In 2025, the insurance market continued to grow, though at a slower pace compared to 2024. The market expanded by 6.90%, reaching RUB 3.97 trillion (EUR 43.18 billion), as noted by the Central Bank in its review of key insurer performance indicators.

In 2025, the ratios of GWP and insurer assets to GDP stabilized at 1.9% and 3.2%, respectively.

The market's growth rate slowed sharply y-o-y. According to the Central Bank, this slowdown is attributed to a decline in accumulative life insurance—a result of the "high base effect" from the second half of 2024, when demand in this segment surged due to tax arbitrage opportunities between life insurance products and bank deposits. Consequently, accumulative life insurance declined y-o-y during 3Q2025 and 4Q2025.

Investment life insurance continued to grow at a rapid pace in 2025, driven in part by insurers' active promotion of these products. This growth offset the decline in accumulative life insurance, resulting in an overall increase in non-credit life insurance products for FY2025.

A decline was observed in borrower insurance and compulsory motor insurance. In the borrower insurance segment, the decline was driven by a reduction in new loan issuances amidst tightened monetary conditions; in the MTPL segment, it was caused by lower policy costs—a trend influenced, among other factors, by increased competition among insurers. Nevertheless, both segments recorded positive year-on-year dynamics during 4Q2025.

Among the market's major segments, an increase was observed in property insurance and Motor Hull. The growth in Motor Hull was recorded despite a decline in new car sales. This is partly attributable to expanding demand from individuals for comprehensive motor insurance coverage for used vehicles.

The insurance market's net profit for 2025 rose by 8.5% compared to 2024, reaching RUB 502.3 billion. Profits from investment and financial activities were the primary contributors to this improved financial performance. This was driven primarily by an increase in interest income—stemming from a growing share of bonds within insurers' asset portfolios—which more than offset losses resulting from negative foreign exchange revaluations of assets.

Market concentration has increased. Total market share of the top 20 insurers by GWP reached 91.1% (+1.1 percentage points). In terms of GWP, SBERBANK Life Insurance continues to lead the market (RUB 1.03 trillion); it remains the only player in the market to hold a double-digit share—exceeding 26%. AlfaStrakhovanie-Life keeps its second place (RUB 350.40 billion), while SOGAZ-Life climbed to third (RUB 329.91 billion).

Access xprimm.com and download the latest Russian insurance market statistics for FY2025 in EUR and RUB.