RUSSIA: based on 1H2018 results, average Motor Hull policy cost fell to the lowest level in 6 years

17 October 2018 — Marina MAGNAVAL
According to the first half year result, the average Motor Hull policy in Russia fell to the lowest cost in the past 6 years, meaning RUB 34,800, reported RBK.

According to the rating agency Expert RA, in the first quarter of 2018, the average cost of Motor Hull policy amounted to RUB 39,600 while in the second quarter of 2017 (a year ago) it was RUB 41,900.

Market specialists believe that the reason for the policy cost reduction is that drivers are more often choosing cheap policies, which only cover partial risks, or policies with franchise (deductible). According to the 1H2018 result, total Motor Hull GWP went up by 3.1% y-o-y and the number of concluded agreements increased by 24.2%, thanks to an increase in new vehicle sales.

*for approximate calculation: EUR 1 = RUB 72.99 (as of 30.06.2018)

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