Click HERE to download the FY2015 CIS aggregate market figures.
- Aggregate GWP portfolio & per countries;
- Aggregate claims portfolio & per countries;
- Market shares.
- Benefiting from the positive results recorded on the voluntary types of insurance, the Armenian insurance market saw a y-o-y GWP increase of 4.3% in 2015. Moreover, it recorded a record net profit in past five years, reaching to AMD 2.5 billion, up by 71% y-o-y, according to ArmInfo News Agency. (More details HERE)
- In 2015, the GWP collected by Azeri insurers reached to AZN 442.91 million, up by 3.2% y-o-y. Due to strong devaluation of the local currency (AZN) against USD/EUR, by almost 80%, in the European currency the market decreased by 42.35%, to EUR 259.83 million. (More details HERE)
- As most CIS countries Belarus was exposed to macroeconomic shocks caused by the deepening crisis, the oil price fall and its dependence on the Russian economy and the Russian ruble exchange rate. Total GWP by the Belarussian insurance market last year have risen by 12% y-o-y, to BYR 8,139 billion. In European currency, due to the local currency devaluation, the market figures show a quite different trend in GWP terms: EUR 400 million, or 20.66% less y-o-y. (More details HERE)
- The Georgian insurers ended 2015 in black, as gross written premiums increased by 19% y-o-y to GEL 360 million (EUR 137.5 million). Up until December 2015, in the Georgian market operated 14 companies. (More details HERE)
- Despite the worsening economic situation of Kazakhstan, in 2015 local insurers were able to return to growth in GWP unlike the previous years (decrease by 4.64% in 2014). Thus, in the analyzing period, the GWP reported by insurers totaled KZT 288 billion, up by 8%. Denominated in European currency, insurance business decreased by 35%, as a result of the KZT (national currency, Tenge) devaluation against EUR/USD. (More details HERE)
- At the end of December 2015, the Moldavian insurance market totaled MDL 1.2 billion (about EUR 58.8 million), up by 2.1% y-o-y. In euro, the y-o-y rate was negative: -9%. Claims paid by the 15 insurers that have reported operations totaled MDL 386.6 million - equivalent to 31% of the total GWP. (More details HERE)
- In 2015, the GWP of Russian insurers increased by 3.65% y-o-y, showing the slowest market growth pace since 2009., which in real terms translates in a negative change y-o-y. The GWP growth was only possible due to MTPL tariffs increase. In European currency, the Russian insurance market decreased by more than 11% to EUR 12.billion.
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- During the last five years, the Ukrainian market saw a steady growth in local currency, except for the year 2014. In 2015 the volume of GWP earned by insurers has shown a double digit growth, up by 11.1%. However, denominated in European currency, the market GWP went down by 19%, making experts to appreciate that "in 2015 were not impressive dynamics". (More details HERE)
- In 2015, the aggregate volume of GWP reported by the Uzbek insurers was of UZS 551 billion (or EUR 181 million), up by almost 25.59% y-o-y. Of the 31 active insurers, positive rates in terms of GWP were reported by 26 companies. By types of insurances, the share of voluntary policies decreased by 3.39 pp to 66.15%, while the mandatory classes accounted for the remaining 33.85%. (More details HERE)
More about the CIS insurance market evolution in FY2015 will be available in the forthcoming issue of XPRIMM Insurance Report FY2015, to be released on May, 15th, on the occasion of the FIAR - THE INTERNATIONAL INSURANCE-REINSURANCE FORUM (Brasov, Romania, May 15-19).