RUSSIA: GWP of RESO-Garantia at the end of third quarter increased by 9.8% y-o-y

26 November 2020 — Marina MAGNAVAL
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.

The largest portion of premiums came from motor insurance (RUB 47.83 billion, +13%), while the company's paid claims in this type of insurance decreased by 5.2%. GWP collected under voluntary health insurance reached RUB 15.1 billion (+13%), property insurance (excluding Motor Hull) - RUB 8.2 billion (-1.2%). MTPL accounts for almost 35% in the company's portfolio for 9 months of 2020, the share of Motor Hull is 25.3%, VHI - 19.7%.

In the first half of 2020, RESO-GARANTIA ranked 4th in the Russian insurance market and expanded its market share to 6.68%. This year the company celebrated 29 years of operation in the market. In November 2020, Expert RA national rating agency confirmed insurance financial strength rating of RESO-Garantia at ruAA+. According to Expert RA, as of September 30, 2020, the insurer's assets amounted to RUB 185.9 billion, equity - RUB 92.2 billion, charter capital - RUB 10.9 billion.

* at the following exchange rate:
EUR 1 = RUB 92.4302 (as of 01.10.2020)

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