Russia: during Q1 GWP growth of VTB Life Insurance amounted to 67%

Based on the company's report GWP growth for the Q1 was 67.7% and amounted to RUB 5.2 billion (vs RUB 3.1 billion for the same period in 2017).

GWP for investment life line amounted to RUB 4.3 billion (1.5 times more than a year before), for universal life line - RUB 1 billion (3 times more). The company concluded 17 thousand of insurance contracts during Q1, which is 3.2 times more than a year before.


"We are actively improving sales of both life products, at that we are also expanding our product line", said Maksim PUSHKAREV, General Director of VTB Life Insurance.

In 2017 net profit of the insurer jumped by 44.6% and reached RUB 449.7 million (vs RUB 311 million in 2016). Total GWP increased by 57.1% to RUB 20.9 billion (vs RUB 13.3 billion in 2016). Claims also increased almost 2.5 times to RUB 383 million (vs RUB 156.2 million in 2016). Total assets of the insurer almost doubled in 2017 to RUB 39.9 billion (vs RUB 20.2 in 2016).

In terms of GWP among the members of the Association of life insurers VTB Life Insurance ranks 5th.









Share |

Related articles

RUSSIA: ROSGOSSTRAKH registered its own life insurer

On June 13 one of the biggest Russian insurers - ROSGOSSTRAKH registered its own life insurer - RGS Life insurance, informed ROSGOSSTRAKH. The new company will start selling policies in the fourth quarter this year.

2018-06-20

Russia: Cooperation between National Association of Agriculture Insurers and ASNACODI will improve development of the Russian agroinsurance

Within the framework of XVI International Conference of the All-Russian Insurance Association President of the National Association of Agriculture Insurers (NAAI) Korney BIJDOV and President of the National Association of agriculture mutual insurance of Italy ASNACODI, Albano AGABITI, signed a cooperation agreement, informed the Agency of insurance news (ASN).

2018-06-13

ON THE MOVE

Three new appointments at XL Catlin insurance operations

XL Catlin insurance operations announced on 4 June three appointments: Donnacha SMYTH as President Global Excess Casualty Insurance; Carla GREAVES as Chief Underwriting Officer, Global Excess Casualty; Aurelie FALLON SAINT-LO as Senior Underwriter, Environmental and Client & Distribution Leader for Western France.

07.06.2018

TOP EVENT

LIVE: BAKU: "Insurance in Azerbaijan: New perspectives" Conference

The annual and most important insurance event within the Caucasus region - "Insurance in Azerbaijan: New perspectives", started today, in Baku, organized by XPRIMM and Azerbaijan Insurers Association, with the official support of the Financial Market Supervisory Authority of Azerbaijan.

20.06.2018

5th Annual Insurance Business Forum "Challenges of the Year 2018"

will take place on September 17-21, 2018 in Sochi
The upcoming Forum, supported by the All-Russian Union of Insurers (ARIA), will logically continue a detailed discussion of the most pressing issues previously raised at ARIA events in 2018: Insurance and Reinsurance International Congress in Moscow and Insurance International Conference in St. Petersburg.

12.06.2018

See all