Insurance market back to recovery in 2022 Q3
7 December 2022
News
In 2022 Q3, the situation in the insurance market stabilised with the reduction in insurance premiums, seen a quarter earlier, replaced by a slight increase. The market volume was up by 0.8% against the same period of the previous year to total 465.7 billion rubles.
The market recovery was mostly driven by the segments of endowment life insurance (ELI) and car insurance. The collection of premiums for credit insurance of borrowers’ life and health continued to decrease. However, the rate of the decline in July—September was significantly slower than in the previous quarter due to the revival of households’ credit activity.
Read more about the situation in the market in the Review of Key Indicators of Insurers.
Preview photo: OlegRi / shutterstock