RUSSIA: Net profit of Renaissance insurance group for 9 months exceeded RUB 7 billion

22 October 2021 — Marina MAGNAVAL
Net profit of the Renaissance insurance group for 9 months of 2021 increased by 3.4 times y-o-y, exceeding RUB 7 billion (~EUR 83 million*), ASN reports referring the insurer's statement (under the OSBU).

Profit from investment activities amounted to RUB 7.5 billion, which is 5.7 times higher y-o-y, according to Finmarket.

The group's GWP for 9 months amounted to RUB 32.56 billion, which is 23% more than in January-September 2020. At the same time, paid claims increased as well, by 24% to RUB 15.9 billion. Acquisition expenses increased by 26.4% to RUB 10.7 billion.

Renaissance Insurance Group is a consolidating company. The main activities are Motor Hull, MTPL, voluntary health insurance, travel insurance and property insurance of legal entities. The group's insurers are among the top 15 insurance companies on the Russian market.

* at the following exchange rate:

1 EUR = 84.3050 RUB (01.10.2021)

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