In the first half of 2026, the insurance market grew by 14.44% to RUB 2.02 trillion (EUR 22.80 billion, +19.13%), according to data published by the Central Bank.

Life insurance grew by 19.27%, primarily driven by accumulative life insurance, while investment life insurance declined. Non-life insurance increased by 8.81%, with growth observed across all major LoBs, the Central Bank noted in its review of key insurer performance indicators.

Accumulative life insurance was the market growth driver, fueled by large contracts offering guaranteed returns comparable to those of bank deposits. Investment life insurance declined due to a ban on sales effective from the beginning of 2026. The Bank noted that launch of new investment-linked life insurance products in the second half of 2026 is expected to revitalize the segment.

In non-life insurance all key segments saw growth. Most of its growth came from voluntary health insurance and Motor Hull.

Insurers’ paid claims in the first half of the year rose by 15.86% to RUB 1.34 trillion (EUR 15.14 billion, +20.61%). In life insurance, paid claims growth was driven by investment products, while in non-life insurance, it was observed in voluntary health insurance and compulsory motor third-party liability insurance (MTPL).

The number of complaints against insurers in the first half of 2026 fell by 7.5% year-on-year, largely due to a decrease in complaints regarding incorrect application of the bonus-malus coefficient in MTPL. On the other hand, an increase in complaints was observed in Motor Hull, accident and health insurance, voluntary health insurance, and voluntary property insurance for individuals (excluding vehicles).

The insurance market's net profit for the first half of the year fell by 28.4% year-on-year to RUB 206.5 billion, driven by a decline in underwriting results. This contraction was caused by non-life insurance, where rising loss ratios among certain non-life insurers played a role. Investment income also declined, following the negative revaluation of financial instruments amidst a deteriorating debt market. Market profitability metrics decreased over the half-year period: return on assets (ROA) stood at 6.2%, and return on equity (ROE) at 21.2%. The combined ratio in non-life insurance was 95.5%.

Market concentration in the Russian insurance sector remained virtually unchanged year-on-year. The top 20 insurers generated 90.3% of total premiums. Sberbank Life Insurance continued to lead the market in premium volume (RUB 342.69 billion). SOGAZ-Life ranked second (RUB 254.30 billion), while AlfaStrakhovanie-Life rose to third place (RUB 220.08 billion). Notably, Sberbank Life Insurance experienced a double-digit drop in GWP (-26.45%) and was the only company among the top five to record a decline for the half-year, whereas SOGAZ-Life and AlfaStrakhovanie-Life demonstrated impressive growth.

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