RUSSIA: over half of RESO-Garantia's GWP came from motor insurance in the first quarter

10 June 2020 —
In 1Q2020, RESO-Garantia's GWP reached RUB 25 billion (~EUR 0.3 billion), which is 17.9% more y-o-y, according to the preliminary data released by the company. At the same time, the insurer's net profit amounted to RUB 14.7 billion, ASN reports based on the company's press service.

GWP of motor insurance (MTPL, Motor Hull and voluntary motor third party liability insurance), which is the main company's business line, reached about RUB 13.5 billion, 11.4% more than a year ago.

RESO-Garantia's paid claims increased in the first quarter of 2020 by 5.4% y-o-y, to almost RUB 12.3 billion. Its total number of concluded contracts grew by 12.9% y-o-y.

In 2019, RESO-Garantia ranked 5th on the market in terms of GWP, and the company's market share was 6.61%.

*EUR 1 = RUB 85.7389 (1 April 2020, Central Bank)



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