RUSSIA: ROSGOSSTRAKH Life enters TOP-5 leaders in investment and accumulative life insurance

18 March 2021 —
ROSGOSSTRAKH Life entered the TOP-5 in investment and accumulative life insurance in 2020. The company's GWP in investment-cumulative life insurance, which is the core business of ROSGOSSTRAKH Life, increased by 1.5 times, and the insurer's net profit almost tripled, according to the company's website.

Total GWP of ROSGOSSTRAKH Life in 2020 reached RUB 19.99 billion (~EUR 0.22 billion*), of which over RUB 19 billion were generated under investment and accumulative life insurance contracts.

The company's share in the segment of investment-cumulative life insurance over the past year almost doubled to 6%, which allowed ROSGOSSTRAKH Life to enter the TOP-5 leaders by this indicator, the company said in its statement.

Net profit of ROSGOSSTRAKH Life at the end of 2020 exceeded the level of 2019 by 158%, reaching RUB 655 million, reserves - by 120% (RUB 34.72 billion), assets doubled and exceeded RUB 40 billion, total equity increased to RUB 3 billion.

"Two years ago, we entered the market under the new-old brand Rosgosstrakh Life. The goals set by our shareholder seemed extremely ambitious even then on the rapidly growing market of 2018. Today we can say that the company has successfully passed the stage of start-up and formation, despite the market conditions that have got worse. We built a multichannel distribution network, launched a comprehensive line of investment-cumulative products with a wide service component, doubled GWP in agency and corporate channels, intensified sales in all segments of the Group's bank and attracted 14 external market partners. All this allowed Rosgosstrakh Life to grow at a faster pace than the market and enter the TOP-5 largest life insurers in its segment", explained Alexey RUDENKO, General Director of ROSGOSSTRAKH Life.

* at the following exchange rate:

1 EUR = 90.6824 RUB (December 31st, 2020)

1875 views