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Insurance

Insurance is one of the key financial institutions of the market economy and an effective protection for the property interests of households, businesses and organisations against various risks.
₽739.2 billion
insurance premiums totalled 739.2 billion rubles in the first half of 2019

Currently, insurers offer more than 100 types of insurance, the most popular of which are compulsory motor third-party liability insurance (OSAGO), accident and health insurance, and property insurance.

The Bank of Russia regulates, controls and supervises the activity of insurance agents: insurance companies, insurance brokers and mutual insurance companies.

99.2 million
As many as 99.2 million insurance contracts were concluded in the first half of 2019, 90% of which were contracts with individuals.
As of 1 July 2019, operating in Russia were
188 insurance companies
68 insurance brokers
12 mutual insurance companies

The Bank of Russia’s main objectives are to prevent and eliminate violations of insurance laws and unfair practices, protect the rights and lawful interests of insurance consumers, and promote efficient development of the business of insurance.

Insurance supervision is focused on creating a reliable insurance environment, raising the accountability of insurance companies and improving consumer confidence in insurance services. The Bank of Russia puts a key focus on enhancing the protection of the rights and lawful interests of insurance consumers, and on developing conduct supervision.

Department responsible for publication: Insurance Market Department
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Last updated on: 19/03/2020