STATISTICS: CIS, 3Q2019: Azeri market faced negative dynamics while Ukraine achieved impressive growth

23 January 2020 — Marina MAGNAVAL
By the end of 3Q2019, the GWP in euro of the CIS regional insurance market recorded a total growth of 12.73% year-on-year, though the dynamics of the individual markets were quite heterogeneous, as the data collected and analyzed by XPRIMM show.

In some of the CIS markets, the y-o-y growths in European currency at the end of September 2019 were very impressive thanks to more favorable exchange rates of local currencies compared to the same period of 2018.

The highest GWP growth rate was observed in Ukraine (+46.31%). The Azeri market in euro dropped by 2.14%, being the only market which shrunk at the end of the third quarter of 2019; Azeri life sector's GWP (39% market weight) decreased by 22.37% in local currency, nullifying the positive effects in the market of the 4.18% growth of non-life segments.

Total paid claims of the regional market increased by almost 30% y-o-y. The highest growth of paid claims in euro was recorded by the Georgian market (over 84% growth y-o-y), while Azerbaijani insurers faced a more conservative evolution of the claims, recording the smallest growth of paid claims in the whole region (+14%).

The share of the regional leader, Russia, in the regional market portfolio decreased slightly to 81.09%. Some CIS markets (5 out of 12) recorded weak but positive evolutions of their GWP shares in the region. At the same time, the regional shares of Tajikistan (0.08%) and Kyrgyzstan (0.05%) remained almost the same as the year before.

Access and download 3Q2019 CIS Statistics (in EUR).

Regional statistics (in euro):
  • GWP
  • Paid claims
  • Regional market shares

Individual CIS markets 3Q2019 statistics:

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