The net profit of Russian insurers in 2024 amounted to 462.8 billion rubles, which is almost 1.5 times higher than in 2023. The profit growth provided an almost 1.5-fold improvement in investment results. This is reported in the materials of the Bank of Russia.
The regulator attributes this to an almost twofold increase in interest income, which occurred due to an increase in interest rates in the economy following the tightening of monetary policy in 2024.
At the same time, the profit from the revaluation of assets denominated in foreign currency, which accounted for a third of the investment results in 2023, decreased by 2 times in 2024.
In addition, the loss from operations with financial instruments increased, including due to the negative revaluation of government bonds.
The results from the insurance activities of companies in 2024 increased by 1.8% to RUB 298.9 billion, due to an increase in the result for insurance other than life insurance. The result of life insurance decreased.
The profitability of the insurance market reached its highest levels in the last five years last year. The return on assets was 7.9%, an increase of 1.5 percentage points compared to 2023, and the return on equity reached 30.8% (+6.1 percentage points).
