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.
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.
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
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)
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
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).
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.
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.
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.
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.
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.
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.
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.
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.
Aleksander GOGLENKOV was appointed Deputy General Director - Executive director of SBERBANK Insurance, the insurer announced on June 25 in its press release.
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.
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.
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.
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.
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.