RUSSIA, 1H: life insurance growth rate reached 42%, driven by investment life insurance

In the first half year 2018 life insurers' premiums jumped by 42%, compared to the same period last year, and amounted to RUB 222 billion*, informed the President of ARIA Igor YURGENS.

61% were generated by investment life insurance, 19% - by credit insurance, 13%- by accident insurance, 3% - by voluntary health insurance, and another 4% - by other types. At that the share of the market leader, SBERBANK Life insurance, reached 34% of all premiums, the second place was taken by AlphaStrakhovanie Life and the third place - by ROSGOSSTRAKH Life.

Among TOP-5 life insurers premiums' declining trend was recorded only by ROSGOSSTRAKH Life (-36.5% compared to the first half year 2017). The rest TOP-5 insurers saw double digit growth rate of premiums. SBERBANK Life insurance increased its premiums by 85%, AlphaStrakhovanie Life - by 36%, RENAISSANCE Life - by 48%, VTB Life insurance - by 75%.

Paid claims in the sector after the first half year amounted to RUB 27.7 billion (+36%), wrote the portal ASN.

*EUR 1 = RUB 72.9921 (as of 30.06.2018)

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