RUSSIA: in 2020 premiums, net profit and return on equity of RNRC increased

23 March 2021 — Marina MAGNAVAL
The volume of premiums accrued by RNRC (Russian National Reinsurance Company) for 2020 amounted to RUB 15 billion (~EUR 0.16 billion*), which is 7% more y-o-y. The volume of premiums earned amounted to RUB 13.8 billion (+6%), the reinsurer said in its press-release.

According to the press-release, there was an increase y-o-y in the share of premiums in insurance of property of legal entities and financial risks, insurance against construction and assembly risks, personal insurance and insurance of aviation risks, at the same time, a decrease in motor insurance and international business.

Paid claims under insurance, coinsurance, and reinsurance operations for 2020 amounted to RUB 4.2 billion, which is over 43% less y-o-y. The result from insurance activities amounted to RUB 6.1 billion (+52.5%) supported by the premium growth and decreased loss ratio.

In the structure of the reinsurer's portfolio, the main stakes are owned by insurance of property of legal entities and insurance against construction and assembly risks (45%), aviation insurance (14%) and cargo insurance (11%).

RNRC's net profit reached RUB 7.4 billion (+RUB 4.1 billion), and the return on equity (ROE) increased as well thanks to a significant increase in the financial result both in insurance (+RUB 3.6 billion) and in investment activities of the company (+RUB 1.7 billion), according to the reinsurer's website.

* at the following exchange rate:

1 EUR = 90.6824 RUB (December 31st, 2020)

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