TOP-10 insurers of the Russian market in 2017

TOP-10 insurers of the Russian market in 2017

The TOP-10 Russian insurers in 2017 produced RUB 835 billion (EUR 12.12 billion) of GWP which is 9.4% more than in 2016, according to Central Bank statistics. Total claims amounted to RUB 329.7 billion (EUR 4.78 billion).

SOGLASIE Insurance company left the TOP-10 slipping to the 11th place. Its GWP reduced by 0.9% to RUB 32.9 billion (EUR 0.47 billion) and claims - by 2.4% to RUB 20 billion (EUR 0.29 billion).

TOP-10 ranking, GWP, claims, ratio, market share
Ranking
in 2017


Ranking
in 2016


Name

GWP 2017,
bln RUB


Change,
%


Claims, 2017, bln RUB

Change, %

Claim ratio, 2017, %

Market share, 2017, %

Market share, 2016, %

1

1

SOGAZ

158

10.7

75

5.2

47.5

12.4

12.1

2

5

SBERBANK Life
Insurance

102

55.9

5.3

32.5

5.2

8

5.5

3

3

RESO-Garantia

89.3

1.1

46.9

10.3

52.5

7

7.5

4

7

VTB Insurance

79.8

28.5

10.5

-17.3

13.1

6.2

5.3

5

4

INGOSSTRAKH

79

-8.8

42.8

7

54.2

6.2

7.3

6

2

ROSGOSSTRAKH

78.8

-36

79.1

18.8

100.4

6.2

10.4

7

6

AlfaStrakhovanie

72.5

15.5

28.5

-1.4

39.2

5.7

5.3

8

8

VSK

65.7

22.4

28.1

7.3

42.8

5.1

4.5

9

9

ROSGOSSTRAKH-Life

57.3

27.9

8.4

40.3

14.7

4.5

3.8

10

11

AlfaStrakhovanie-Life

52.5

71.3

5.2

22.4

9.9

4.1

2.6

In MTPL class the TOP-10 cut down GWP production 7.3% to RUB 173.9 billion (EUR 2.52 billion). The MTPL GWP of 61 companies, licensed to MTPL operations, totaled RUB 222 billion (EUR 3.22 billion), according to the statistics of the Central Bank of Russia. The MTPL claims of the TOP-10 insurers grew by 7.2% to RUB 143.9 billion (EUR 2.08 billion). The total MTPL claims in the market increased by 1.7%.

TOP-10 MTPL in 2017
Ranking

Name

GWP, 2017,
bln RUB


Change, %

Market share, 2017, %

Market share, 2016, %

Claims, 2017, bln RUB

Change,
%


Claim ratio, 2017, %

Claim ratio, 2016, %


Total for market

222

-5.2

100

100

175.5

1.7

79

73.7

1

RESO-Garantia

36.2

2.2

16.3

15.1

21.8

26

60.3

49

2

ROSGOSSTRAKH

31

-43.7

14

23.5

56.7

-20

182.7

128.4

3

INGOSSTRAKH

22.2

-21.6

10

12.0

16

36.7

72.7

41.7

4

VSK

21.6

6.1

9.7

8.7

14

9.3

65.1

63

5

AlfaStrakhovanie

18

33.9

8.1

5.7

8.2

8

45.6

56.5

6

SOGAZ

14.8

39.4

6.7

4.5

6.8

2.1

45.7

62.3

7

SOGLASIE

9

8.4

4.1

3.5

7.5

50

83.3

60.2

8

MAKS

8.1

32.1

3.7

2.6

5.3

26.2

65.8

69

9

RENAISSANCE
Insurance

7

33.4

3.2

2.2

3.7

37

52.7

51.8

10

YUZHURAL-Asko

6

22.5

2.7

2.1

3.8

8.6

62.7

71.6

Motor Hull total class in 2017 reduced by 4.8% compared to 2016 to RUB 162.5 billion (EUR 2.36 billion), according to the Central Bank. Motor Hull claims dropped by 14.5% to RUB 83.3 billion (EUR 1.2 billion).

