Russia

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Location map

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.

Macro indicators

* 2018 estimates

Surface:	17,125,191	km²
Population*:	144.0	million
Pop. density*:	8.4	people/km²
GDP*:	1,286.1	EUR billion
GDP/capita*:	8,933.1	EUR

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:

Statistics

Russia 1Q2019 Insurance Companies Rankings

Russia 1Q2019 Market Portfolio

See all statistics

Latest news

RUSSIA: total number of agents for TOP-100 insurance companies increased by almost 13%

The total number of active agents for the leading 100 insurers increased by 12.9% y-o-y at the end of the first quarter of 2019, ASN reports, based on data from the Bank of Russia.

2019-06-20

RUSSIA: Bancassurance may drop by 10-12% at the end of the year

According to ExpertRA, Russia's largest credit rating agency, Bancassurance, despite impressive growth last year (+44.4%), may decline by 10-12% by the end of 2019, ASN reports with reference to the agency's research.

2019-06-20

STATISTICS: RUSSIA, 1Q2019: market GWP remained almost unchanged amid paid claims growth of about 28% y-o-y

Insurer GWP amounted to RUB 378.6 billion (EUR 5.2 billion) in 1Q2019, almost the same level as a year ago. Meanwhile, total paid claims increased rapidly, by 27.6% to RUB 139.2 billion (EUR 1.9 billion), statistical data of the Bank of Russia show.

2019-06-20

RUSSIA: SOGAZ comes back to leadership in the first quarter

In the first quarter of this year, SOGAZ was way ahead of last year's leader SBERBANK Life insurance, collecting RUB 80.1 billion in GWP (GWP of SBERBANK Life insurance reached RUB 37.5 billion), ASN reported based on the data of the Bank of Russia.

2019-06-13

RUSSIA: cost of MTPL policy for individuals in January-May decreased by more than 4% y-o-y against the background of increasing competition

For January-May 2019, the average cost of MTPL policy for individuals decreased by 4.1% y-o-y, as data from the Russian Association of Motor Insurers (RAMI) show.

2019-06-13

RUSSIA: Nikolay GALUSHIN leaves Presidency of RNRC July 1

The Russian National Reinsurance Company (RNRC) announced that Nikolay GALUSHIN, its President and Chairman will leave the position on July 1, 2019, "following the successful implementation of the launch and development of national reinsurer's activities, through the company's strategy".

2019-06-06

RUSSIA: from January-March life GWP dropped by 5.5% y-o-y

According to Philipp GABUNIA, Director of the Insurance Market Department of the Bank of Russia, from January to March 2019, investment life insurance (ILI) GWP dropped by 26% y-o-y in an amount of RUB 46 billion, ASN reports.

2019-05-30

RUSSIA: net profit of INGOSSTRAKH dropped by 20% y-o-y in the 1st quarter

For the first three months of this year, INGOSSTRAKH's net profit decreased by 20% to RUB 2.5 billion. Profit before tax for this period dropped by 18%, ASN reports in reference to the insurer's statement.

2019-05-23

RUSSIA: number of complaints against insurers decreased by 36% y-o-y

For the period from January to March 2019, the total number of complaints against insurers amounted to 12,200, which is 36% less y-o-y, according to the Bank of Russia.

2019-05-09

RUSSIA: ACRA affirms AAA(RU) for the Russian National Reinsurance Company

The Analytical Credit Rating Agency (ACRA) affirmed (RU), outlook stable for the Russian National Reinsurance Company (RNRC), the reinsurer informed.

2019-05-08

RUSSIA: first quarter net profit of ROSGOSSTRAKH exceeded RUB 1.3 billion

Net profit of ROSGOSSTRAKH for the first quarter, based on the Russian Accounting Standards, exceeded RUB 1.3 billion (~EUR 17.9 million), ASN reports.

2019-05-02

RUSSIA: May 7, 2019, ARIA starts checking insurer compliance with new mandatory standards

From May 7, 2019, the All-Russian Insurance Association (ARIA) will start checking insurer compliance with new mandatory standards related to operations on the insurance market and protecting consumer rights in insurance services, ASN reports.

2019-04-25

RUSSIA: rating of ROSGOSSTRAKH raised to ruAA-, outlook stable

The rating agency Expert RA upgraded the national rating of ROSGOSSTRAKH to ruAA-, outlook stable. Previously the insurer had ruA rating, outlook positive, as reported by ASN.

2019-04-25

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.