From January to March 2026, the insurance market grew by 11.37% to RUB 941.55 billion (EUR 10.07 billion), according to data published by the Central Bank.

This growth was primarily driven by the life insurance segment. Investment life insurance declined sharply. Voluntary health insurance, Motor Hull, and property insurance for legal entities and individuals increased. The borrower insurance segment declined again.

In the first quarter of this year, Motor Hull and MTPL grew thanks to premiums received from individuals. The corporate portion of the portfolio declined in both segments. The market was supported by growth in new car sales and car loans, as noted by the Central Bank in its review of key insurer performance indicators.

Total paid claims totaled RUB 697.55 billion (EUR 7.46 billion), which is 15.77% more y-o-y. The main growth in life insurance paid claims was driven by investment life insurance, while in non-life insurance, it was driven by voluntary health insurance and MTPL.

The number of complaints against insurers in the first quarter of 2026 decreased by almost a quarter y-o-y, largely supported by complaints related to the bonus-malus coefficient in MTPL. Complaints related to accident insurance, insurance against illnesses, and voluntary health insurance rose.

The share of online sales improved in the first quarter of this year. Remuneration for such sales decreased y-o-y, contributing to a reduction in the share of intermediary fees in premiums.

At the end of the quarter, net profit in the Russian insurance market decreased by almost a third y-o-y, to RUB 109.3 billion. The decrease in profit was due to lower results from insurance operations. The decline in insurance profits was primarily driven by the non-life insurance segment, largely due to increased unprofitability of some non-life insurers. The deterioration in insurance result was partially offset by foreign exchange gains, which helped to somewhat offset the impact of lower insurance result on the insurance market's net profit.

Insurance market profitability decreased in the first quarter of 2026: return on assets was 7.1% and return on equity was 23.8%.

Total insurer assets at the end of March 2026 exceeded RUB 6.9 trillion (+19.6%). In the first quarter, the share of bonds in insurers' assets increased again, by 2.4 percentage points, to 49% at the end of March 2026.

Russian insurance market concentration remained unchanged (y-o-y). The top 20 insurers accounted for 90.3% of the market's premiums. SBERBANK Life Insurance remains the market leader in GWP (RUB 171.62 billion). SOGAZ-Life moved up to second place (RUB 102.21 billion), and AlfaStrakhovanie-Life moved up to third (RUB 99.88 billion).

Access xprimm.com and download the latest Russian insurance market statistics for 1Q2026 in EUR and RUB.