Russian insurers write USD 26bn in premiums in 2013.

By bne IntelliNews March 20, 2013
Total underwritten premiums across all categories including mandatory health insurance in 2013 increased by 20.5% y/y to RUB 800b (USD 25.95bn), Finmarket reports citing deputy head of Federal Financial Markets Service (FSFR) Igor Zhuk. Share of insurance premiums last year was 1.3% of GDP, which remains relatively low, Zhuk commented. Zhuk noted that previously FSFR raised the issue of supporting the insurance sector by including reinsurance on state level, by establishing a reinsurance company partially controlled by the state which already exists in other BRIC countries. However, currently the issue is not on official agenda, mostly due to concerns over capital outflow through reinsurance channels.

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