RUSSIA: net profit of the biggest local insurer increased in the first half year by 2.4%

The biggest local insurer SOGAZ improved its net profit in the first half year compared to the same period of 2017 by 2.4% to RUB 19 billion*, wrote ASN portal.

GWP without inward reinsurance increased by 5.6% to RUB 113.9 billion. Paid claims amounted to RUB 45.5 billion. Investment income jumped by 22.6%, insurer's assets for the first 6 months of 2018 went up by 13.7%, if compared to the end of 2017, and reached RUB 357.9 billion, and insurance reserves increased by 16% to RUB 194.6 billion.

Based on 2017 result SOGAZ is the leader of the Russian market. In May 2018 the insurer announced about its acquisition of VTB Insurance.

*EUR 1 = RUB 72.9921 (as of 30.06.2018)

Share |