The profit of Russian insurers for 9 months decreased by 17.7%

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AK&M 03 December 2021 17:54

The profit of Russian insurers for 9 months of 2021 decreased by 17.7% to RUB 189.7 billion due to a negative currency revaluation of assets against the background of the strengthening of the ruble. This is reported in the materials of the Bank of Russia.

As a result, the profitability of insurance companies decreased, although it still remained at a high level (return on capital – 22.8%, return on assets - 5.2%).

The number of insurance companies in July-September 2021 decreased to 151. This contributed to the increased concentration of the Russian insurance market. The share of the top 20 insurers in terms of assets amounted to 81.6% (+0.5 percentage points for the quarter).