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Forecast growth of insurance premiums written in Russia 2020, by type and scenario

For 2020, the negative scenario estimates projected the most significant drop of 40 percent for life insurance premiums in Russia relative to 2019. To compare, the positive scenario forecast the largest decline for accident and health insurance premiums at 35 percent. Premiums written for compulsory automobile liability insurance were not expected to suffer from the coronavirus-related crisis in the country.

Estimated growth rate of premiums written in the Russian insurance market in 2020, by type and scenario*

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Source

Release date

April 2020

Region

Russia

Survey time period

2020

Supplementary notes

* The positive scenario implies a quick end of the quarantine and a short period of a shock state of the economy with an active recovery in the second quarter of 2020.

The negative scenario considers longer and stronger negative effects of the coronavirus (COVID-19) pandemic, which will delay the recovery till the fourth quarter of 2020 or the beginning of 2021.

** Compulsory automobile liability insurance.

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Statistics on "Insurance market in Russia"

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