• Russia: average expected loss ratio in insurance market 2021

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Russian insurance sector executives showed optimism for the voluntary medical insurance segment for 2021, with the expected loss ratio reducing from 86 percent in 2020 to 73 percent in 2021. The loss ratio was expected to increase slightly in the Сasco segment.

Average expected loss ratio* in the insurance market in Russia from 2018 to 2021, by segment

Characteristic	CMTPL***	Voluntary medical insurance	Casco****
-	-	-	-
-	-	-	-
-	-	-	-
-	-	-	-

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Release date

July 2021

More information

Region

Russia

Survey time period

2018 to 2021

Supplementary notes

* An expected loss ratio is a way of determining how much money earned from premiums an insurer should set aside to pay for future claims.
** Forecasted data.

The source clarified the following:
*** "CMTPL – compulsory motor third-party liability that is required under Russian Law and is aimed at protecting other people, vehicles, and property in the event of an accident that is caused by a policyholder."

**** "Casco – comprehensive car insurance where the policy covers risks associated with your own car, such as damage (including write-offs), vandalism, fire, falling objects (e.g. trees), natural disasters, and theft. The policy does not cover risks such as medical expenses, damage to another person’s car from a collision, or any damage to objects being transported in your car."