Russian Financial Sector Update
Bank of Russia
FINANCIAL SECTOR OVERVIEW
The Central Bank of the Russian Federation
INSURANCE
Risk-oriented supervision is to be exercised in compliance with the Solvency II standards
Figure 42: Premium volume is gradually growing (=USD 2.5 bn)
Premiums, RUB bn, lhs
Premiums as % of GDP, rhs
Payment of claims, RUB bn, Ihs
Figure 43: Assets and reserves hit 2.6% of GDP
Assets, RUB bn, Ihs
Assets as % of GDP, rhs
Reserves, RUB bn, Ihs
360
300
266.4
240
1.3
180
2600
113
H
03.15
06.15
09.15
12.15
03.16
06.16
09.16
12.16
03.17
06.17
316.4 1.5
2 700
1.4
2 250
1 609.4
1.4
1.3
1 800
1.3
1 350
2.0
1.2
900
114 1.2
450 943.3
1.1
0
09.17
12.17
Figure 44: Premium structure shows high level of market
diversification, as of YE17
30%
26%
13%
11%
13%
Source: Bank of Russia
7%
Life insurance
Corporate property
insurance
Private medical
insurance
■Motor car insurance
■Compulsory motor TPL
insurance
2.6 2.8
2.5
2 429.7
2.3
2.0
1 448.5 1.8
1.5
03.15
06.15
09.15
12.15
03.16
06.16
09.16
12.16
03.17
06.17
09.17
12.17
Figure 45: In Q4/2017 market remained highly competitive with
the Herfindahl-Hirschman Index equal to 507.2
■Capital, % ■Premiums, % Assets, %
Top-20
Top-10
0
10
20
20
30
40
40
50
60
65
65.3
61.5
74.7
79.8
74.2
70
70
80
90
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