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


Related articles

FIRST AND THE ONLY ONE IN AZERBAIJAN

AzRe Reinsurance OJSC is the first and the only reinsurer on Azerbaijan market. The company was founded in 2007, total equity of the company as of January 01, 2018: AZN 77.3 million (~EUR 38.06 million) * and total assets exceed AZN 102.2 million (~EUR 50.33 million). Share capital of AzRe Reinsurance is AZN 50 million (~EUR 24.6 million). Net profit in 2017 was AZN 21.4 million (~EUR 10.53 million). Total income for 2017 was AZN 54.6 million (~EUR 26.88 million) and total expenses amounted to AZN 28.8 million (~EUR 14.18 million). Paid income tax amounted to AZN 4.4 million (~EUR 2.16 million) from the gross profit of AZN 25.8 million (~EUR 12.7 million). In 2017 reinsurer generated AZN 50.4 million (~EUR 24.81 million) of GWP. Market share is 43% of all outgoing reinsurance in Azerbaijan.

2018-04-20

What re/insurance professionals are already on FIAR 2018's list of speakers?

Specialists from ICMIF - International Cooperative Mutual Insurance Federation and PensionsEurope, representatives of national insurance associations from Austria and Turkey, as well as professionals representing SWISS Re, GEN Re and AUDATEX are just a few of the speakers who have already confirmed their presence at FIAR 2018 - The International Insurance-Reinsurance Forum.

2018-04-19

ON THE MOVE

Zurich: leadership transition in EMEA business

Currently group CEO of AXA UK and Ireland, Amanda BLANC will also join the executive committee at ZURICH, with the handover scheduled to complete in the fourth quarter of 2018. BLANC is to succeed Gary SHAUGHNESSY as CEO of ZURICH Insurance's EMEA business.

12.04.2018

TOP EVENT

What re/insurance professionals are already on FIAR 2018's list of speakers?

Specialists from ICMIF - International Cooperative Mutual Insurance Federation and PensionsEurope, representatives of national insurance associations from Austria and Turkey, as well as professionals representing SWISS Re, GEN Re and AUDATEX are just a few of the speakers who have already confirmed their presence at FIAR 2018 - The International Insurance-Reinsurance Forum.

19.04.2018

photodune-3834701-laughing-girl-xs

LIVE: Moscow, Russia: The XXII International Reinsurance Conference

The XXII International Reinsurance Conference has started today in Moscow, organized by Delovoy Format, with the support of the Russian Insurers Association. XPRIMM, the traditional Media Partner of the conference, has launched on the occasion the latest edition of its Insurance Profile Russia, providing for 2017 insurance statistical data.

11.04.2018

photodune-3834701-laughing-girl-xs

The 4th edition of the European Consumer Protection Conference: Main conclusions

The European Consumer Protection Conference, taking place on Thursday, 22 March, in Prague, brought into debate the consumer environment in the current European regulatory and economic landscape, the upcoming legislative changes that will benefit consumers and users of insurance and private pension products, as well as digitalization and the impact of technological advances in the field of financial services.

22.03.2018

See all