SBERBANK Life Insurance - 47% increase of the net profit in 2017

4 April 2018 — Marina MAGNAVAL
According to the official insurer's report in 2017 net profit of SBERBANK Life Insurance amounted to RUB 13.3 billion (EUR 0.19 billion), which is 47% more than a year before. Total assets jumped by 78% to RUB 228 billion (EUR 3.31 billion).

"Net profit growth in 2017 comes from significant business development in the line of investment and universal life insurance as well as stable development of credit insurance, - said Mikhail EROFEEV, Financial director of SBERBANK Life Insurance, - positive dynamics, as compared to the previous period, shows quantum growth of the company, improvement of financial solvency and strength. This in its turn secures fulfillment of liabilities to customers across all insurance classes as well as confirms company's ability to ensure stable result for its shareholders".

SBERBANK Life Insurance is a subsidiary of SBERBANK of Russia, providing risk, universal and investment life insurance. The insurer is the leader of the Russian life market and is included in TOP-5 biggest companies of general insurance in Russia. RAEX rating (by Expert RA) - ruAAA. General Director is Alexey RUDENKO.

  • Exchange rate as at December 31, 2017: 1 EUR = 68.8668 RUB
A comprehensive analysis of the Russian insurance market's performance in 2017 will be available in the forthcoming issue of the specialized publication "INSURANCE Profile Russia FY2017", will be officially launched on April 10th.

The biannual bilingual publication (Russian and English) includes the FY2017 financial results of the insurance market, from GWP and mediated premiums to claims paid, but also aspects such as reinsurance statistical data, the insurance companies' GWP portfolios etc., as well as the status of the Russian reinsurance market and perspectives of reinsurance market alongside of the new partner - RNRC: statistical data and market opinions.

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