• Russia: forecast premiums written by scenario 2021

Under each scenario, both baseline and conservative, a drop in insurance premiums written for life and non-life insurance categories were expected relative to the previous year's levels in Russia. However, the other categories were projected to experience a positive trend.

Estimated value of premiums written in the Russian insurance market in 2021, by type and scenario* (in billion Russian rubles)

Characteristic	Baseline scenario	Conservative scenario
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Release date

April 2021

More information

Region

Russia

Survey time period

2021

Supplementary notes

* The baseline scenario implies that the insurance market will recover at a moderate pace, following a smooth economic recovery. The gradual expansion of consumer and investment demand will have a positive impact on the dynamics of the insurance market.

The conservative scenario implies that the market will shrink slightly, but not by more than one percent. The conservative scenario will be implemented in the case of a slower economic recovery, continued weak business activity and reduced consumer demand over the long term. In both scenarios, the further development of the coronavirus (COVID-19) situation and the duration of the recession in the global economy continue to be factors of uncertainty.

** Compulsory automobile liability insurance.