RUSSIA: ROSGOSSTRAKH saw the most impressive growth among TOP-3 MTPL leaders for 9 months of 2021

1 November 2021 —
ROSGOSSTRAKH's GWP in MTPL from January to September 2021 grew by 20.5% to RUB 23 billion (EUR 0.27 billion*), while the growth rate of the segment's leader - RESO-Garantia was only 6% (to RUB 29.3 billion).

GWP of AlfaStrakhovanie, which ranks second in MTPL, increased by 10% to RUB 26.4 billion, ASN reports based on the statistics from the Russian Association of Motor Insurers (RAMI).

Five market leaders collected RUB 112.4 billion, which is equivalent to about 65% of the total MTPL GWP. The first place still belongs to RESO-Garantia, while the leader's paid claims, according to the RAMI data, increased to RUB 17.2 billion (+23.5%). AlfaStrakhovanie ranks second in terms of GWP, at that the company paid RUB 14.5 billion (-8.2%). ROSGOSSTRAKH saw a significant GWP increase, while its paid claims also increased to RUB 15.4 billion (+19.9%).

"GWP growth of ROSGOSSTRAKH is due to the transition to free pricing in MTPL, which made it possible to apply a more balanced tariffication. Clients have become more careful in choosing an insurance company and increasingly choose ROSGOSSTRAKH, since we set the fairest price, considering individual characteristics of our clients and their vehicles", commented to ASN Director of MTPL Portfolio Management at ROSGOSSTRAKH, Yuri STREKALOV.

INGOSSTRAKH ranks fourth on the MTPL market, with GWP growing by 14.7% to RUB 20.4 billion in 9 months of 2021. In fifth place is VSK, MTPL sales of which decreased by 14% to RUB 13.3 billion, while paid claims also decreased by 14.5% to RUB 8.9 billion.

The number of policies sold reached 31 million for the period. According to the RAMI data, total MTPL GWP in January-September 2021 exceeded RUB 173.1 billion (+7.7% y-o-y), and paid claims reached RUB 103.7 billion (+4.2%). The RAMI also noted that the number of insured events in MTPL increased by 14% (1.38 million in 9 months of 2021 vs 1.21 million in the same period of 2020).

* at the following exchange rate:

1 EUR = 84.3050 RUB (01.10.2021)



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