Russia

Location:
- Northern Asia (the area west of the Urals is considered part of Europe), bordering the Arctic Ocean, between Europe and the North Pacific Ocean.
- Neighbours: Norway, Finland, Estonia, Latvia, Lithuania, Poland, Belarus, Ukraine, Georgia, Azerbaijan, Kazakhstan, Mongolia, China, North Korea.

Climate:
- ranges from steppes in the south through humid continental in much of European Russia;
- subarctic in Siberia to tundra climate in the polar north;
- winters vary from cool along Black Sea coast to frigid in Siberia;
- summers vary from warm in the steppes to cool along Arctic coast.

Natural hazards:
- permafrost over much of Siberia is a major impediment to development;
- volcanic activity in the Kuril Islands;
- volcanoes and earthquakes on the Kamchatka Peninsula;
- spring floods and summer/autumn forest fires throughout Siberia and parts of European Russia.

Currency: Ruble
Code: RUB
Since: 1998

Exchange rates at December 31st:

1 EUR = 79.4605 RUB (2018)
1 EUR = 68.8668 RUB (2017)
1 EUR = 63.8111 RUB (2016)
1 EUR = 79.6972 RUB (2015)
1 EUR = 68.3427 RUB (2014)
1 EUR = 44.9699 RUB (2013)
1 EUR = 40.2286 RUB (2012)
1 EUR = 41.6714 RUB (2011)
1 EUR = 40.3331 RUB (2010)

Sources:

Flag

source: Wikimedia Commons

Location map

author: OCHA/ReliefWeb

Statistics

Russia FY2018 Market Portfolio

Russia FY2018 Rankings

See all statistics

Latest news

RUSSIA: The 2nd International Insurance and Reinsurance Congress "Global Objectives 2019" took place on April 10-12, 2019 in Moscow

The Congress was supported by the All-Russian Insurance Association (ARIA), and also by the Union of Insurance Experts and Adjusters (UIEA). INGOSSTRAKH was acting as the General Partner.

2019-04-22

RUSSIA: loss portfolio of RNRC amounted to RUB 4.3 billion in 2018

The Russian National Reinsurance Company published its report on the loss portfolio for 2018, according to which the losses in 2018 amounted to RUB 4.3 billion.

2019-04-18

RUSSIA: national rating of AlfaStrakhovanie affirmed at ruAA+

The national rating agency Expert RA affirmed the rating of AlfaStrakhovanie at ruAA+, outlook stable, ASN reports.

2019-04-10

RUSSIA: 2018 claims against the ROSGOSSTRAKH group exceeded 30% of its GWP

By the end of 2018, the total amount claimed in lawsuits against ROSGOSSTRAKH group reached RUB 21.1 billion, equivalent to 30.5% of the group's total GWP and 39.8% of its paid claims, ASN reported.

2019-04-10

RUSSIA: insurers' profit in 2018 grew by almost 70%

According to the Bank of Russia, in 2018 the insurer profit grew by almost 70% to RUB 204.1 billion (vs RUB 120.6 billion in 2017). Return on equity reached 31.2%, total assets increased by more than 20% and exceeded RUB 2.9 trillion, based on the survey of key indicators of insurer activity in 2018.

2019-04-10

RUSSIA: Alexey LEONENKO was appointed next General Director of SBERBANK Life insurance

SBERBANK's Board of Directors elected Alexey LEONENKO as the new General Director, replacing Viktor DUBROVIN, effective March 29, the insurer reports.

2019-04-04

RUSSIA: national rating of SBERBANK Insurance upgraded to ruAAA

The national rating agency Expert RA raised the rating of SBERBANK Insurance to ruAAA, outlook stable. Previously, the insurer's rating was ruAA+, outlook positive, ASN reports.

2019-04-04

RUSSIA: in 2018 almost 20% of the population used voluntary insurance, of which disabled people amounted to a bit more than 9%

According to a study by the Bank of Russia on the financial accessibility for disabled persons, in 2018 "voluntary insurance services were used by 19.9% of the Russian population in general and 9.4% of disabled people, while compulsory insurance services were used by 89.1% of the population in general and by 97.9% of disabled people," the document says.

