At the end of the first quarter, the growth rate of insurance premiums has reached its maximum value over the last five quarters 12.6 per cent, considered in the CBA. Premiums have increased in all key market segments, their total volume amounted to 426,3 billion. Dynamics of the insurance market up to 2020 will depend on the extent of economic recovery, noted in the TSB.
In the all-Russian Union of insurers (VSS) predicts that if the scenario is positive and the economic recovery in the second half of 2020, the fall in aggregate insurance fees can be up to 5% of the previous year. In the case of a negative scenario, and the re-introduction of restrictive measures – up to 20% in some segments.
“Insurers are feeling the impact of negative factors of the pandemic and the crisis in the energy market, however, accumulated resources and good profitability in recent years allow us to usher in a new economic conditions with a higher degree of stability”, – said Vice-President of VSS Ella Platonova.
Among the leaders of the fall of the year can be hull insurance and insurance of property of physical persons. Support the CTP market, voluntary health insurance and insurance of property of legal entities.
In the rating Agency “Expert RA” predicts that in a positive scenario, in 2020, the insurance market will shrink by 7%, with a negative – 20% (the latter involves repeated sharp deterioration of the epidemiological situation in the second half of 2020 and the subsequent introduction of restrictive measures). Total insurance premiums for the April-may decreased by 14.5%, considered by the Agency. The leaders of falling – the insurance against accidents and illnesses, insurance of cargo and hull. Better than market were LCA and other property insurance of legal entities.
“To life, CMTPL and VMI account for just under 50% fees of the total insurance market of the Russian Federation. And that’s what will happen in these segments will depend on the final figures for the entire market, – said Nikolay Galushin, the head of Committee on PR and GR of the Association of professional insurance brokers. – We are more willing to share positive scenario for the assessment year – the decline will be from 5 to 10%”.
