The CIS regional insurance market* ended 2021 with growth of more than 28% in European currency. Total GWP volume exceeded EUR 26.62 billion.
On the other hand, increase in paid claims was also quite significant - almost 22%. And their volume reached EUR 10.56 billion, according to xprimm statistics.
Among the markets for which annual data are available for comparison, the most rapid growth was observed in Kazakhstan - by almost 52%, and the share of this market in the regional portfolio exceeded 6%. It is worth noting the market of Kyrgyzstan, which remained at the level of 2020 and recorded neither a fall nor an increase.
The region's leader - Russian insurance market grew in euros by almost 27% to EUR 21.50 billion, however, its share in the total volume of the region slightly decreased.
Paid claims saw an increase in almost all markets under analysis, except for Kazakhstan, where they decreased by 7.82%. At the same time, the most significant increase was recorded by the Kyrgyz market, which at the same time is the smallest market in the region in terms of volume.
* data for Turkmenistan and Tajikistan are not included, data for the markets of Ukraine and Uzbekistan include estimated data for YE2021 (based on 3Q2021 vs 3Q2020 growth rates in local currency and transformed into EUR) and YE2020 figures
Access xprimm.com and download the latest CIS regional insurance market statistics (in EUR).