Market insurance could leave several companies

6 December 2017

Insurance again became unprofitable

Recently we looked fresh. statistika for insurance. Then the Russian Union of motor insurers (RAMI) noted that the average size of insurance compensation for the first ten months of 2017 increased by 15 %. At the same time, the average premium fell by 3 %. According to analysts, is the fall in the margin of this business that can lead to a reduction in the number of companies in this segment.

Director of insurance market Department, Bank of Russia Igor Zhuk expects that next year will be very difficult. "We may see a decrease in the number of companies on the market CTP. 180 companies were in insurance, left 60. To be honest, not all companies 2017-2018 will survive," said beetle.

In its forecast, the representative of the Central Bank refers to the fact that CTP is no longer a profitable class of insurance. Among the key reasons influencing the negative sentiment
he listed "e-agent" and Agency agreement between the insurers.

Igor Zhuk noted that if more recently, in the field of CTP was 180 companies, now down to 60. In the near future this trend will be maintained. In 2017 from CTP segment took five companies. For example, "Moscow" and "Moscow" in General has left the market, and "VTB insurance" has refused from CTP. The company "Regiongarant" is now part of the group "SOGAZ". One of the most recent examples concerns the company "Guardian": the Central Bank revoked its license.
November 30, 2017. In the first half of the year she was ranked 14th in CTP market with a share of 1.22 % (1,3 billion rubles of fees).

According to the Director of insurance market Department of the Central Bank, the crisis in the market of CTP can be resolved only after the rejection of the regulated government tariffs. According to the Bank, for the first half of 2017, the combined loss ratio of CTP segment (reflecting the efficiencies above 100% loss) rose by 26.8 percentage points.
and reached 118,5 %.