RUSSIA: net profit of INGOSSTRAKH dropped by 20% y-o-y in the 1st quarter
According to INGOSSTRAKH, GWP in the 1st quarter amounted to RUB 28.7 billion (+38%), including GWP of direct insurance (RUB 27 billion, +43%) and GWP of inward reinsurance (RUB 1.8 billion, -4%).
Paid claims reached RUB 13.2 billion (+28%), including paid claims for direct insurance (RUB 9.6 billion) and paid claims of inward reinsurance (RUB 3.6 billion).
The company's assets during the 1st quarter went up by 13% y-o-y, to RUB 172.7 billion; equity increased by 9% (to RUB 71.2 billion), non-life insurance reserves by 12% (to RUB 78.7 billion), and investment income grew 84% reaching RUB 1.8 billion, ASN reports.
According to 2018 results, INGOSSTRAKH ranked 6th in terms of GWP. The insurer's market share decreased slightly to 5.84% last year (vs 6.18% a year ago).
*EUR 1 = RUB 72.7230 (31.03.2019)