Russia

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Location map
author: OCHA/ ReliefWeb


Location:
- 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.

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.

Macro indicators
* 2018 estimates
Surface:17,125,191km2
Population*:144.0million
Pop. density*:8.4people/km2
GDP*:1,286.1EUR billion
GDP/capita*:8,933.1EUR

Currency: Ruble
Code: RUB
Since: 1998


Insurance market portfolio
* 2018 estimates
TOTAL LIFE*:31%
TOTAL NON-LIFE*:69%
Overall Property*:24%

Sources:




 


Statistics

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Russia 1H2021 Market Portofolio

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Russia 1H2021 Insurance Companies Ranking


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Latest news


RUSSIA: S&P improves the long-term ratings of ROSGOSSTRAKH

S&P Global Ratings has improved the financial strength rating and the credit rating of ROSGOSSTRAKH to BB +, with a stable outlook on the ratings. Since October 2020, the oldest insurer in Russia (the company celebrates its 100th anniversary in 2021) has had BB ratings. In April 2021, the agency improved its rating outlook to positive, the insurer said in a press release.



RUSSIA: SberInsurance received a rating from S&P

The international rating agency S&P has assigned SberInsurance, one of the leaders of the Russian market, a financial strength rating at BBB- with a stable outlook. The agency expects that in the future the company's capital will reach a level corresponding to the rating of BBB, the insurer said in its press-release.


AM Best Affirms Credit Ratings of GIC Perestrakhovanie LLC

AM Best has affirmed the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of "bbb" (Good) of GIC Perestrakhovanie LLC (Russia) (GIC Re Russia). The outlook of these Credit Ratings (ratings) is stable, the agency announced.

STATISTICS: RUSSIA, 1H2021: GWP grew by 21%, however, insurers' profit dropped y-o-y

The insurance market in 2Q exceeded the result of the same period last year as well as pre-covid levels. Total GWP for the first half of 2021 amounted to RUB 894.2 billion rubles (+21% y-o-y)/EUR 10.37 billion, according to the data published by the Bank of Russia. Market paid claims increased to RUB 384.5 billion (+29.6%).






RUSSIA: GWP of the ROSGOSSTRAKH group increased by more than 20% y-o-y in 1H

GWP of the ROSGOSSTRAKH group, included in the TOP-10 insurers, in 1H2021 reached RUB 60.5 billion (~EUR 0.7 billion*), which is 20.5% more y-o-y in local currency, and the profit amounted to RUB 1.5 billion, ASN reports with reference on the data of the group's interim consolidated financial statements (non-life insurance company ROSGOSSTRAKH and life insurer ROSGOSSTRAKH Life).