RUSSIA: claims paid for MTPL contracts dropped by 23% y-o-y, in January-November 2018

For January-November 2018 MTPL average paid claim amounted to RUB 66,625 (13% less y-o-y). At that MTPL average premium for the same period decreased from RUB 5,809 to RUB 5,703, as the Russian Association of Motor Insurers (RAMI) informed.

Total MTPL GWP for 11 months in 2018 amounted to RUB 206.27 billion (almost at the same level as a year ago). While MTPL paid claims dropped by 23% - from RUB 167.81 billion to RUB 129.42 billion.

Based on the preliminary data for 11 months in 2018 total number of insured losses decreased by 12% y-o-y, and the total number of settled claims also went down by 12% to 1.94 million units.

According to the President of RAMI, Igor YURGENS, decrease of the average premium comes from the bonus-malus system. About 80% of all drivers have safe driving record and thus total discount gives the reduction in the segment.

*EUR 1 = RUB 75.8897 (30.11.2018)

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