STATISTICS: CIS Region, 1Q2020: Tajikistan's insurance sector almost doubled in size, while most regional markets recorded negative results

6 August 2020 — Marina MAGNAVAL
In the first quarter of 2020, the overall CIS regional market decreased in GWP volume by 3.8% y-o-y (after currency conversion to EUR). Total regional GWP reached approximately EUR 6.09 billion*, according to one of XPRIMM latest statistical analysis.

Most CIS markets recorded a decline of premiums y-o-y, including the largest CIS market - Russia (-4.5%). However, despite the unfavorable economic situation, which began to develop in March due to the coronavirus pandemic, some markets were able to complete the first quarter with positive results - Tajikistan (+99.9%), Azerbaijan (+21.9%), and Kazakhstan (+16.9%).

Total regional paid claims increased really slightly - by only 1.87% y-o-y, as some markets recorded a drop of paid claims, such as Georgia (down by almost 15%), Moldova (-12.5%), Uzbekistan (-12.4%) and Russia (-2.8%).

* It should be noted that regional data does not include statistics of Turkmenistan, and the data on the Kyrgyz insurance market represents the period from January to May 2020.

The latest CIS statistics are available to download at 1Q2020 CIS Statistics (in euro).

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