Russia: Underwritings on general liability segment increased by 19.5% in 1H/2011
Gross written premiums for the ten companies that focused on general liability lines, in the first six months of this year, have exceeded RUB 7.7 billion (EUR 185.5 million), up by 19.5% compared to the same period in 2010, according to INTERFAX.
According to data published by the supervisory authority, of a total of 604 insurance companies which operate on the profile market, only 289 insurers operate on this line of business.
The volume of premiums written by them totaled RUB 13.4 billion (EUR 322.81 million), down by 5.3% compared to the same period in 2010. Meanwhile, Russian insurers paid claims amounting to RUB 1.5 billion (EUR 36.13 million), up by 17.5%.
In January-June 2011, the ten insurance companies that have focused on general liability lines have reached a degree of concentration of 57.8% of total volume of written premiums.
The leader of the general liability segment is the insurance company INGOSSTRAKH. In the first half of 2011, INGOSSTRAKH has underwritten premiums worth RUB 1.7 billion (EUR 41 million), up by 9.7% compared to the same period in 2010, with a market share of 12.7%, up by 1.7 percentage points.
On the second place was ROSGOSSTRAKH, with RUB 1.168 billion (EUR 28.13 million) and a market share of 8.7%, and on the third place, SOGAZ, with underwritings worth RUB 982 million (EUR 23.65 million) and a market share of 7.3%.
Gross written premiums for the ten companies that focused on general liability lines, in the first six months of this year, have exceeded RUB 7.7 billion (EUR 185.5 million), up by 19.5% compared to the same period in 2010, according to INTERFAX.