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

RUSSIA: agro insurance in 1H2018 dropped by 36%

The agro insurance segment based on the Central Bank dropped by 36% to RUB 1.66 billion in the 1H 2018. The biggest contribution to the segment was made by agro insurance without state support (+2.8% to RUB 904.3 million), according to the National Association of Agriculture Insurers (NAAI).



Public insurers appoint Achim Bosch to reinsurer board

The supervisory bodies of Deutsche Ruckversicherung AG and the Association of German Public Insurers decided today, to appoint Achim Bosch (53) to the executive board of the two reinsurers, where he will be responsible for non-life reinsurance.



HOEPKE, Munich Re: I expect at least a stable renewal round in 2019

After severe storm damage in Japan and the United States, Munich Re is looking with a little more optimism to the next renewal season. "I expect at least a stable renewal round in 2019," Board member Doris HOEPKE said in Baden-Baden. Until recently the reinsurer's expectations were leaning towards a stagnant season.



Five new XPRIMM insurance reports on the Baden Baden stands

Five new titles are available this year on the XPRIMM Baden-Baden press stands opened in the Kurhaus Casino and in Baden Baden main locations, presenting the latest statistical data and comprehensive analysis for the CEE, SEE and CIS insurance markets.


See all