RUSSIA: SBERBANK Insurance joined the Russian Association of Motor Insurers

23 November 2020 — Marina MAGNAVAL
SBERBANK Insurance joined the professional association of MTPL insurers, having received the status of a member of the Russian Association of Motor Insurers (RAMI). Becoming a member of RAMI is one of the conditions for obtaining a license for MTPL, as the press service of the insurer reported on November 20.

"Strengthening our presence in the motor insurance market is one of the priorities for the company's development. We are consistently expanding our Motor Hull insurance operations. In June, the company began insuring vehicles of legal entities and individual entrepreneurs, pledged to Sberbank when applying for bank loans. By the end of the year, we will launch a "full-packaged" mini-Motor hull insurance product (without inspection), and next year - classic Motor hull with full coverage", said Mikhail VOLKOV, CEO of SBERBANK Insurance.

"At the same time, SBERBANK Insurance is working to entering the MTPL segment. Now the company has received the status of an observer member of the RAMI, next year we will apply for a MTPL license. In the near future, we will begin to gradually introduce our Motor hull policies to the motor insurance marketplace created by Sberbank in the Sberbank Online mobile application. We expect that by 2021 our company's MTPL policies will appear in this marketplace", he explained.

SBERBANK Insurance is a subsidiary of Sberbank and is offering services in property and personal insurance, except for life insurance. At the end of 2019, the company ranked 10th in TOP-10 non-life insurers of the country. SBERBANK Insurance has a rating assigned by Expert RA at the level of ruAA.

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