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RUSSIA: products of SBERBANK Insurance and SBERBANK Life insurance combined under a single brand SberStrakhovanie
The products of SBERBANK Insurance and SBERBANK Life insurance have been combined to operate under SberStrakhovanie brand.
29 September 2020RUSSIA: Yulia GAVRILINA has been appointed Reinsurance Director of SBERBANK Insurance
Yulia GAVRILINA has been appointed as Reinsurance Director of SBERBANK Insurance, as the company announced on September 21, 2020.
22 September 2020RUSSIA: RSHB-Life insurance has been assigned the national credit rating at ruAA
The national rating agency Expert RA, based on the assessment of the financial condition of RSHB-Life insurance, assigned the company a credit rating at ruAA level with stable outlook, the insurer informed in its press-release.
21 September 2020STATISTICS: RUSSIA, 1H2020: Generated GWP remained almost unchanged y-o-y in local currency
In the second quarter, the decline in economic activity due to the pandemic led to a decrease both in GWP and paid claims, mainly because of reduction of insured events. In general, at the end of 1H2020, total market GWP amounted to RUB 739 billion (~EUR 9.39 billion*) , and remained almost at the level of 1H2019 (-0.03%), according to the data, published by the Central Bank of Russia.
17 September 2020RUSSIA: At the end of 1H2020, the share of risks, ceded to international reinsurance, increased for the first time since 2017
In 1H2020, GWP ceded in reinsurance abroad reached RUB 65.8 billion/EUR 0.83 billion*, which is 23% more y-o-y (in RUB), as ASN reports with reference to the Association of professional insurance brokers (APIB).
17 September 2020RUSSIA: 89% of insurers made profit by the end of June
At the end of the second quarter of 2020, the profit of the insurance sector has grown, and return on equity has become the highest over the past three and half years (33.7%), according to the report of the Bank of Russia.
10 September 2020RUSSIA: New regulation on MTPL came into force, allowing to reduce tariffs for careful car owners
On September 5, 2020, a new regulation of the Bank of Russia came into force, defining the procedure for applying new MTPL tariffs and allowing insurers to apply tariff factors that characterize likelihood of an insured event, The Russian Association of Motor Insurers (RAMI) informed.
8 September 2020RUSSIA: SBERBANK Insurance took the first place in the category "Technological implementation/solution of an insurance company"
SBERBANK Insurance took the first place in the category "Technological implementation/solution of an insurance company" of the annual award in the field of innovations and achievements of the financial industry FINAWARD'19.
1 September 2020RUSSIA: The 7th Annual Insurance Business Forum "Challenges of the year 2020" to be held on October 19-22, 2020
The 7th Annual Insurance Business Forum "Challenges of the year 2020" will be held on October 19-22, 2020. The main objective of the event is to provide an opportunity for specialized specialists to get up-to-date information, jointly discuss the most important issues of the industry, exchange ideas and practical experience.
31 August 2020RUSSIA: GWP of ROSGOSSTRAKH Life in 1H2020 increased by 2.5 times y-o-y
For the first half of 2020, total GWP of ROSGOSSTRAKH Life exceeded RUB 9.5 billion (~EUR 120.3 million*) and the insurer's market share grew by 4.9%, allowing the company to rank 6th (vs. 12th position a year ago) in the local market ranking, as the insurer mentions in its press release.
19 August 2020RUSSIA: 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 2020
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