The company ranked 5th in the life insurance market in terms of GWP, one position up in the ranking of life insurers compared to 1H2020. The company's premiums in the priority business of investment-accumulative life insurance amounted to RUB 11.3 billion (also the 5th place in the market), showing an increase of 25% y-o-y, the press release says.
The net profit of ROSGOSSTRAKH Life in the first half of 2021 exceeded RUB 867 million (vs RUB 129 million for the same period last year). The reserves amounted to RUB 43.75 billion (vs RUB 24.2 billion as of June 30, 2020), assets reached RUB 49.4 billion (vs RUB 23 billion in 1H2020). The company's equity capital amounted to RUB 3.6 billion.
"The company continues to grow despite market turbulence. It is too early to predict the results of the year, since the situation in life insurance today is under influence of many rapidly changing factors: namely an increase in interest rates, the regulation, for example, 5055U, a new regulation on solvency and changes in the market legislation for professional participants (changing access to complex investment products)", noted Alexey RUDENKO, the general director of ROSGOSSTRAKH Life.
* at the following exchange rate:
1 EUR = 86.5118 RUB (01.07.2021)
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