LIVE: XII International Conference Insurance in Central Asia

Svetlana NIKYTINA, Deputy Director, Insurance Supervisory Department, Central Bank, Russian Federation
  • In 2017, life insurance was the market driver for the Russian insurance market, mainly due to investment life insurance
  • Central Bank is working on the legal framework in order to implement Solvency 2 on the market, starting 2022
  • We also prepare the needed amendments to allow the intermediaries on the Russian market to sell online policies (MTPL) - as today this is not allowed
Sergey OSENKO, Director, Insurance Supervisory Department, Ministry of Finance, Belarus
  • There are 17 companies on the Belarusian Insurance Market at the beginning of this year, in comparison with 23 in 2017
  • 8 insurers are owned by the state, with a stake of more than 50%
  • The penetration rate of the insurance segment in GDP is of 1%
  • Claims ratio on the market in 2017 - 56%
  • We intend to liberalize the insurance process of the state-owned companies, therefore state-owned companies will not be obliged to insure their risk in the insurance companies where the state is having a majority stake
Vitaliy VEREVKIN, President, Kazakh Insurers Association
  • 1,8% - penetration degree of the insurance in Kazakhstan's GDP
  • Insurance density in Kazakhstan - USD 62 in 2017
  • The market is stable, we discuss about the introduction of the online insurance soon, mainly on the MTPL segment, also about the accession of the Kazakhstan to the Green Card System
Nikolay GALUSHIN, President, RNRC
  • After 1 full year of activity - RNRC has RUB 31 billion in reserves, RUB 71 billion shared capital and has written reinsurance premiums of RUB 7.7 billion, of which 3% represents international business
  • We are a registered reinsurer in India, China, Egypt and also in Korea and the North African Region
  • Our strategy is to achieve a 20% stake in our total premiums from international markets till 2021
  • For the moment our core market are former soviet countries
  • We offer added value services for our partners, in Russia and abroad; as a matter of fact sanctioned businesses represent only 20% in the total volume of our written reinsurance premiums

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