RUSSIA: insurers with foreign participation in the ownership provided for 19% of the total market GWP in 3Q
As the data of the regulator show, total number of insurers with foreign participation dropped during the last 10 years (from 2018) by 36% due to sales or liquidation of subsidiaries. Since 2010 the market also is undergoing a trend for reduction of foreign participation in charter capital of insurers (from 22.42% in 2010 to 11.29% in 2017).
According to the statistical data, for the period from January to September this year the biggest contribution in GWP, generated by insurers with foreign participation, was made by groups: RESO Garantia and INGOSSTRAKH - over 6% of the total market GWP. To compare - for the whole 2017 year insurers with foreign participation generated RUB 247.7 billion of premiums (19.4% of the total market GWP in 2017), as insur-info.ru wrote.
*EUR 1 = RUB 76.2294 (30.09.2018)
EUR 1 = RUB 68.8668 (31.12.2018)