Russian Financial Control Monitor
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MOSCOW. The Russian government has adopted a national insurance market development strategy until 2020, a source in the government said.
Under the document, the focus is to be on the development of voluntary insurance and the gradual decline of the market share held by mandatory insurance lines, the source noted.
Last year, Russian insurers’ aggregate premiums grew 21% year on year, to RUR809.06bn (some $26.2bn, or €20.35bn).Voluntary insurance accounted for RUR659.12bn, up 18.2% year on year. Premiums on mandatory insurance (excluding mandatory health insurance) increased 34.8% to RUR149.94bn. |
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