Russian insurers' premiums up 6% y/y in Q1.

By bne IntelliNews May 14, 2010
Russian insurers' premiums up 6% y/y in Q1. Russian insurers wrote premiums worth a total of RUB 257.66bn in Q1, up 6% y/y, according a report given by representatives of the Federal Service for Insurance Oversight. Payouts totaled RUB 173.81bn up 5.9% y/y. Non-obligatory insurance premium collection increased 4.3% y/y to RUB 121.3bn in the period, while payouts on non-obligatory insurance policies rose 3.3% to RUB 50.33bn. Premium collection, excluding mandatory health insurance, rose 5.2% y/y to RUB 146.2bn, said Tatyana Maiorova, a department head at the Federal Service for Insurance Oversight. Payouts, excluding mandatory health insurance, increased 5.7% y/y to RUB 65bn in the period, she said.Property insurance premiums fell 4.1% y/y to RUB 62.18bn in the period, while payouts rose 1.8% to RUB 34.16bn. Life insurance premiums rose 9.4% to RUB 4.42bn, personal insurance premiums rose 11.4%, and liability insurance premiums rose 19.5% in Q1. Payouts on life insurance policies fell 6.8% y/y to RUB 1.36bn, personal insurance payouts rose 5% to RUB 13.94bn, and liability insurance payouts fell 1.6% to RUB 610mn. Maiorova also said that 54% of 648 insurance companies increased premium collection in Q1. The average size of insurers' charter capital rose 14% in Q1 to 214.7mn rubles, Maiorova said.

Related Articles

Russias participation in Cyprus bail-out under question.

As Cyprus is trying to come up with new ways to raise EUR 5.8bn needed to secure the financing from ECB, EC, and IMF, Russia's participation in the package is not clear. According to the latest ... more

Fitch: Russian banks risks in Cyprus limited.

Fitch Ratings believes that resolution of the Cyprus crisis with a deposit levy or some other form of burden sharing involving creditors is unlikely to result in material losses for Russian ... more

Sources: Russia could triple oil exports to China.

Russia and China discuss contracts that would triple exports of Siberian oil through various transport corridors, Reuters reports citing unnamed sources in the industry. Rosneft is discussing ... more

Notice: Undefined index: subject_id in /var/www/html/application/controllers/IndexController.php on line 335
Dismiss