RUSSIA: first quarter net profit of ROSGOSSTRAKH exceeded RUB 1.3 billion

Net profit of ROSGOSSTRAKH for the first quarter, based on the Russian Accounting Standards, exceeded RUB 1.3 billion (~EUR 17.9 million), ASN reports.

For the same period in 2018, the company's net profit amounted to about RUB 0.6 billion (~EUR 8.5 million), and for the 1st quarter in 2017 the insurer saw a net loss of RUB 13.1 billion (- EUR 216 million). GWP of the company for January-March 2019 reached RUB 17.5 billion (vs RUB 12.3 billion in 1Q2018).

Nikolaus FRAI, the company's general director explained the results of the insurer's activity, "we can once again emphasize that the steady dynamics of the financial results achieved by the company last year continue in 2019. Back in 2018, we launched several important projects that allow us to strengthen our position in the insurance market. If the task of 2017 and 2018 was to stabilize the insurance portfolio and return to profitability on all business lines, the task of 2019 is significant growth".

* EUR 1 = RUB 72,7230 (31.03.2019)
EUR 1 = RUB 70,5618 (31.03.2018)

Share |