The volume of the insurance market in Russia increased by 18% to 566 billion rubles in the third quarter of 2023. This is evidenced by the materials of the Bank of Russia.
The growth drivers of the market were the segments of auto insurance, non-credit life insurance and VMI. The volume of premiums for voluntary health insurance increased by 18% to 42 billion rubles.
The volume of payments under insurance contracts increased at a pace comparable to the dynamics of contributions and amounted to 260.7 billion rubles. The volume of contributions transferred to reinsurance increased 1.5 times to 46.8 billion rubles.
