Insurance market continues to grow: 2023 Q2 results
The volume of insurance premiums grew by more than a quarter compared to the same period of 2022 and reached ₽555.4 billion. These dynamics result from the recovery of economic activity, as compared to the reduction in insurance premiums observed in 2022 Q2, and the adaptation of market participants to the new conditions.
From April to June, the number of signed contracts increased for all the key types of insurance. In particular, the number of CMTPLI policies sold increased by 6.8%, which is due to the recovery of sales of new cars amid the expanded supply from domestic and Chinese carmakers.
Overall insurance payouts grew by 15.7% to ₽248.4 billion.
More details on the situation in the market are available in the Review of Key Indicators of Insurers.