2019-03-27

RUSSIA: Alexander ZARETSKI steps down from the presidency at METLIFE

On April 1, 2019, Alexander ZARETSKI will step down from his presidency of METLIFE. According to the Company's Board of Directors, this decision was made for personal reasons. Gheorghe DIMITRU will take over as president, ASN wrote.

2019-03-21

In 2018, the share of the Russian National Reinsurance Company (RNRC) in total outward reinsurance of the Russian insurance companies amounted to 10% (vs 7.3% a year ago), according to a report by RNRC.

2019-03-21

STATISTICS: RUSSIA, FY2018: for the first time in the last 6 years GWP growth exceeded 15%

The market total GWP in 2018 exceeded RUB 1,479 trillion for the first time in the last 6 years, the growth rate showed its maximum and reached 15.7% (vs 8.3% a year ago), according to the data, published by the Bank of Russia.

2019-03-14

RUSSIA: in 2H2018 agroinsurance with state support increased by 79% y-o-y and non-state insurance policies went up by 33%

In 2H2018 agroinsurance with state support increased by 79% y-o-y, as the President of the National Association of Agriculture Insurers (NAAI) Korney BIJDOV informed.

2019-03-14

RUSSIA: in 2018 insurers paid 20% less y-o-y under court decisions

In 2018, legal settlements of insurers dropped by 20% (from RUB 20.8 billion to RUB 16.79 billion), although total volume of market paid claims increased by 2.5%, as the regulator's data show.

2019-03-14

RUSSIA: SBERBANK Life insurance in 2018 removed the market leader and came out on top in terms of GWP

Based on 2018 results, SBERBANK Life Insurance ranked first in terms of GWP among all market insurers. The company's GWP reached RUB 181.5 billion. As the same time, the insurer removed SOGAZ - whose GWP amounted to RUB 160.5 billion - from its leading position, as regulator's data show.

2019-03-14

RUSSIA: Motor Hull GWP increased by 3.8% y-o-y in 2018

Motor Hull GWP increased by 3.8% (from RUB 162.5 billion to RUB 168.7 billion) in 2018, while paid claims remained at almost the same level (RUB 83.2 billion vs RUB 83.3 billion a year ago), as regulator's data show.

2019-03-14

The 2nd International Insurance and Reinsurance Congress to be held in Moscow on April 10-12, 2019

The Congress organized under the title "Global Objectives 2019", with the support of the All-Russian Insurance Association, will combine two events, as a year before: the Insurance Conference and the 23rd Annual Reinsurance Conference.

2019-03-05

RUSSIA: in 2018 compensation payments from RAMI's insolvency fund increased by almost 74% y-o-y

According to the Russian Association of Motor Insurers (RAMI), compensation payments from the insolvency fund for the insurers that left the market, amounted to RUB 9.9 billion (+73.7% y-o-y) in 2018, as ASN wrote.

2019-03-04

RUSSIA: in 2018 net profit of INGOSSTRAKH dropped by RUB 4 billion

In 2018, the net profit of INGOSSTRAKH decreased by 38% (from RUB 10.7 billion to RUB 6.7 billion), according to the company's General Director Mikhail VOLKOV.

2019-02-28

RUSSIA: Nikolay KLEKOVKIN stepped down from the presidency of Allianz in Russia

On February 19, 2019, Phillip GRONEMEYER was appointed General Director of Allianz in Russia, and Svetlana AMSHANNIKOVA became the new General Director of Allianz Life. Previously both posts were held by Nikolay KLEKOVKIN, according to a press release of the Group.

2019-02-27

RUSSIA: Life GWP went up by almost 33% in 2018

Life GWP in 2018, according to preliminary data, increased by 32.8% to RUB 478 billion, and paid claims in the sector went up to RUB 73.4 billion (+37.5%), Igor YURGENS, the President of the All-Russian Insurance Association (ARIA) announced.