RUSSIA: first half year results show RNRC's charged reinsurance premiums increased more than 2 times
Incurred losses, including reserve changes, amounted to RUB 3.6 billion, net profit of RNRC amounted to RUB 1.5 billion. The company's combined ratio for the first 6 months reached 90%.
For the first half of the year the reinsurer received 7 thousand offers, which is 21% more than for the same period last year. The portfolio's dominating reinsurance is facultative (62%).
RNRC was established in 2016. The main business line is reinsurance of property of legal entities and CMR insurance with 44% share, the second biggest business line is aviation reinsurance with 12% share. Total volume of inward business after the first 6 months reached 5%. In 41% of inward reinsurance agreements the volume of RNRC's assumed obligations exceeds 10% share.
*EUR 1 = RUB 72.9921 (as of 30.06.2018)
EUR 1 = RUB 67.4993 (as of 30.06.2017)