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RUSSIA: AM Best affirms ratings of INGOSSTRAKH
AM Best has affirmed the financial strength rating of B++ (Good) and the long-term issuer credit rating of 'bbb' of INGOSSTRAKH company, outlook stable, according the information published by the rating agency.
11 August 2020RUSSIA: the number of complaints against insurance companies decreased by 35% y-o-y in the first half of 2020
In 1H2020, the Bank of Russia received only 15 thousand complaints against insurance companies, which is 34.7% less y-o-y. At the same time, the number of MTPL complaints amounted to 12 thousand of the total (-35.2%), the Bank said on its website.
11 August 2020RUSSIA: S&P affirms AlfaStrakhovanie at BB+, outlook stable
S&P Global Ratings affirmed the long-term financial strength rating of AlfaStrakhovanie at BB+, outlook stable. The affirmation of the rating reflects the agency's view of the company's leading market position and strong operating performance, as S&P explained in the report.
5 August 2020RUSSIA: January-June number of insured livestock with state support increased by 30% y-o-y
In the first half of 2020, about 3.4 million livestock items were insured with state support, which is 30% more y-o-y, according to the National Association of Agriculture Insurers (NAAI) figures.
4 August 2020RUSSIA: Representative office of Gen Re in Moscow will be headed by Vladimir IGNASHIN from August 1
On July 31, 2020, Capitolina TOURBINA is leaving the position of Director of the Representative office of Gen Re in Moscow, one of largest international reinsurers. From August 1st, 2020, the office will be headed by Vladimir IGNASHIN, the insurance news agency reports.
30 July 2020RUSSIA: 1H2020 MTPL paid claims decreased by more than 6% y-o-y thanks to quarantine restrictions
In 1H2020, MTPL GWP decreased slightly y-o-y (-0.7% in local currency), to RUB 103.26 billion (~EUR 1.3 billion*). At the same time, thanks to restrictive measures during the pandemic, paid claims dropped by 6.2%, to RUB 69.58 billion, ASN reports based on the data of the Russian Association of Motor Insurers (RAMI).
28 July 2020RUSSIA: paid claims of RNRC in the first half of 2020 decreased by almost 35% y-o-y
For the first six months of 2020, the net profit of the Russian National Reinsurance Company (RNRC) increased by 29.6% y-o-y, to RUB 3.9 billion (~EUR 49.37 million*), as the Finmarket portal informed according to the reinsurer's financial report.
28 July 2020RUSSIA: Russian online medical insurance platform receives new investment of USD 4.5 million
Lead investors, Moscow based AddVenture and Berlin based Target Global, of the Russian insurtech startup BestDoctor, were joined by the London-based LVL1 fund, making third round of financing for USD 4.5 million, as techcrunch.com informed.
23 July 2020RUSSIA: new appointment at ROSGOSSTRAKH Life
Gulnara ORLOVA has been appointed head of the department for the development of additional services of ROSGOSSTRAKH Life, according to the insurer's press release.
23 July 2020RUSSIA: financial reliability rating of SBERBANK Life insurance confirmed at ruAAA
The national rating agency Expert RA has confirmed the highest rating of financial reliability of SBERBANK Life insurance at ruAAA, outlook stable, as the insurer's press service reports.
23 July 2020RUSSIA: in April and May, the market decreased by about 15% y-o-y
In April and May 2020, market GWP decreased by almost 15% y-o-y. However, this contraction was not catastrophic for the market, as the Expert RA rating agency noted in its press release.
14 July 2020STATISTICS: RUSSIA, 1Q2020: Market growth exceeded 12% after previous quarter stagnation
In 1Q2020, the Russian insurance market growth was the highest over the past five quarters, after stagnation at the end of 2019, the Central Bank of Russia reports. The market GWP increased 12.6% year-on-year, its total volume reaching RUB 426.3 billion (~EUR 5.0 billion*), according to the data published by the regulator.
9 July 2020RUSSIA: in June 2020, the number of paid claims of SBERBANK Life insurance increased by 30% y-o-y
In June 2020, total amount of insurance claims paid by SBERBANK Life insurance exceeded RUB 880 million (*EUR 11.14 million), which is 53% more than in June 2019. At the same time, the number of claims paid increased by 30% y-o-y, the insurer said in its press release.
7 July 2020RUSSIA: returns under accumulative insurance contracts of SBERBANK Life insurance in 2019 reached 8.15%
At the end of 2019, returns on investments under accumulative life insurance contracts of SBERBANK Life insurance amounted to 8.15% for policies denominated in rubles and 3.62% for policies denominated in dollars, the insurer said in its press release.
3 July 2020RUSSIA: Aleksander GOGLENKOV appointed Deputy General director, Executive director of SBERBANK Insurance
Aleksander GOGLENKOV was appointed Deputy General Director - Executive director of SBERBANK Insurance, the insurer announced on June 25 in its press release.
29 June 2020RUSSIA: pretax profit of insurers increased by 19.2% y-o-y in the first quarter of 2020
For the first three months of 2020, insurers' ROE was 33.2% (vs 31.4% a year ago), quite high according to the Central Bank of Russia, as mentioned in the report on the key performance indicators of the insurers' activity.
24 June 2020RUSSIA: over 40% of Sberbank's claims for losses of jobs were paid in April and May
In April-May 2020, SBERBANK Life insurance, a subsidiary of Sberbank, made 14 thousand payments for insured events, including around 600 payments to clients due to job loss and about 100 payments due to pulmonary diseases, including COVID-19, the press service of the insurer reports.
18 June 2020RUSSIA: over half of RESO-Garantia's GWP came from motor insurance in the first quarter
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.
10 June 2020RUSSIA: in the first quarter of 2020 INGOSSTRAKH registered a loss after tax of RUB 442 million
For the first quarter of 2020, the loss after tax of INGOSSTRAKH amounted to RUB 442.3 million (~EUR 5.1 million) due to revaluation of securities in the company's portfolio, ASN reports with reference to the insurer's report on the financial results.
10 June 2020RUSSIA: Insured amount for the Russian Okhotnik stealth drone will exceed USD 20 million
The Russian latest stealth drone Okhotnik (Hunter), developed by the Sukhoi Aircraft Company, will be insured for almost RUB 1.3 billion (more than USD 18 million), as TASS agency informed according to the government's web portal.
9 June 2020
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