The National rating agency Expert RA (RAEX) improved the financial strength rating of the insurance company SOGLASIE to ruBBB+, forecast stable; before that the insurer's rating was ruBBB, announced the agency.
According to the preliminary data of the Russian Association of Motor Insurers (RAMI) total MTPL premiums in the first half year in 2018 amounted to RUB 109.08 billion*, -1.4% compared to the same period of the last year.
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.
Total volume of charged reinsurance premiums amounted RUB 6.26 billion* (vs RUB 3 billion a year ago). Total volume of earned reinsurance premiums amounted to RUB 4.7 billion, according to the official announcement of the reinsurer's website.
According to new requirements approved by the Russian Federation council, the minimal size of insurers' charter capital will strongly increase in a staged process that will end by 2022, the ASN portal reports.
The law on housing insurance against emergencies passed through third reading at State Duma on July 26, and on July 30 the Federation Council proved it.
Premiums of ILI of SBERBANK Life Insurance in 1H2018 amounted to RUB 51 billion* (+ 89% compared to the 1st half year in 2017). Paid claims during 6 months almost reached RUB 3 billion, according to the press-service of the insurer.
Net profit of SBERBANK Insurance in the first half year, by IFRS, amounted to RUB 2.1 billion* (+50%), said acting General director Dmitry POPOV.
State Duma on July 12 adopted the law on stepping up the requirements for the minimal charter capital of insurers from RUB 120 million* to RUB 300 million. Some insurers believe that after its enactment more than 25% of insurers will leave the market, wrote the portal ASN.
Russian credit rating agency RAEX (Expert RA) confirmed the rating of SOGAZ-Life at ruAAA, forecast stable, informed the insurance news agency ASN.
RENAISSANCE Insurance group is making bookbuilding in the total volume of RUB 4 billion* until July, according to Interfax. Organizers are BCS Global Markets and Sberbank CIB.
Fitch Ratings has placed Russia-based VSK Insurance ratings, including Insurer Financial Strength (IFS) 'BB-' Rating, on Rating Watch Negative (RWN), said FITCH on July 12 in its statement.
In Q1 2018, Russian inward reinsurance market saw positive dynamics (+24%). According to experts, the growth in the absence of RNRC could amount to 16%, shows the Analytical report on reinsurance market evolution in Russia in January-March 2018
recently published by RNRC - the Russian National Reinsurance Company.
ROSGOSSTRAKH, the oldest local insurer, is close to its 100-years' anniversary and is preparing plans for the next 100 years, said Nikolaus HEINRICH FRY, the General Director of the company.
National rating agency RAEX (Expert RA) confirmed rating of ERGO, an insurer included into TOP-30 based on 2017 result, at ruAA+, stable forecast, informed the portal ASN.
During the 1st six months of this year mortgage insurance has been the leading insurance product of online sales of SBERBANK Insurance (its share amounted to 54% of total insurer's online sales), announced the insurer in its press release.