According to the Bank of Russia, for the first time in the last few years the market has seen a decrease in the number of complaints from consumers of financial services, which was mainly due to a sharp reduction in complaints against MTPL in 2018 by 43.1%.
The national rating agency Expert RA confirmed the rating of SBERBANK Insurance at ruAA+, at that the outlook was changed from stable to positive, reports ASN.
Total amount of the insurance indemnity paid by the Russian National Reinsurance Company (RNRC) for the damaged military cargo already reached RUB 3.5 billion (~EUR 46 million)*, which makes this loss the biggest and unique in the whole history of military cargo insurance in the country, as ASN wrote.
In 2018 the total number of MTPL policies increased by 2%, according to the preliminary data, however, GWP of the class remained at the level of 2017, as ASN informed.
Preliminary data of the National Association of Agriculture Insurers (NAAI) for 2018 show that GWP in livestock insurance increased by 33% y-o-y to RUB 866 million, as ASN wrote.
The international rating agency FITCH removed the financial stability rating of VSK from the list of Rating Watch Negative (RWN), where it was placed in July 2018, as well as confirmed the company's rating at BB-, outlook negative, as reported by ASN.
On January 17, 2019 the ACRA Board of directors, based on the statement of Ekaterina TROFIMOVA, decided to release her from the position of the General Director of the agency, as ACRA announced.
On January 1, 2019 new amendments to the Law on insurance activity came into force and they give the right to the Bank of Russia to impose a ban or restriction on certain transactions of insurance companies, as ASN wrote.
Expert RA believes that uncertainty on the life market is extremely high and its GWP in 2019 may drop to the level of 2017, according to the agency's preliminary forecast for 2019.
Dmitry GRISHANKOV, who has been the president of Expert RA, left his post by agreement of the parties on December 30, 2018. However, he remains a shareholder and a member of the board of directors of the agency, as the rating agency reported.
According to the National Association of Agriculture Insurers (NAAI), 1.13 million hectares of crops (3% more y-o-y) and 83.1 million of livestock (+16%) were insured in Russia from January to November 2018.
The rating agency Expert RA removed the "under watch" status and confirmed the financial reliability rating of VSK at ru, outlook stable, as ASN wrote.
The national rating agency Expert RA confirmed the financial rating of INGOSSTRAKH at ruAAA, stable outlook. According to the Bank of Russia, in terms of GWP for 9 months of 2018 the insurer ranked 6th in the market.
For January-November 2018 MTPL average paid claim amounted to RUB 66,625 (13% less y-o-y). At that MTPL average premium for the same period decreased from RUB 5,809 to RUB 5,703, as the Russian Association of Motor Insurers (RAMI) informed.
Fitch Ratings has affirmed Russian National Reinsurance Company's (RNRC) Insurer Financial Strength (IFS) rating at 'BBB-' with a Positive Outlook.
S&P Global Ratings today placed its 'BBB-' long-term issuer credit and financial strength ratings on Russia-based insurers OJSC SOGAZ and VTB Insurance on CreditWatch with developing implications.
The Russian National Reinsurance Company (RNRC) has signed a one-year agreement with a local unit of London-based insurance broker Aon Plc that will allow RNRC to reinsure risks for up to RUB 10 billion (EUR 149 million), Reuters reports.
According to the Bank of Russia data, for 9 months this year insurers with foreign participation generated GWP in the amount of RUB 206.4 billion, which is almost equal to 19% of the total market premiums for the period.