The regional insurance market of the former USSR countries* in the first half of 2024 in euro grew by 22.22%, total GWP amounted to EUR 17.57 billion, according to xprimm statistics.

Russia occupies the largest share in the regional premium portfolio and its share increased to 79.65%, amounting to almost EUR 14 billion. The growth rate of the Russian insurance market in euros y-o-y reached 24%. However, the markets of Kyrgyzstan and Kazakhstan rose even more in euros (27.27% and 25.99%, respectively). Moldova, Georgia, Belarus and Azerbaijan also recorded double-digit growth rates, while only Armenia had a negative result.

Regional paid claims increased, same as GWP, by 22%, reaching EUR 7.55 billion. The largest increase here was seen in Azerbaijan (+61.54%) and Georgia (+49.25%), while the smallest in Belarus. It is worth noting that in euros, growth in paid claims was observed in all the markets in the region under review.

*no data for Turkmenistan and Tajikistan, also Estonia, Latvia and Lithuania are not included in the regional analysis

Access xprimm.com and download ex-USSR regional insurance market statistics for 1H2024 (in euros).