Guidelines for the Development of the Russian Financial Market
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 36: Premium volume is gradually growing (=2.5 USD bn)
Figure 37: Assets and reserves hit 2.5% of GDP
Premiums, RUB bn, Ihs
Premiums as % of GDP, rhs
Payment of claims, RUB bn, Ihs
Assets, RUB bn, lhs
Assets as % of GDP, rhs
Reserves, RUB bn, Ihs
329
360
1.5
2 700
300
266
1.4
2 250
1 609
240
1.4
1.3
1 800
1.3
180
1.3
1 350
2.0
120
1.2
900
151
60
113
1.2
450
943
0
1.1
0
03.15 06.15 09.15 12.15 03.16 06.16 09.16 12.16 03.17 06.17
Figure 38: Premium structure shows high level of market
diversification
Life insurance
40
40
2.7
2.5
2.5
2 221 2.3
2.1
11.9
1 313
1.7
1.5
03.15 06.15 09.15 12.15 03.16 06.16 09.16 12.16 03.17 06.17
Figure 39: In Q2/2017 market remained highly competitive with
the Herfindahl-Hirschman Index equal to 588.6
18%
27%
Corporate property
insurance
Top-20
9%
■Private medical insurance
12%
Motor car insurance
20%
14%
Top-10
■Compulsory motor TPL
insurance
Source: Bank of Russia
■Capital Premiums Assets
0
10
20
20
30
40
40
62.8
66.5
60.8
50
60
10
70
73.1
80.3
73.6
60
80
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