RUSSIA: in 1Q2019, inward reinsurance increased by 22% y-o-y; outward by 4%
Based on the report of the Russian National Reinsurance Company (RNRC) on reinsurance in Russia in 1Q2019, inward reinsurance GWP of Russian insurance companies increased to RUB 14.76 billion (~EUR 0.2 billion). Premiums at risk from international market grew by 31% y-o-y, which, according to the RNRC, is related to the increasing activity of large companies (SOGAZ, ROSGOSSTRAKH, INGOSSTRAKH, etc.).
First place among countries was taken by France, shifting UK (due to Brexit). There were also recorded risks coming from Venezuela and Hong Kong and increasing volume of risks from Libya and Afghanistan.
Outward reinsurance in 1Q2019 went up by 4% y-o-y, to RUB 43.56 billion (~EUR 0.59 billion). The share of the five leaders in terms of premiums ceded increased from 61% to 68%, while the companies in TOP-5 remained the same (SOGAZ, INGOSSTRAKH, AlfaStrakhovanie, Soglasie, RESO-Garantia), RNRC reported.
*EUR 1 = RUB 72.7230 (31.03.2019)