Aggregate earnings at Russian insurers jump 45.6% to 47.5 bln rubles in Q1 - Central Bank
MOSCOW. June 20 (Interfax) - Aggregate net profits at Russian insurance organizations totaled 47.5 billion rubles in Q1 2016, 45.6% more than in the same period last year, the Central Bank of Russia said in a report on key insurance indicators.
The increase in earnings was to a large extent due to continued growth in investment income as well as to declining costs and loss ratios.
Aggregate capital in the insurance sector rose 5.2% to 438 billion rubles. Overall assets amounted to 1.679 trillion rubles, up 4.3%, while "assets as a percentage of GDP remained virtually unchanged (at 2.05% compared with 2.04% a year earlier)," the report said, adding that the structure of assets was practically unchanged.
Insurance reserves totaled 1.012 trillion rubles.