Russia
RUSSIA: the XVII Annual November Business Meetings for Reinsurers took place on November 21-22, 2018 in Moscow
The XVII Annual November Business Meetings (NBM) for Reinsurers took place on November 21-22, 2018 in Moscow in the Modern Business Center located in the historic building in the very center of Moscow, according to the post release of the Delovoy Format Group.
29 November 2018RUSSIA: total volume of lost crops in 2018 amounted to 1.2 million hectares with insured crops of 625 thousand hectares
Claims paid to farmers in 1H2018 reached RUB 706 million, while only 625 thousand hectares out of the total volume of 1.2 million hectares affected by natural disasters were covered by insurance, informed Korney BIJDOV at the annual forum "Insurance business during the era of changes", on October 30, 2018 in Moscow.
28 November 2018RUSSIA: replacement in kind in MTPL is below 15-20%
According to the Deputy executive director of the Russian Association of Motor Insurers (RAMI), Sergey EFREMOV, as of now the share of replacement in kind in MTPL is below 15-20%.
22 November 2018RUSSIA: the national rating of VTB Insurance confirmed at ruAAA
The national agency Expert RA confirmed the rating of VTB Insurance at ruAAA with stable forecast followed 100% sale of VTB Insurance to SOGAZ in November 2018, ASN wrote.
22 November 2018RUSSIA: life insurance after 3 quarters went up by 36%, preliminary data show
According to the preliminary data for 9 months this year, provided by the All-Russian Insurance Association (ARIA), Russian life insurers generated GWP in the amount of RUB 342.6 billion (+36% y-o-y).
15 November 2018RUSSIA: GWP of RESO-Garantia went up by 3.5% y-o-y as of the end of September
Net profit of RESO-Garantia from January to September this year increased by 18% y-o-y and amounted to RUB 16.2 billion, as announced by the insurer.
8 November 2018RUSSIA: MTPL paid claims decreased by 27 % y-o-y after first 9 months
According to preliminary data of the Russian Association of Motor Insurers (RAMI), for the first 9 months of this year MTPL GWP amounted to RUB 167.16 billion, which is almost the same level as a year ago.
8 November 2018RUSSIA: GWP of RESO-Garantia as of the end of September went up by 3.5% y-o-y
Net profit of RESO-Garantia from January to September this year increased by 18% y-o-y and amounted to RUB 16.2 billion, as the insurer informed.
8 November 2018RUSSIA: MTPL liberalization will boost competition price, says FITCH
MTPL insurers in Russia are likely to compete more strongly on price if further liberalization of the market takes effect next year, FITCH Ratings says in a new report, published on November 5, 2018.
8 November 2018GENERALI has opened a Representative Office in Moscow
The Representative Office of GENERALI in Moscow was officially opened on 31 October 2018 by Luciano CIRINA, CEO of GENERALI CEE Holding and Regional Officer for Austria, CEE & Russia and the Chairman & CEO of GENERALI Russia & CIS, Giorgio CALLEGARI.
1 November 2018RUSSIA: national rating of SiV Life confirmed at ruAA
Expert RA confirmed the rating of SiV Life at ruAA with a stable forecast. As the key positive rating factor the agency pointed to the high financial potential of the company's owner, Talanx AG, one of the leaders in the European insurance market with high international ratings.
1 November 2018RUSSIA: SOGAZ and VTB merge completed
SOGAZ and VTB group completed 100% of the transfer of VTB Insurance. The merge involves all the companies of VTB group, including VTB Life insurance and VTB health insurance. All necessary approvals from regulatory authorities were received, according to SOGAZ.
1 November 2018RUSSIA: Bank of Russia increased requirements to credit ratings of foreign reinsurers
Bank of Russia decided to increase requirements to international credit ratings of the foreign reinsurers, whose obligations under insurance contracts are accepted to cover insurance reserves, according to the press release of the Central Bank.
25 October 2018RUSSIA: from January to September GWP of RNRC went up by 68% y-o-y
GWP of RNRC (Russian National Reinsurance Company) amounted to RUB 8.8 billion (+68% y-o-y) from January to September this year, as reported by the Financial director of the company, Olga KRYMOVA.
25 October 2018Russian Insurer INGOSSTRAKH upgraded to 'BBB-' from 'BB+' on Stronger Quality of Investment Portfolio with a stable outlook
On October 24, S&P Global Ratings raised its issuer credit and financial strength ratings for the Russia-based INGOSSTRAKH Insurance Co. to 'BBB-' from 'BB+.' The outlook is stable.
25 October 2018RUSSIA: ERGO Group is selling 100% of ERGO Life to ROSGOSSTRAKH
ERGO Group AG announced the sale of 100% of its life business in Russia to ROSGOSSTRAKH. The parties already signed an agreement and the deal is subject to approval by the regulatory authorities, as ERGO informed on its official website.
25 October 2018RUSSIA: an Indian company became the leader of RNRC retrocession program for 2019
The President of RNRC (Russian National Reinsurance Company) Nikolay GALUSHIN announced on October 23 that the company held a competitive selection of an insurance broker to organize a retrocession program for 2019, at that an Indian company became the leader of the program, writes Finmarket.
25 October 2018RUSSIA: S&P assessed industry and country risk in the P/C insurance sector as high
On October 19, S&P Global Ratings assessed the industry and country risk in the Property/Casualty (P/C) insurance sector of Russia (foreign currency BBB-/Stable/A-3; local currency BBB/Stable/A-2) as high, due to country risks outweighing industry risks.
24 October 2018Rosgosstrakh to buy Munich Re's life insurance unit Ergo Life
18 October 2018Russia: ERGO to sell its life unit to ROSGOSSTRAKH
ROSGOSSTRAKH, one of the largest Russian non-life insurers is set to buy the local life insurance unit of German reinsurer MUNICH Re - ERGO Life, in a move to re-enter the life insurance segment.
18 October 2018
