STATISTICS: XPRIMM Insurance Report 1H2017: CIS insurance markets totaled EUR 11.5 billion by mid-year

5 October 2017 — Vlad BOLDIJAR
The CIS insurance market totaled about EUR 11.5 billion at the end of June 2017, up by 14.3% y-o-y, according to the preliminary figures centralized by XPRIMM. Claims paid increased by about 17%, to EUR 4.6 billion.

As in previous reporting periods, the largest insurance market in the region was Russia (gross written premiums of EUR 9.6 billion - over 83% of the total), giving the regional trend. Top 3 was completed by Ukraine (EUR 712 million) and Kazakhstan (EUR 557 million), while the lowest regional markets in terms of GWP were Armenia (EUR 31 million) and Moldova (EUR 32 million).

In terms of GWP growth rates, the largest increases was reported by the Ukrainian insurance market (over 20%), while the largest decrease was registered by the insurance market of Azerbaijan (-15 %) - due the depreciation of the national currency against euro.

According to the forthcoming XPRIMM Insurance Report, the largest insurers in each CIS market were as follows:
  • Armenia: ROSGOSSTRAKH Armenia (GWP: EUR 9 million, market share 28.9%)
  • Azerbaijan: PASA Hayat (EUR 41 million, 28.8%)
  • Belarus: BELGOSSTRAKH (EUR 111 million, 46.6%)
  • Georgia: GPI Holding (EUR 23.5 million, 26%)
  • Kazakhstan: EURASIA (EUR 90.4 million, 16.2%)
  • Moldova: DONARIS VIG (EUR 4.9 million, 15.4%)
  • Russia: SOGAZ (EUR 1.55 billion, 16.2%)
  • Ukraine: CREMEN (EUR 70.3 million, 10%)
The forthcoming issue of XPRIMM Insurance Report 1H2017 - containing the financial results for the first half of 2017, will be officially launched on October 22nd, during the Baden-Baden XPRIMM Reception.

Access and download the 1H2017 CIS insurance market statistics.