STATISTICS:

STATISTICS: Russia, FY2017: total market produced 8.3% of GWP more than last year

According to the official data, published by the Central Bank of Russia, in 2017 all the market produced GWP worth RUB 1.28 trillion (~ EUR 18.58 billion), which is 8.3% more than in 2016.

GWP growth rate in 2017 was recorded by 119 (57%) of insurers. The GWP leader is SOGAZ (RUB 158 billion or EUR 2.29 billion), followed by SBERBANK Life Insurance, RESO-Garantia, VTB Insurance and INGOSSTRAKH.

Total claims, if compared to 2016, increased only by 0.8% and amounted to RUB 510 billion (EUR 7.4 billion).


Life insurance has the largest share of the total market, almost 26%. The sector's growth amounted to 53.7%, RUB 331.5 billion (EUR 4.81 billion). Life insurance claims also increased by 21.7% to RUB 36.5 billion (EUR 0.53 billion). TOP-20 life insurers by GWP include SOGAZ at the 1st place, followed by SBERBANK Life Insurance and RESO-Garantia.


Non-life sector produced RUB 699.8 billion (EUR 10.16 billion), which is 0.8% less than in 2016. Non-life claims also sank by 2.3%. MTPL segment in 2017 sank by 5.2% with GWP equal to RUB 222 billion (EUR 3.22 billion). MOD segment produced 4.8% less than in 2016, and GWP leaders in this segment include INGOSSTRAKH, RESO-Garantia and ROSGOSSTRAKH.


Total number of authorized insurers in 2017 reduced by 9.2%, at that there are only 208 companies in the ranking which were actually active based on their FY result (attracted clients and produced premiums), while total number of authorized insurers is 237.
  • Exchange rate as at December 31, 2017: 1 EUR = 68.8668 RUB
A comprehensive analysis of the Russian insurance market's performance in 2017 will be available in the forthcoming issue of the specialized publication "INSURANCE Profile Russia FY2017", will be officially launched on April 10th.

The biannual bilingual publication (Russian and English) includes the FY2017 financial results of the insurance market, from GWP and mediated premiums to claims paid, but also aspects such as reinsurance statistical data, the insurance companies' GWP portfolios etc., as well as the status of the Russian reinsurance market and perspectives of reinsurance market alongside of the new partner - RNRC: statistical data and market opinions.


Access www.xprimm.com and download the FY2017 Russian insurance market statistics (in EUR and RUB).
  • Gross written premiums
  • Paid claims
  • Growth rates
  • Market rankings on the following classes: Total market, life, voluntary non-life, MoD, MTPL, property, mandatory insurance

Follow XPRIMM Publications on LinkedIn, for more data on the insurance and financial industry.

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