Paid claims in the segment at the end of September 2020 amounted to RUB 2.45 billion, which is 17.9% less y-o-y, and the level of paid claims in GWP of travel insurance reached 40.5% (vs. 20.6% in January-September 2019).
Among the TOP-10 insurers-leaders of the segment, which collected 88% of GWP, only AlfaStrakhovanie had a positive trend (+28%). As the insurer explained, this was thanks to a high level of online services that the company is offering - a policy can be bought online even while at the airport and any insurance product of travel insurance covers the risk of COVID-19. AlfaStrakhovanie also launched comprehensive programs for domestic travelers, which allowed to prevent the decline in premiums.
The largest GWP decrease among TOP-10 insurers in the segment was recorded by ERV Travel Insurance (-72.1%), while the segment's leader is ROSGOSSTRAKH with a share of almost 45%, however, the company's premiums decreased by 62.2% to RUB 2.7 billion.
According to the Association of Tour Operators of Russia, as of December 23, the number of citizens who made trips abroad decreased by 77% y-o-y. "At the end of 2020, total volume of tourists travelling from Russia abroad amounted to 2.753 million - this includes the first quarter of 2020, when the flow was quite active. The decrease rate is 77% y-o-y. In 2019, more than 20 million tourists travelled abroad, out of which 12 million made organized trips", explained Maya LOMIDZE, Executive Director of the Association of Tour Operators of Russia.
* at the following exchange rate:
1 EUR = 93.0237 RUB (September 30th, 2020)
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