RUSSIA: in 2020, the insurance market supported the economy by increasing investments in government bonds and government debt by 24%

30 March 2021 — Marina MAGNAVAL
In 2020, total investments of insurers in government bonds and government debt amounted to RUB 1.838 trillion (~EUR 20.27 billion*), which is 24% more y-o-y, according to the president of the All-Russian Insurance Association (ARIA) Igor YURGENS, ASN reports.

The President of ARIA noted that "during the period of the budget deficit that arose in 2020, insurers significantly increased their investments in government debt and bonds, supporting the national economy. As a result, they became one of the most important investors - their total investments reached almost 10% of the total amount of the Russian government debt", he said.

Igor YURGENS explained that such support for the economy was possible thanks to maintaining the positive dynamics of the insurance market against the declining GDP, largely due to the timely and professional efforts of the regulator.

* at the following exchange rate:

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

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