SBERBANK Life Insurance GWP increased by 76% in 2017

27 February 2018 — Marina MAGNAVAL
GWP of SBERBANK Life Insurance (based on a preliminary report) exceeded RUB 102 billion in 2017 (~ EUR 1.48 billion) which is 76.5% more than in 2016 in local currency, or 63.5% considering GWP figures denominated in euro. Total claims amounted to RUB 5.3 billion.

GWP in 2017 for unit-linked life insurance amounted to RUB 63.5 billion, for universal life insurance - 14.1 billion, for risk life insurance including credit insurance - RUB 24.4 billion. Total number of insured persons exceeded 9 million.

Number of paid claims in 2017 was 33 902 and total amount is equal to almost 50% of all claims paid by the company since 2012. Besides in 2017 the insurer started to pay matured endowments under survivor life insurance - total payment in 2017 amounted to RUB 400 million.

Company's assets in 2017 increased by 77% and amounted to RUB 184 228 billion. Actuarial reserves reached RUB 184 billion with y-o-y growth by 77%.

According to Alexey RUDENKO, the General Director, in 2017 SBERBANK Life Insurance first-ever entered the TOP-2 of Life Insurers in Russia, the growth rate in the life class exceeded Russian general market rate with one third market share. In 2018 the insurer plans to enlarge service components of insurance products including medical ones.

SBERBANK Life Insurance is a subsidiary of SBERBANK of Russia providing risk, universal and unit-linked life insurance. The insurer is among TOP-5 biggest Russian insurers with national rating class RAEX - ruAAA (Expert RA).

  • Exchange rate as at December 31, 2017: 1 EUR = 68.8668 RUB
  • Exchange rate as at December 31, 2016: 1 EUR = 63.8111 RUB

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