointed next General Director of SBERBANK Life insurance
SBERBANK's Board of Directors elected Alexey LEONENKO as the new General Director, replacing Viktor DUBROVIN, effective March 29, the insurer reports.
4 April 2019RUSSIA: national rating of SBERBANK Insurance upgraded to ruAAA
The national rating agency Expert RA raised the rating of SBERBANK Insurance to ruAAA, outlook stable. Previously, the insurer's rating was ruAA+, outlook positive, ASN reports.
4 April 2019RUSSIA: in 2018 almost 20% of the population used voluntary insurance, of which disabled people amounted to a bit more than 9%
According to a study by the Bank of Russia on the financial accessibility for disabled persons, in 2018 "voluntary insurance services were used by 19.9% of the Russian population in general and 9.4% of disabled people, while compulsory insurance services were used by 89.1% of the population in general and by 97.9% of disabled people," the document says.
27 March 2019RUSSIA: Alexander ZARETSKI steps down from the presidency at METLIFE
On April 1, 2019, Alexander ZARETSKI will step down from his presidency of METLIFE. According to the Company's Board of Directors, this decision was made for personal reasons. Gheorghe DIMITRU will take over as president, ASN wrote.
21 March 2019RUSSIA: RNRC's share in outward reinsurance reached 10% in 2018
In 2018, the share of the Russian National Reinsurance Company (RNRC) in total outward reinsurance of the Russian insurance companies amounted to 10% (vs 7.3% a year ago), according to a report by RNRC.
21 March 2019RUSSIA: in 2H2018 agroinsurance with state support increased by 79% y-o-y and non-state insurance policies went up by 33%
In 2H2018 agroinsurance with state support increased by 79% y-o-y, as the President of the National Association of Agriculture Insurers (NAAI) Korney BIJDOV informed.
14 March 2019STATISTICS: RUSSIA, FY2018: for the first time in the last 6 years GWP growth exceeded 15%
The market total GWP in 2018 exceeded RUB 1,479 trillion for the first time in the last 6 years, the growth rate showed its maximum and reached 15.7% (vs 8.3% a year ago), according to the data, published by the Bank of Russia.
14 March 2019RUSSIA: in 2018 insurers paid 20% less y-o-y under court decisions
In 2018, legal settlements of insurers dropped by 20% (from RUB 20.8 billion to RUB 16.79 billion), although total volume of market paid claims increased by 2.5%, as the regulator's data show.
14 March 2019RUSSIA: SBERBANK Life insurance in 2018 removed the market leader and came out on top in terms of GWP
Based on 2018 results, SBERBANK Life Insurance ranked first in terms of GWP among all market insurers. The company's GWP reached RUB 181.5 billion. As the same time, the insurer removed SOGAZ - whose GWP amounted to RUB 160.5 billion - from its leading position, as regulator's data show.
14 March 2019
