Insurance isoneofthekeyfinancial institutions ofthemarket economy andaneffective protection fortheproperty interests ofhouseholds, businesses andorganisations against various risks.
₽1293.6 billion
insurance premiums totaled by2024 Q2.
Currently, insurers offer more than 100types ofinsurance, themost popular ofwhich arecompulsory motor third-party liability insurance (OSAGO), accident andhealth insurance, andproperty insurance.
TheBank ofRussia regulates, controls andsupervises theactivity ofinsurance agents: insurance companies, insurance brokers andmutual insurance companies.
127.7 million
insurance contracts were concluded by2024 Q2, 86%ofwhich— with individuals.
132 insurance companies
56insurance brokers
20 mutual insurance companies
Operating inRussia asof1July 2024
TheBank ofRussia’s main objectives aretoprevent andeliminate violations ofinsurance laws andunfair practices, protect therights andlawful interests ofinsurance consumers, andpromote efficient development ofthebusiness ofinsurance.
Insurance supervision isfocused oncreating areliable insurance environment, raising theaccountability ofinsurance companies andimproving consumer confidence ininsurance services. TheBank ofRussia puts akeyfocus onenhancing theprotection oftherights andlawful interests ofinsurance consumers, andondeveloping conduct supervision.
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Last updated on: 06.09.2024
