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RUSSIA: higher amount of life and health indemnities may lead to 15% increase in MTPL claims
From January to September 2019, the paid claims for life and health in MTPL events amounted to 5% of all the segment's paid claims, ASN reports.
2019-10-16RUSSIA: Igor YURGENS remains the president of ARIA for the next three years
At a meeting of the All-Russian Insurance Association (ARIA) on October 7, it was decided to re-elect Igor YURGENS as the President of ARIA for three years term. YURGENS was approved as a candidate by the Central Bank of Russia in August, ASN reports.
2019-10-08RUSSIA: European Accident Statement within full MTPL amount is available throughout the country from October 1
According to RAMI (Russian Association of Motor Insurers), from October 1 possibility to receive reimbursement within full MTPL insurance amount for the risk of damage to property will be available throughout the whole country. Before this possibility was given only to four territories.
2019-10-03RUSSIA: ROSGOSSTRAKH Life launched an innovative life insurance product
ROSGOSSTRAKH Life launched sales of a new product that combines elements of investment and universal life insurance, ASN reports.
2019-10-03RUSSIA: VTB Life Insurance to transfer voluntary insurance portfolio to SOGAZ-Life
VTB Life Insurance will transfer its voluntary life insurance and personal insurance contracts to SOGAZ-Life in 2019, ASN reports, with reference to the information published on September 20 by the Bank of Russia.
2019-09-26STATISTICS: RUSSIA, 1H2019: market GWP remained almost unchanged while paid claims increased by more than 21% in local currency
For the 1H2019, GWP of Russian insurers reached about RUB 739.3 billion (~EUR 10.3 billion), thus exceeding the 1H2018 level by only 1%.
2019-09-19RUSSIA: regulator included NRA and NCR into the register of rating agencies
The National Rating Agency (NRA) and the National Credit Ratings (NCR), on September 12, were included by the Central Bank into the register of Russian rating agencies, thereby increasing the total number of accredited rating agencies in the register from 2 to 4, ASN reports.
2019-09-19RUSSIA: new law on housing insurance for emergency situations may help significantly reduce recovery costs
On August 4, 2019, the law on housing insurance for emergency situations came into force, according to which regional authorities can develop their own insurance programs, ASN reports. Under it, homeowners may get coverage not only for natural risks, but also for manmade or technological risks as fire, gas explosion etc.
2019-09-10RUSSIA: combined MTPL and Motor Hull policy for convenience and insurance cost decrease
On September 4 the Bank of Russia published a draft regulation on the minimum requirements for combined MTPL and Motor Hull insurance products, which allows the addition of Motor Hull clauses directly into the MTPL policy without making a separate contract, ASN reports.
2019-09-10RUSSIA: total insured area of agricultural crops increased 5 times in the first 7 months of this year
National Association of Agricultural Insurers (NAAI) announced improvements in the Russian agricultural insurance business, for the first seven months of 2019. The total insured area was of 2.8 million hectares, 5 times the size of the same period of prior year.
2019-08-29RUSSIA: driver with life insurance change: investment life insurance decreased by 32% y-o-y in the first 6 months
From January-June, according to preliminary data, investment life insurance decreased by 32% y-o-y and now occupies 46% of the sector (vs 62% a year ago), its GWP amounted to RUB 92.3 billion, ASN reports.
2019-08-22RUSSIA: Growth of more than 58% y-o-y for ROSGOSSTRAKH's H12019
From January to June 2019, ROSGOSSTRAKH's total net profit increased by 58.3% y-o-y, to RUB 3.8 billion (~EUR 52.91 million), ASN reports.
2019-08-22GENERALI to increase its influence in Russia and post-Soviet markets
Giorgio CALLEGARI, Chairman and CEO of GENERALI Russia & CIS declared in an interview for Interfax that in forthcoming years the Italian insurer plans to develop its presence in Russia and other CIS markets.
2019-08-21RUSSIA: Ex-heads of Rosgosstrakh suspected of withdrawal of funds
2019-08-20RUSSIA: VSK's rating improved to BB
Fitch Ratings improved the financial stability rating of VSK from BB- to BB, outlook stable, ASN reports.
2019-08-06RUSSIA: Gennady GALPERIN head of ROSGOSSTRAKH from July 20
Gennady GALPERIN was elected to the position of CEO by the Board of Directors of the company, effective July 20, 2019, ASN reported.
2019-08-05RUSSIA: In 1H2019, MTPL GWP decreased by almost 5%, while paid claims increased by almost 9%
According to preliminary data, in 1H2019, MTPL GWP decreased by 4.7% y-o-y, while the total number of MTPL policies rose by 0.8%, reported Igor YURGENS, President of the Russian Association of Motor Insurers (RAMI).
2019-08-05RUSSIA: from January-June the accrued reinsurance premium of RNRC increased by 21% y-o-y
For the first half of the year, accrued reinsurance premium of the Russian National Reinsurance Company (RNRC) amounted to RUB 7.59 billion (~EUR 0.1 billion), which is 21% more y-o-y, the reinsurer reports.
2019-08-05RUSSIA: in 1Q2019, inward reinsurance increased by 22% y-o-y; outward by 4%
Inward reinsurance in 1Q2019 increased by 22% y-o-y (vs 24% a year ago), according to an official announcement from the national reinsurer.
2019-07-18RUSSIA: RNRC announces appointment of new President - Natalia KARPOVA
Natalia KARPOVA, previous RNRC Deputy Chairman of the Board, was appointed as RNRC (Russian National Reinsurance Company) President, Chairman of the Board effective from July 1, 2019 based on the resolution of the Central Bank of Russia, as the company reported on its website.
2019-07-11
