In the first half of 2025, the insurance market increased by more than a third, to RUB 1.76 trillion (EUR 19.14 billion). Market growth was supported by investment and accumulative life insurance (their share amounted to 52.2% on the market), the Central Bank notes in the review of key performance indicators of insurers.

The remaining segments in the reporting period in total decreased by 1.3% - mainly due to a reduction in the borrower insurance segment. In non-life insurance, the main growth came from insurance of other property of legal entities and individuals, as well as motor insurance.

The GWP increase in non-credit life insurance was supported by active sales of short-term programs, including those with large premiums. A reduction was observed in borrower insurance following a decrease in the volume of issued loans. Growth was recorded in property insurance and motor insurance. Motor insurance grew despite a decline in sales of new cars, and this is explained by expansion of demand from individuals, including Motor Hull for used cars.

Total paid claims in the first half of the year almost doubled, to RUB 1.15 trillion (EUR 12.55 billion). The Central Bank notes that an increase of paid claims in life insurance was mostly observed in accumulative insurance, while in non-life insurance an increase in paid claims was driven by Motor Hull and voluntary health insurance.

The number of complaints about insurers in the first half of the year decreased by 47%, largely due to a reduction in the number of template complaints about disagreement with the bonus-malus coefficient for MTPL. The number of complaints about life insurance also decreased, despite the rapid growth of the segment.

The net profit of the insurance market in the reporting period increased compared to last year, which led to an increase in profitability. The main contribution to the financial result was made by profit from investment and financial activities. This is primarily due to an increase in interest income, which offset the loss from negative currency revaluation of assets. In the context of the growing Russian debt market, associated with expectations of a reduction in the key rate and easing of geopolitical tensions, insurers also received profit from positive revaluation of financial instruments.

Among insurers, in terms of GWP, SBERBANK Life Insurance (RUB 465.95 billion) continues to lead the market, with a y-o-y growth rate of 177%. SOGAZ-Life rose to second place, increasing its GWP by 180%, while SOGAZ ranked third.

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