Russia
RUSSIA: ROSGOSSTRAKH Life assigned a national credit rating at AA.ru
NKR national rating agency assigned ROSGOSSTRAKH Life a credit rating at AA.ru, outlook stable. As the agency notes, in 2021, the growth of the company's GWP will outstrip the market, and ROSGOSSTRAKH Life will maintain high profitability, according to the insurer's press release with reference to the NKR website.
20 May 2021RUSSIA: Andrey BURMISTROV appointed Risk Director of SBERBANK life insurance
Andrey BURMISTROV has been appointed Risk Director of SBERBANK life insurance, according to the insurer's press release.
13 May 2021RUSSIA: NAAI: in the first quarter of 2021 GWP in agroinsurance with state support increased by 16% y-o-y
In the first quarter of 2021, agroinsurance with state support continued to grow - GWP under contracts concluded over the period amounted to RUB 492 million (~EUR 5.54 million*), which is 16% more y-o-y, according to the National Association of Agriculture Insurers (NAAI) website.
5 May 2021RUSSIA: the number of complaints against insurers in January-March 2021 increased by 4% y-o-y
In January-March 2021, according to the Bank of Russia, the number of complaints against insurers increased by 4% y-o-y, to 8.5 thousand. At the same time, the number of complaints about mis-selling (selling some products in the guise of others) increased by almost 1.5 times, ASN reports.
5 May 2021RUSSIA: Obligatory program of SBERBANK insurance has become the largest on the market
SBERBANK Insurance renewed its obligatory reinsurance treaty for liability risks, the capacity of which almost doubled to RUB 1.8 billion (~EUR 19.89 million*), thereby becoming the largest in this type on the insurance market, the insurer said.
29 April 2021RUSSIA: NAAI: from 2018 to 2020 subsidized agroinsurance more than tripled
According to the National Association of Agriculture Insurers (NAAI), in 2019-2020 all NAAI insurers increased their activity in the agroinsurance with state support.
26 April 2021RUSSIA: paid claims of SBERBANK Life Insurance on credit insurance in January-March increased by 38% compared to the first quarter of 2020
Paid claims of SBERBANK Life Insurance on credit insurance in January-March 2021 reached to RUB 2.5 billion (~EUR 28.17 million*). Compared to the first quarter of 2020, the number of paid claims increased by a third, and their volume - by 38%, according to the insurer's press release.
21 April 2021RUSSIA: Expert RA: in 2021, market growth may range from 3% to 9%
Development of the insurance market in 2021 may have different scenarios - according to the baseline scenario, total growth will be about 8-9%, while according to the conservative scenario, the market may grow by 3-4%, explained Alexey YANIN, Managing Director of the Insurance and Investment Ratings Department of the Expert RA agency at the 25th Reinsurance Conference.
21 April 2021RUSSIA: Reinsurance in 2020, despite the pandemic, increased in both the inward and outward segments
In 2020, the inward reinsurance market increased by 14.4%. According to the RNRC (Russian National Reinsurance Company), after a sharp increase in 1Q2020, the market continued the trend of a gradual decline in growth rates throughout the year until 4Q2020.
19 April 2021RUSSIA: S&P: non-life market remained resilient to the effects of the pandemic and this trend will continue in 2021
The Russian non-life insurance market remained resilient to the effects of the COVID-19 pandemic in 2020 and, according to S&P, this trend will continue in 2021 amid an improving macroeconomic environment, the agency said in its review.
12 April 2021RUSSIA: payments for insured events of SBERBANK Life insurance for the first quarter of 2021 exceeded RUB 3 billion
For the first quarter of 2021, SBERBANK Life Insurance made 24,000 payments for insured events for a total amount of RUB 3.1 billion (EUR 34.93 million*). At the same time, the number of paid claims increased by 13% y-o-y, and total amount - by 38%, the insurer said in its press release.
12 April 2021RUSSIA: the balance of undisbursed allocated funds of RAMI reached the minimum value for the last 8 years
Over the past two years (2019-2020) the balance of undisbursed allocated funds of the RAMI (Russian Association of Motor Insurers) reached its lowest level in the last 8 years (RUB 10.5 billion/EUR 0.11 billion*, - 42% in RUB).
6 April 2021RUSSIA: SBERBANK Life insurance recognized as the company of the year in life insurance
SBERBANK Life Insurance won the Grand Prix of the "Financial Elite of Russia 2020" award in the nomination Life Insurance Company of the Year. The awards ceremony took place on March 30 in Moscow, the insurer said in its press release.
2 April 2021RUSSIA: in 2020, the insurance market supported the economy by increasing investments in government bonds and government debt by 24%
In 2020, total investments of insurers in government bonds and government debt amounted to RUB 1.838 trillion (~EUR 20.27 billion*), which is 24% more y-o-y, according to the president of the All-Russian Insurance Association (ARIA) Igor YURGENS, ASN reports.
30 March 2021RUSSIA: SBERBANK Insurance increased its charter capital to RUB 5 billion
Sberbank's subsidiary - SBERBANK Insurance increased its charter capital from RUB 2.7 to RUB 5.0 billion (~EUR 55.57 million*), the insurer said in a press release on March 26.
29 March 2021RUSSIA: despite the loss in motor insurance, ROSGOSSTRAKH Group's net profit remained at the level of RUB 7.62 billion
Net profit of the ROSGOSSTRAKH group in 2020 amounted to RUB 7.62 billion (~EUR 84 million*), which is only 0.7% less y-o-y in local currency, reports ASN, referring to the financial statements published by the company.
23 March 2021RUSSIA: in 2020 premiums, net profit and return on equity of RNRC increased
The volume of premiums accrued by RNRC (Russian National Reinsurance Company) for 2020 amounted to RUB 15 billion (~EUR 0.16 billion*), which is 7% more y-o-y. The volume of premiums earned amounted to RUB 13.8 billion (+6%), the reinsurer said in its press-release.
23 March 2021RUSSIA: RAMI: combating unfair insurance practices and the institution of the financial ombudsman drastically reduced court payments in MTPL
In 2020, court payments in MTPL decreased by 64% to RUB 3.98 billion (~EUR 43.89 million*), and the insurers' overhead expenses dropped by 62% to RUB 5.7 billion, according to Igor YURGENS, President of the Russian Association of Motor Insurers (RAMI).
23 March 2021RUSSIA: ROSGOSSTRAKH Life enters TOP-5 leaders in investment and accumulative life insurance
ROSGOSSTRAKH Life entered the TOP-5 in investment and accumulative life insurance in 2020. The company's GWP in investment-cumulative life insurance, which is the core business of ROSGOSSTRAKH Life, increased by 1.5 times, and the insurer's net profit almost tripled, according to the company's website.
18 March 2021STATISTICS: RUSSIA, FY2020: Despite a decrease in GWP and paid claims in the second quarter, by the end of the year GWP increased by about 4%, and paid claims - by 8% (in local currency)
By the end of 2020, Russian insurance market grew by about 4% to RUB 1.53 trillion (~EUR 16.97 billion*), which, despite the pandemic, is a good result, given that there was absolutely no growth in 2019. Total amount of collected GWP reached 1.45% of GDP, according to the data published by the Bank of Russia.
18 March 2021
