Insurance market in Russia is rising by 6% in the first semester
Russian insurers underwrote in the first in the 1st half of the current year gross premiums of almost EUR 13.4 billion 5.8% higher compared to the 1st half of 2009, says The Insurance Supervisory System in Russia (FSIS). At the same time, the volume of paid claims increased with 4.4%, up to EUR 9.4 billion.
The underwritings in the voluntary insurance segment increased with 5%, up to EUR 6 billion and the paid claims decreased with 2.4% reaching EUR 2.7 billion. Most insurance lines within this segment, signed a positive evolution, except for the property insurance that remained at the same level as in the 1st half of 2009. The paid claims took the same lead, with an emphasize growth in the financial risks and commercial insurance - 162%.
In other words, the collected premiums from the insurers for the mandatory insurance increased by 6.5%, up to EUR 7.3 billion, and the claims with 7.4% up to EUR 6.6 billion. On top of that more than half of the sums come from health insurance- 45.2% of underwritings and 63.3% of paid claims. "We can say that the market is started to come out of the crisis, with a growth of 5% in comparison with other countries", said Aleksandr KOVALI, FSIS President.
In the 1st half of 2010, 666 companies worked on the profile market, compared to 702 in 2009.
