Russia
RUSSIA: a law signed on insurance of farmers with state support in case of state of emergency
President Vladimir Putin signed a law according to which farmers will be able to conclude agroinsurance contracts with state support if an emergency is declared in the region, ASN reports.
17 June 2021RUSSIA: SBERBANK Insurance received a license for MTPL
On June 10, the Bank of Russia issued a license to Sberbank Insurance for compulsory motor third party liability insurance (MTPL), the insurer said in its press release.
17 June 2021STATISTICS: RUSSIA, 1Q2021: market GWP increased by almost 8%, while profits fell by a third
Total market GWP in the first quarter of 2021 increased by about 7.9% y-o-y, to RUB 460 billion (EUR 5.17 billion). Paid claims for the period increased to RUB 185.3 billion (+16.2%), according to the statistical data, published by the Central Bank.
17 June 2021RUSSIA: in Jan-March, RESO-Garantia's GWP grew by 17.6% y-o-y, and pad claims - by 17.5%
In the first quarter of 2021, GWP of RESO-Garantia, one of the top-5 market leaders, reached RUB 29.48 billion (EUR 0.33 billion*), which is 17.6% more y-o-y. At the same time, the insurer's paid claims amounted to RUB 14.42 billion (+17.5%), ASN reports with reference to the company's press release.
9 June 2021RUSSIA: in January-March, the average remuneration of insurance brokers was 11% and is the lowest in the market
In the first quarter of 2021, total GWP volume through insurance brokers amounted to RUB 19.4 billion rubles (~EUR 0.22 billion*), which is 83% more than in the same period in 2020, ASN reported.
9 June 2021RUSSIA: ROSGOSSTRAKH Life received the highest mark for the quality of services
ROSGOSSTRAKH Life received the "Quality Mark" rating at the A1 level - the highest level of service quality. The company was rated by the BusinessDrom analytical center. This rating was assigned for the first time, according to the insurer's press release.
9 June 2021RUSSIA: SBERBANK insurance insured the buildings and property of the State Kremlin Palace for RUB 8 billion
SBERBANK insurance has insured the buildings and property of the State Kremlin Palace for a total amount of RUB 8 billion (~EUR 89.5 million*), the insurer said in its press-release.
3 June 2021RUSSIA: the number of complaints on MTPL in 1Q2021 was the minimum for the entire period of the financial ombudsman's operation
In the first quarter of 2021, the number of complaints on MTPL recorded by the financial ombudsman was minimal, which, among other things, was influenced by the stimulation of customer focus of insurers, who did not find it profitable to bring disputes to the financial ombudsman, ASN reported with reference to the financial ombudsman's press-release.
31 May 2021RUSSIA: Igor KOBZAR joined the Presidium of ARIA
Igor KOBZAR, General Director of Sberbank Life Insurance, joined the Presidium of the All-Russian Insurance Association (ARIA). The general meeting of ARIA made a relevant decision on May 26, as the insurer said in its press release.
27 May 2021RUSSIA: SOGAZ assigned AAA.ru credit rating with stable outlook
The National credit rating agency NKR assigned AAA.ru credit rating to SOGAZ with a stable outlook, ASN reported.
26 May 2021RUSSIA: ARIA: life insurance GWP for the first quarter increased by 6.3%, and paid claims - by more than 59%
In the first quarter of 2021, life insurance GWP continued to grow and y-o-y increase amounted to 6.3%, to RUB 115 billion (EUR 1.29 billion*), according to the website of the All-Russian Insurance Association (ARIA).
26 May 2021RUSSIA: in the first quarter GWP of ROSGOSSTRAKH increased by 5.5% y-o-y
From January to March 2021, GWP of ROSGOSSTRAKH amounted to RUB 23.6 billion (EUR 0.26 billion*), which is 5.5% more y-o-y, ASN reports.
20 May 2021RUSSIA: ROSGOSSTRAKH Life assigned a national credit rating at AA.ru
NKR national rating agency assigned ROSGOSSTRAKH Life a credit rating at AA.ru, outlook stable. As the agency notes, in 2021, the growth of the company's GWP will outstrip the market, and ROSGOSSTRAKH Life will maintain high profitability, according to the insurer's press release with reference to the NKR website.
20 May 2021RUSSIA: Andrey BURMISTROV appointed Risk Director of SBERBANK life insurance
Andrey BURMISTROV has been appointed Risk Director of SBERBANK life insurance, according to the insurer's press release.
13 May 2021RUSSIA: NAAI: in the first quarter of 2021 GWP in agroinsurance with state support increased by 16% y-o-y
In the first quarter of 2021, agroinsurance with state support continued to grow - GWP under contracts concluded over the period amounted to RUB 492 million (~EUR 5.54 million*), which is 16% more y-o-y, according to the National Association of Agriculture Insurers (NAAI) website.
5 May 2021RUSSIA: the number of complaints against insurers in January-March 2021 increased by 4% y-o-y
In January-March 2021, according to the Bank of Russia, the number of complaints against insurers increased by 4% y-o-y, to 8.5 thousand. At the same time, the number of complaints about mis-selling (selling some products in the guise of others) increased by almost 1.5 times, ASN reports.
5 May 2021RUSSIA: Obligatory program of SBERBANK insurance has become the largest on the market
SBERBANK Insurance renewed its obligatory reinsurance treaty for liability risks, the capacity of which almost doubled to RUB 1.8 billion (~EUR 19.89 million*), thereby becoming the largest in this type on the insurance market, the insurer said.
29 April 2021RUSSIA: NAAI: from 2018 to 2020 subsidized agroinsurance more than tripled
According to the National Association of Agriculture Insurers (NAAI), in 2019-2020 all NAAI insurers increased their activity in the agroinsurance with state support.
26 April 2021RUSSIA: Expert RA: in 2021, market growth may range from 3% to 9%
Development of the insurance market in 2021 may have different scenarios - according to the baseline scenario, total growth will be about 8-9%, while according to the conservative scenario, the market may grow by 3-4%, explained Alexey YANIN, Managing Director of the Insurance and Investment Ratings Department of the Expert RA agency at the 25th Reinsurance Conference.
21 April 2021RUSSIA: paid claims of SBERBANK Life Insurance on credit insurance in January-March increased by 38% compared to the first quarter of 2020
Paid claims of SBERBANK Life Insurance on credit insurance in January-March 2021 reached to RUB 2.5 billion (~EUR 28.17 million*). Compared to the first quarter of 2020, the number of paid claims increased by a third, and their volume - by 38%, according to the insurer's press release.
21 April 2021
