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.









Follow XPRIMM Publications on LinkedIn, for more data on the insurance and financial industry.

Share |

Related articles

ON THE MOVE

Stefan STAVROSITU appointed Sales Director of GROUPAMA's Romanian unit

Groupama Asiguraari, the Romanian arm of the French group and of the leading players on he ocal market, has announced the appointment of Stefan STAVROSITU as National Sales Director, replacing Julien RAMILLION who, after holding this position for four years, will receive other responsibilities.

08.08.2018

TOP EVENT

LIVE: IIS Global Insurance Forum 2018 / Day2

The works of the Global Insurance Forum continued today in Berlin, Germany. Providing security for ageing populations in health care and pensions terms, as well as innovation and InsurTech or innovative strategies for the future development of the industry are on the today's agenda.

10.07.2018

See all