TOP-10 Motor Hull in 2017
Ranking

Name

GWP, 2017, bln RUB

Change, %

Market share, 2017, %

Market share, 2016, %

Claims, 2017, bln RUB

Change, %

Payout ratio, 2017, %

Payout ratio, 2016, %


Total for market

162.5

-4.8

100

100

83.3

-14.5

51.3

57.1

1

INGOSSTRAKH

26.4

-8.9

16.2

16.9

12.8

-9

48.5

48.5

2

RESO-Garantia

25.6

-8.7

15.8

16.4

12

-12.7

47

49.2

3

ROSGOSSTRAKH

17.4

-24.5

10.7

13.5

11.7

-8.4

67.4

55.6

4

VSK

16.8

22.3

10.3

8

7.4

2.6

43.9

52.3

5

AlfaStrakhovanie

15.3

12.6

9.4

7.9

7.5

-7.1

48.9

59.4

6

SOGLASIE

13.6

0.3

8.4

7.9

8.5

-20

62.3

78.2

7

RENAISSANCE Insurance

8.3

-1.3

5.1

4.9

4.7

-11.3

56.5

62.9

8

SOGAZ

7.6

3.7

4.7

4.3

2.9

-10.9

37.3

43.4

9

ERGO

4.1

1.3

2.5

2.4

2.1

-5.6

50.8

54.5

10

ENERGOGARANT

3.5

17.3

2.1

1.7

1.6

1.2

46.8

54.3

As for Voluntary health insurance total GWP in 2017 increased by 1.6% to RUB 140 billion (EUR 2 billion). Claims also increased by 5.1% to RUB 105.8 billion (EUR 1.53 billion).

TOP-10 Voluntary health insurance in 2017
Ranking

Name

Premiums, 2017,
bln RUR


Change, %

Market share, 2017, %

Market share, 2016, %

Payouts, 2017, bln RUR

Change, %

Payout ratio, 2017,
%


Payout ratio, 2016,
%



Total for market

140

1.6

100

100

105.8

5.1

75.6

73

1

SOGAZ

52.8

19.2

37.8

32.2

46.2

22.2

87.4

85.3

2

RESO-Garantia

12.6

8.1

9

8.5

10.2

26.1

80.4

68.9

3

AlfaStrakhovanie

12

33.9

8.6

6.5

8.2

29.5

67.8

70

4

INGOSSTRAKH

8.5

10.1

6.1

5.6

6.2

-4.4

72.5

83.5

5

ALLIANZ-Life

6.6

-31.6

4.7

7

4.6

0.04

68.9

47.2

6

ROSGOSSTRAKH

6

-25

4.3

5.8

4.3

-2.3

72.1

55.4

7

RENAISSANCE Insurance

5.9

3.2

4.2

4.2

3.4

6

56.6

55.1

8

VSK

5.3

22.4

3.8

3.1

2.4

9.6

46

51.3

9

VTB Insurance

5.3

14.8

3.8

3.3

3

14.8

57.1

57.1

10

SOGLASIE

2.8

2.4

2

2

1.7

-10.2

61.7

70.3

  • Exchange rate as at December 31, 2017: 1 EUR = 68.8668 RUB
The full version of article can be read 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.

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

Share |

Related articles

RUSSIA: Motor Hull GWP increased by 3.8% y-o-y in 2018

Motor Hull GWP increased by 3.8% (from RUB 162.5 billion to RUB 168.7 billion) in 2018, while paid claims remained at almost the same level (RUB 83.2 billion vs RUB 83.3 billion a year ago), as regulator's data show.

2019-03-14

ON THE MOVE

Bulgaria: Boiko ATANASSOV appointed as FSC's head

The Parliament of the Republic of Bulgaria appointed Boiko ATANASSOV as Chairperson of the Financial Supervision Commission (FSC) on March 15, with 134 votes in favour, none opposed or abstained.

21.03.2019

TOP EVENT

Conclusions: TBILISI - the first Georgian International Insurance Conference

Today takes place in Tbilisi the first Georgian International Insurance Conference, an event that will put under scrutiny the current status and the future development perspectives of the local market, in an attempt of identifying the main growth opportunities. The forthcoming launch of the mandatory MTPL system is the most important topic on the agenda, as this new line of business has the potential to provide for a significant growth, but also to become a market disruptor.

14.03.2019

Motor insurance - becoming more financially efficient and consumer friendly

Under the strong pressure put by the technological evolution, the motor insurance business is rapidly changing, both in operational terms and, most visible, in the way insurers are interacting with their customers. Step by step, the insurers' relationship with customers evolves from simply indemnifying insureds for the losses suffered because of road incidents, to helping them prevent incidents and rapidly recover after the accidents that couldn't be avoided.

27.02.2019

See all