RUSSIA: in 2018 insurers paid 20% less y-o-y under court decisions

14 March 2019 — Marina MAGNAVAL
In 2018, legal settlements of insurers dropped by 20% (from RUB 20.8 billion to RUB 16.79 billion), although total volume of market paid claims increased by 2.5%, as the regulator's data show.

Among the main classes, it's worth noting that legal settlements decreased by 10% y-o-y (RUB 9.25 billion of the total MTPL paid claims - RUB 139.1 billion) for MTPL. MTPL total paid claims also dropped by 21% in 2018.

Motor Hull legal settlements decreased by 20.5%, amounting to RUB 3.4 billion of total Motor Hull paid claims - RUB 83.43 billion, which also went down by 0.3% in 2018, as reported by TASS news agency.

Legal settlements for property insurance, however, went up by 13% to RUB 1.7 billion, while legal settlements in voluntary insurance for motor vehicle owner liability remained unchanged (RUB 1 billion), ASN wrote.

*EUR 1 = RUB 79.4605 (31.12.2018)

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