RUSSIA: MTPL paid claims decreased by 27 % y-o-y after first 9 months

According to preliminary data of the Russian Association of Motor Insurers (RAMI), for the first 9 months of this year MTPL GWP amounted to RUB 167.16 billion, which is almost the same level as a year ago.

Still, MTPL paid claims dropped by 27% y-o-y to RUB 103.5 billion. The average premium in September was 1.4% lower than in September 2017 and the average paid claim amount also decreased by 7%. Total number of claimed insurance cases went down by 15% y-o-y and total number of settled cases decreased by 14%, reported RAMI.

As the President of RAMI, Igor YURGENS, stated, among the factors reducing the average premium, it is worth noting the increasing discounts based on the bonus-malus system, as well as declining average cost of MTPL policy by about 10%, against the background of a significant reduction in the ROSGOSSTRAKH MTPL market share from 40% to 9%, which, according to YURGENS, affected competition in this insurance class.

*EUR 1 = RUB 76.2294 (as of 30.09.2018)

Follow XPRIMM Publications on LinkedIn, for more data on the insurance and financial industry.

Share |

Related articles


ALLIANZ announced three executives appointments

German insurance Group ALLIANZ announced three senior leadership appointments at ALLIANZ DIGITAL Health, ALLIANZ Private Krankenversicherung and Allianz Global Corporate & Specialty SE.



Inclusive insurance on the agenda of the second CEE & SEE - Regional Actuarial Insurance Conference in Skopje, Macedonia

Insurance should be accessible to all social classes, regardless of their wealth and income status. Products offered today are conventional insurance products, largely inspired from the developed markets as "one-size-fits-all" solutions, affordable to only middle- and high-income clients in the Eastern Europe's emerging & developing markets. The low insurance penetration rates across the region show the need for another approach.


Reducing the risks in agriculture by using insurance means, discussed in Skopje

On November 1st, an Agricultural insurance conference took place in Skopje, Macedonia, organized by the Insurance Supervision Agency in cooperation with the Ministry of Agriculture, Forestry and Water Economy. Drawing attention to the necessity of reducing the risks in agriculture by using insurance was the event's main purpose.


IIF 2018 - Insurance in a DIGITAL WORLD

Emmanuel DJENGUE, Innovation Director, Europe - RGAX, Spain is the Keynote Speaker at IIF 2018 - Insurance in a DIGITAL WORLD Conference in Bucharest, on November 27.


See all