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