STATISTICS: CIS Region, 1H2020: Despite the impact of the Covid crisis, three markets of the region saw positive volume trends

29 October 2020 — Marina MAGNAVAL
In the first half of the year, GWP of the regional market (in euro) decreased by almost 9% y-o-y and amounted to EUR 11.48 billion, as the statistics, prepared by xprimm, show.

Despite the impact of the crisis caused by the pandemic, not all CIS markets recorded a drop in total GWP volume - the growth rate of the Azerbaijani insurance sector in euros was quite significant (+12.20%), Kazakhstan and Georgia also remained in the positive area according to the 1H2020 results. At the same time, the main market of the region - Russia reduced GWP in euros, which, first of all, is associated with a big depreciation of the local currency against euro, given that the share of this market in the regional portfolio remained practically unchanged.

On the paid claims side, the regional paid claims in general decreased by only 4.25% y-o-y, however, in the context of individual markets the dynamics of paid claims was quire diverse with the highest increase in Azerbaijan (almost 57%), and the largest drop in Georgia (-28.20%).

It is worth noting that the data of regional statistics for Tajikistan only includes data for 1Q2020, and there is no data on insurance in Turkmenistan in total due to the fact that the figures have not been published.

Access xprimm.com and download the latest 1H2020 CIS Statistics (in euro).

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