Location map
author: OCHA/ ReliefWeb

- Northern Asia (the area west of the Urals is considered part of Europe), bordering the Arctic Ocean, between Europe and the North Pacific Ocean.
- Neighbours: Norway, Finland, Estonia, Latvia, Lithuania, Poland, Belarus, Ukraine, Georgia, Azerbaijan, Kazakhstan, Mongolia, China, North Korea.

- 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.

Macro indicators
* 2018 estimates
Pop. density*:8.4people/km2
GDP*:1,286.1EUR billion

Currency: Ruble
Code: RUB
Since: 1998

Insurance market portfolio
* 2018 estimates
Overall Property*:24%




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Russia 3Q2022 Market Portofolio

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Russia 1H2022 Market Portfolio

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Latest news

STATISTICS: RUSSIA, 3Q2022: profit of the insurers drops by more than 31% y-o-y in 9M2022

At the end of 3Q2022, the market saw a slight decrease, amounting to RUB 1,327.93 billion (EUR 23.96 billion). It is worth noting the rapid growth in the European currency due to the positive dynamics of the ruble exchange rate against the euro (from ~84 rubles / euro in 2021 to ~50 rubles / euro at the end of September 2022), according to the market data published by the Central Bank.

SCOR's Q1 2022 results will be impacted by the conflict in Ukraine

French reinsurer SCOR announced, its Q1 2022 results will be impacted by the conflict in Ukraine. "Since the beginning of the war in Ukraine on 24th February 2022, SCOR has been closely monitoring the unfolding of events, and the resulting potential impact of the conflict and related international sanctions on its activity".

STATISTICS: Russia, FY2021: life insurance segment continued to grow, its share in the market portfolio reached 29%

The Russian insurance market grew by 17.52% in 2021 supported by recovery in economic activity after 2020. GWP increased in all major segments, and more than a third of the growth came from insurance related to lending to individuals, about a third - from investment and accumulative life insurance, according to a review of key performance indicators of insurers published by the Central Bank.

Russian insurers downgraded on severely adverse macroeconomic climate

S&P Global Ratings said on 7 March 2022 that it has taken negative rating actions on its rated Russian insurers, reflecting the agency's view of the heightened likelihood of financial and business vulnerability caused by rapidly escalating geopolitical and economic risks in Russia and follow the lowering of the Russian sovereign rating to CCC-.

RUSSIA: in 2021, SberLife Insurance had a record amount of paid claims

In 2021, SberLife Insurance generated RUB 155.7 billion (EUR 1.85 billion*) of GWP, which is 46.8% more y-o-y. Accumulative life insurance continues to hold the largest share in the insurer's portfolio (RUB 67.7 billion or 43% of the total volume, +20.4%), according to the insurer's press service.

RUSSIA: NAAI: in 2021, the agroinsurance market will reach at least RUB 9 billion

According to the National Association of Agriculture Insurers (NAAI), in 2021, the market of subsidized agroinsurance again saw positive dynamics: GWP increased to RUB 7.7 billion (EUR 91.59 million*), of which RUB 5.5 billion came from insurance of crop risks, RUB 2.2 billion - from livestock insurance, and RUB 0.1 billion rubles - from insurance of commercial aquaculture, according to NAAI.

RUSSIA: SberLife Insurance made over 100,000 payments for credit insurance in 2021

In January-December 2021, SberLife Insurance made 100.2 thousand payments for insured events under voluntary life insurance contracts of borrowers of consumer and mortgage loans, and total amount of paid claims reached RUB 11.687 billion (~EUR 0.14 billion*). The number of claims increased by 29.4%, and amount - by 42.3% y-o-y, according to the insurer's press release.