Among the markets for which data is available for comparison, the most significant increase in premiums was recorded by the market of Kyrgyzstan (+54.27%), the second place was taken by the Armenian market, and the third by Georgia. The insurance sector of Kazakhstan grew the least, while markets such as Belarus, Russia and Ukraine recorded a drop in premiums. Since the Russian insurance market is the leader in the region, accounting for over 80% of the regional portfolio, its decline in euros led to a negative result for the regional market in general.
It is worth noting that paid claims remained almost unchanged, total volume amounted to EUR 2.48 billion. Paid claims increased the most in the Kyrgyz market (by more than 111%), while Azerbaijan saw the largest decrease in paid claims in euros.
*does not include data for Turkmenistan, Tajikistan, and Uzbekistan.
Access xprimm.com and download the CIS regional insurance market statistics for 1Q2022 (in EUR).