Climate: - ranges from steppes in the south through humid continental in much of European Russia; - subarctic in Siberia to tundra climate in the polar north; - winters vary from cool along Black Sea coast to frigid in Siberia; - summers vary from warm in the steppes to cool along Arctic coast.
Natural hazards: - permafrost over much of Siberia is a major impediment to development; - volcanic activity in the Kuril Islands; - volcanoes and earthquakes on the Kamchatka Peninsula; - spring floods and summer/autumn forest fires throughout Siberia and parts of European Russia.
The international rating agency Fitch Ratings has improved the Financial Strength Rating Outlook of AlfaStrakhovanie from negative to stable. The rating is confirmed at BB +, writes ASN with reference to the agency's release.
In 2020, GWP of the life insurance sector exceeded RUB 450 billion (~EUR 4.95 billion*), which is 4.1% more y-o-y, while the sector's paid claims increased 1.5 times to RUB 211 billion, according to the data, the All-Russian Insurance Association (ARIA) received from 23 life insurers, as the press service of the association reports.
According to the President of the National Association of Agriculture Insurers (NAAI) Korney BIJDOV, at the moment, in a number of large agricultural regions insurance coverage of crops has grown from 22% to 46%, NAAI said on its website.
The leaders of the Russian voluntary health insurance market expect an increase in the voluntary health insurance loss ratio due to deferred demand, an increase in the cost of treatment per insured person and an increase in the level of medical inflation, writes ASN quoting the insurance broker GrECo International.
Andrey LARKIN was elected the new general director of INGOSSTRAKH by the decision of the board of directors, according to the company. He will also become the Chairman of the company's Management Board.
AM Best has affirmed, on 22 January, the Financial Strength Rating of B- (Fair) and the Long-Term Issuer Credit Rating of "bb-" of ROSGOSSTRAKH Insurance Company, OJSC (RGS) (Russia). The outlook of these Credit Ratings (ratings) is stable.
SBERBANK Insurance, one of the TOP-20 local insurers, renewed the obligatory reinsurance treaty of property and builder's risks and doubled the program capacity to RUB 10 billion (EUR 0.11 billion*), the insurer reports.
On January 27, 2021, the first conference "InsurSelling-2021. Insurance sales - strategy and tactics, transformation and evolution, myths and reality", organized by "Insurance Today" in a mixed, online-offline format, in which some of the speakers gather in a specialized studio, and all other speakers and participants take part in the online mode, will take place in Moscow.
The long-term issuer credit rating of ROSGOSSTRAKH affirmed at BB, outlook stable, despite the extremely high dividends of RUB 12.2 billion (~EUR 0.13 billion*), that the company will pay to its parent financial corporation in 2021, the press-release of S&P Global ratings said.
For the last 9 months of 2020 the market reached RUB 1.1 trillion/EUR 12.21 billion* (+3.1% in local currency), according to the data published by the Bank of Russia. The results were significantly impacted by the drop during the second quarter due to restrictive measures related to the pandemic.
The average commission of insurance brokers from January to September 2020 amounted to 14.6% - the lowest among the five main sales channels through insurance intermediaries, ASN reports according to the head of the Council of the Association of Professional Insurance Brokers Katerina YAKUNINA.
For the period from January to September 2020, GWP of the TOP-10 MTPL insurers increased by 7.4%, to RUB 135 billion (EUR 1.46 billion*), and their share in the segment reached 82.3% (vs 81.7% a year ago), ASN reports according to the Bank Russia.