Russia
RUSSIA: ARIA: market growth is expected to reach 10% in 2021
In 2021, the market development will be even, based on the structure of the insurance portfolio over the past three years, and GWP increase can range from 5% to 10%.
5 January 2021RUSSIA: ROSGOSSTRAKH affirmed by S&P at BB, outlook stable
The long-term issuer credit rating of ROSGOSSTRAKH affirmed at BB, outlook stable, despite the extremely high dividends of RUB 12.2 billion (~EUR 0.13 billion*), that the company will pay to its parent financial corporation in 2021, the press-release of S&P Global ratings said.
22 December 2020RUSSIA: ROSGOSSTRAKH Life is "Time for Innovation 2020" award holder
The company won the "Innovatively Active Company of the Year" nomination. The ceremony of awarding the winners of the Time for Innovation 2020 award was held on December 11 in Sochi, the insurer said in its press release.
22 December 2020STATISTICS: RUSSIA, 3Q2020: Return on equity of insurers at its maximum on record - almost 35%
For the last 9 months of 2020 the market reached RUB 1.1 trillion/EUR 12.21 billion* (+3.1% in local currency), according to the data published by the Bank of Russia. The results were significantly impacted by the drop during the second quarter due to restrictive measures related to the pandemic.
17 December 2020RUSSIA: for 9 months of 2020, the average commission of insurance brokers was the lowest among the five main sales channels through intermediaries
The average commission of insurance brokers from January to September 2020 amounted to 14.6% - the lowest among the five main sales channels through insurance intermediaries, ASN reports according to the head of the Council of the Association of Professional Insurance Brokers Katerina YAKUNINA.
16 December 2020RUSSIA: from January to September, the number of MTPL reported insured events decreased by almost 22% y-o-y
For the period from January to September 2020, GWP of the TOP-10 MTPL insurers increased by 7.4%, to RUB 135 billion (EUR 1.46 billion*), and their share in the segment reached 82.3% (vs 81.7% a year ago), ASN reports according to the Bank Russia.
16 December 2020RUSSIA: for 9 months of 2020 the average Motor Hull premium decreased by 17.5% y-o-y
From January to September 2020, Motor Hull GWP grew in local currency by only 1.4%, to RUB 123.1 billion (~EUR 1.33 billion*), while the average premium decreased by 17.5% to RUB 29.4 thousand.
9 December 2020RUSSIA: RSHB-Life Insurance awarded in the nomination "Growth Leader of accumulative life insurance"
On November 24, at the analytical conference "Life Insurance: Market Transformation", RSHB-Life Insurance was awarded a diploma in the nomination "Growth Leader of accumulative life insurance" based on a study of the life insurance market for 9 months of 2020, the insurer's press service reported.
3 December 2020RUSSIA: for 9 months of 2020 profit of insurers (before tax) increased by almost a quarter y-o-y
During the pandemic, insurance companies remained stable. According to the results for 9 months of 2020, the profit of the insurance market (before tax) increased by almost a quarter (+24.6% y-o-y), to RUB 230.4 billion (~EUR 2.49 billion*), according to the "Financial Stability Review" of the Central Bank of the Russian Federation.
2 December 2020RUSSIA: the 24th Annual Reinsurance Conference and the 19th Annual November Business Meetings for Reinsurers held on November 25-26, 2020
On November 25-26, 2020, the event was held in Moscow that united the 24th Annual Reinsurance Conference and the 19th Annual November Business Meetings for Reinsurers.
2 December 2020RUSSIA: GWP of RESO-Garantia at the end of third quarter increased by 9.8% y-o-y
For the first 9 months of 2020, the GWP of RESO-Garantia increased by 9.8% y-o-y, to RUB 77.42 billion (~EUR 0.84 billion*). The company's paid claims for the period amounted to RUB 34.78 billion, writes ASN with reference to the company's press release.
26 November 2020RUSSIA: SBERBANK Insurance joined the Russian Association of Motor Insurers
SBERBANK Insurance joined the professional association of MTPL insurers, having received the status of a member of the Russian Association of Motor Insurers (RAMI). Becoming a member of RAMI is one of the conditions for obtaining a license for MTPL, as the press service of the insurer reported on November 20.
23 November 2020RUSSIA: GWP of ROSGOSSTRAKH Life doubled y-o-y from January to September
For the first nine months of 2020, according to the company, ROSGOSSTRAKH Life doubled its GWP volume y-o-y (in local currency), having collected RUB 14.4 billion (~EUR 0.15 billion*), the insurer reports.
17 November 2020RUSSIA: From April to October, ROSGOSSTRAKH Life paid RUB 3.7 million for events related to the coronavirus
ROSGOSSTRAKH Life has paid RUB 3.7 million (~EUR 40 thousand*) for insured events related to COVID since the beginning of the pandemic (from April to October 2020), the insurer said in a press release.
12 November 2020RUSSIA: SBERBANK Insurance has entered into an obligatory agricultural risk reinsurance agreement
SBERBANK Insurance has entered into an obligatory reinsurance agreement of agricultural risks. The coverage extends to insurance of crops and perennial plantations, as well as livestock, the insurer said.
10 November 2020RUSSIA: On October 29, 2020, the Sixth Annual Forum of Insurance Market Leaders: Distance Products and Digital Challenges was held in Moscow
The organizers of the largest event in the insurance market were the Insurance News Agency (ASN) and the Analytical Center BusinessDrom. The forum was held at the same time in offline and online formats, with over 350 managers, owners of insurance companies and their partners participating.
9 November 2020RUSSIA: from January to September, total profit of insurers grew by 26% y-o-y
According to preliminary results for three quarters of 2020, non-life sector decreased by 2%, to RUB 267 billion (~EUR 2.89 billion*), while life insurance was the market driver having increased by 16% to RUB 121 billion, the Deputy chairman of the Bank of Russia Vladimir CHISTYUKHIN said at the VI Annual "Forum of the insurance market leaders: Remote products and digital challenges", on October 29.
9 November 2020RUSSIA: On October 29, at the "Forum of Insurance Market Leaders: Remote Products and Digital Challenges", an award ceremony was held for the leaders of the insurance market
On October 29, 2020, the 6th Annual "Forum of Insurance Market Leaders: Distance Products and Digital Challenges" was held. The event was organized by the Insurance News Agency and the BusinessDrom Analytical Center.
9 November 2020RUSSIA: from January to September, agroinsurance with state support increased by 31%
According to the National Association of Agriculture Insurers (NAAI), for the period of January to September 2020, agroinsurance with state support increased by 31% y-o-y, with both crop and livestock insurance showing positive dynamics, as follows from the NAAI report.
3 November 2020RUSSIA: from January to September GWP of INGOSSTRAKH grew by 5% y-o-y, while paid claims decreased by the same value
From January to September 2020, GWP of INGOSSTRAKH amounted to RUB 88 billion (EUR 0.95 billion*), which is 5% more y-o-y. Of that amount RUB 80.2 billion (+2%) were received under direct insurance, and RUB 7.8 billion - from inward reinsurance (+33% y-o-y), according to the company.
28 October 2020
