Insurer GWP amounted to RUB 378.6 billion (EUR 5.2 billion) in 1Q2019, almost the same level as a year ago. Meanwhile, total paid claims increased rapidly, by 27.6% to RUB 139.2 billion (EUR 1.9 billion), statistical data of the Bank of Russia show.
In the first quarter of this year, SOGAZ was way ahead of last year's leader SBERBANK Life insurance, collecting RUB 80.1 billion in GWP (GWP of SBERBANK Life insurance reached RUB 37.5 billion), ASN reported based on the data of the Bank of Russia.
For January-May 2019, the average cost of MTPL policy for individuals decreased by 4.1% y-o-y, as data from the Russian Association of Motor Insurers (RAMI) show.
The Russian National Reinsurance Company (RNRC) announced that Nikolay GALUSHIN, its President and Chairman will leave the position on July 1, 2019, "following the successful implementation of the launch and development of national reinsurer's activities, through the company's strategy".
According to Philipp GABUNIA, Director of the Insurance Market Department of the Bank of Russia, from January to March 2019, investment life insurance (ILI) GWP dropped by 26% y-o-y in an amount of RUB 46 billion, ASN reports.
For the first three months of this year, INGOSSTRAKH's net profit decreased by 20% to RUB 2.5 billion. Profit before tax for this period dropped by 18%, ASN reports in reference to the insurer's statement.
For the period from January to March 2019, the total number of complaints against insurers amounted to 12,200, which is 36% less y-o-y, according to the Bank of Russia.
The Analytical Credit Rating Agency (ACRA) affirmed (RU), outlook stable for the Russian National Reinsurance Company (RNRC), the reinsurer informed.
Net profit of ROSGOSSTRAKH for the first quarter, based on the Russian Accounting Standards, exceeded RUB 1.3 billion (~EUR 17.9 million), ASN reports.
From May 7, 2019, the All-Russian Insurance Association (ARIA) will start checking insurer compliance with new mandatory standards related to operations on the insurance market and protecting consumer rights in insurance services, ASN reports.
The rating agency Expert RA upgraded the national rating of ROSGOSSTRAKH to ruAA-, outlook stable. Previously the insurer had ruA rating, outlook positive, as reported by ASN.
The Congress was supported by the All-Russian Insurance Association (ARIA), and also by the Union of Insurance Experts and Adjusters (UIEA). INGOSSTRAKH was acting as the General Partner.
The Russian National Reinsurance Company published its report on the loss portfolio for 2018, according to which the losses in 2018 amounted to RUB 4.3 billion.
The national rating agency Expert RA affirmed the rating of AlfaStrakhovanie at ruAA+, outlook stable, ASN reports.
By the end of 2018, the total amount claimed in lawsuits against ROSGOSSTRAKH group reached RUB 21.1 billion, equivalent to 30.5% of the group's total GWP and 39.8% of its paid claims, ASN reported.
According to the Bank of Russia, in 2018 the insurer profit grew by almost 70% to RUB 204.1 billion (vs RUB 120.6 billion in 2017). Return on equity reached 31.2%, total assets increased by more than 20% and exceeded RUB 2.9 trillion, based on the survey of key indicators of insurer activity in 2018.
SBERBANK's Board of Directors elected Alexey LEONENKO as the new General Director, replacing Viktor DUBROVIN, effective March 29, the insurer reports.
The national rating agency Expert RA raised the rating of SBERBANK Insurance to ruAAA, outlook stable. Previously, the insurer's rating was ruAA+, outlook positive, ASN reports.
According to a study by the Bank of Russia on the financial accessibility for disabled persons, in 2018 "voluntary insurance services were used by 19.9% of the Russian population in general and 9.4% of disabled people, while compulsory insurance services were used by 89.1% of the population in general and by 97.9% of disabled people," the document says.
On April 1, 2019, Alexander ZARETSKI will step down from his presidency of METLIFE. According to the Company's Board of Directors, this decision was made for personal reasons. Gheorghe DIMITRU will take over as president, ASN wrote.