Russia
Statistics
Russia 1H2021 Market Portofolio
Russia 1H2021 Insurance Companies Ranking
See all statistics
Latest news
RUSSIA: Net profit of Renaissance insurance group for 9 months exceeded RUB 7 billion
Net profit of the Renaissance insurance group for 9 months of 2021 increased by 3.4 times y-o-y, exceeding RUB 7 billion (~EUR 83 million*), ASN reports referring the insurer's statement (under the OSBU).
22 October 2021RUSSIA: S&P improves the long-term ratings of ROSGOSSTRAKH
S&P Global Ratings has improved the financial strength rating and the credit rating of ROSGOSSTRAKH to BB +, with a stable outlook on the ratings. Since October 2020, the oldest insurer in Russia (the company celebrates its 100th anniversary in 2021) has had BB ratings. In April 2021, the agency improved its rating outlook to positive, the insurer said in a press release.
22 October 2021Armen MKHITARYAN appointed Director of Partnership Sales Development at SberStrakhovanie Life
Armen MKHITARYAN has been appointed Director for Partnership Sales Development at SberStrakhovanie Life. Armen's main tasks are building and developing partner sales and coordinating marketing activities.
21 October 2021RUSSIA: the share of electronic insurance contracts decreased from 40% to 10%
During the lockdown in the first half of 2020, about 40% of insurance contracts were concluded online. However, the fear of fraud and losses again led to a decrease in the share of electronic contracts below 10%, said Vladimir CHISTYUKHIN, Deputy Chairman of the Bank of Russia, in an interview with ASN.
20 October 2021RUSSIA: SberInsurance received a rating from S&P
The international rating agency S&P has assigned SberInsurance, one of the leaders of the Russian market, a financial strength rating at BBB- with a stable outlook. The agency expects that in the future the company's capital will reach a level corresponding to the rating of BBB, the insurer said in its press-release.
11 October 2021RUSSIA: sales of electronic MTPL policies from SBERBANK Insurance have started
On October 1, SBERBANK Insurance launched sales of own e-MTPL policies, ASN reports. The company appeared in the list of MTPL insurers.
5 October 2021AM Best Affirms Credit Ratings of GIC Perestrakhovanie LLC
AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of "bbb" (Good) of GIC Perestrakhovanie LLC (Russia) (GIC Re Russia). The outlook of these Credit Ratings (ratings) is stable, the agency announced.
21 September 2021STATISTICS: RUSSIA, 1H2021: GWP grew by 21%, however, insurers' profit dropped y-o-y
The insurance market in 2Q exceeded the result of the same period last year as well as pre-covid levels. Total GWP for the first half of 2021 amounted to RUB 894.2 billion rubles (+21% y-o-y)/EUR 10.37 billion, according to the data published by the Bank of Russia. Market paid claims increased to RUB 384.5 billion (+29.6%).
20 September 2021RUSSIA: KPMG: the average annual growth rate of the insurance market by 2024 will exceed 11%
KPMG prepared a report forecasting development of the insurance market in Russia in 2021-2024, based on an analysis of historical indicators, current market trends, regulation, drivers of insurance product development and general expectations of industry experts.
15 September 2021RUSSIA: SberStrakhovanie Life celebrates 9 years on the market
On September 7, 2021, SberStrakhovanie Life celebrated 9 years on the market. During this time, 26 million clients have used the company's insurance programs and concluded almost 55 million contracts, according to the insurer's press-release.
15 September 2021RUSSIA: in 2Q paid claims and loss ratio of motor insurance increased
In 2Q, paid claims in Motor Hull and MTPL saw growth faster than premiums, which led to an increase in the combined loss ratio of motor insurance. At the same time, both segments remain profitable, ASN reports based on a survey of key performance indicators of insurers, prepared by the Bank of Russia.
8 September 2021RUSSIA: total assets, equity capital and total insurance reserves of insurers increased in 1H
For the period from June 30, 2020 to June 30, 2021, total assets of Russian insurers increased by 13.7% and amounted to RUB 4.1 trillion (EUR 47.39 billion*), ASN reports with reference to the data of the Bank of Russia. At the same time, return on insurers' assets decreased to 5.6% from 8.1% a year earlier.
8 September 2021RUSSIA: average MTPL paid claim amount decreased by 1.5% in 2Q
The average amount of MTPL paid claims in the second quarter of 2021 decreased by 1.5% compared to the same period in 2020, ASN wrote with reference to the data of the Bank of Russia.
31 August 2021RUSSIA: GWP of the ROSGOSSTRAKH group increased by more than 20% y-o-y in 1H
GWP of the ROSGOSSTRAKH group, included in the TOP-10 insurers, in 1H2021 reached RUB 60.5 billion (~EUR 0.7 billion*), which is 20.5% more y-o-y in local currency, and the profit amounted to RUB 1.5 billion, ASN reports with reference on the data of the group's interim consolidated financial statements (non-life insurance company ROSGOSSTRAKH and life insurer ROSGOSSTRAKH Life).
31 August 2021RUSSIA: NAAI: agroinsurance with state support for 7 months grew by 45% y-o-y
According to the National Association of Agriculture Insurers (NAAI), out of RUB 4.3 billion/EUR 49.43 million* of insurance premium for January-July 2021 under agroinsurance contracts, 70% (RUB 3.0 billion) are related to insurance contracts for crop risks. The segment grew by 45% y-o-y, as stated on the NAAI website.
24 August 2021RUSSIA: in January-June, GWP of SBERBANK life insurance grew by more than 38% y-o-y
In January-June 2021, GWP of SBERBANK life insurance amounted to RUB 64 billion (~EUR 0.74 billion*), which is 38.3% more y-o-y. The largest share in the GWP portfolio still belongs to accumulative life insurance (ALI), however, the highest GWP growth was demonstrated by investment life insurance (ILI), the insurer said.
16 August 2021RUSSIA: GWP of ROSGOSSTRAKH Life in 1H up by 24% y-o-y
GWP of ROSGOSSTRAKH Life in the first half of 2021 increased by 24% to RUB 11.8 billion (~EUR 0.14 billion*), the insurer said.
16 August 2021RUSSIA: rating agency Expert RA improved insurance financial strength rating of ROSGOSSTRAKH Life to ruAA
The Expert RA rating agency has improved insurance financial strength rating of ROSGOSSTRAKH Life to ruAA with a stable outlook. Previously, the company had a rating at the ruAA- level with a stable outlook, the insurer said.
13 August 2021RUSSIA: the number of MTPL appeals to the Financial Ombudsman in 1H decreased by more than 15% y-o-y
In the first half of 2021, the number of appeals to the Financial Ombudsman for Disputes of Clients of MTPL insurers decreased by 15.5% y-o-y and amounted to 65,579, as reported by the Chief Financial ombudsman Yuri VORONIN, as ASN reports.
13 August 2021RUSSIA: GWP of SberInsurance in 1H increased by 26% y-o-y
GWP of Sberbank's subsidiary SberInsurance in the first half of 2021 amounted to RUB 11.6 billion (EUR 0.13 billion*), which is 26% more y-o-y. The company's net profit for the period increased by 3% - to RUB 3.8 billion, according to a press release from the company.
3 August 2021
