EASTERN Re: The Russian Insurance and Reinsurance Market in line with the World Economy
Last year, the Russian Insurance and Reinsurance Market followed the trend of the world economy affected by the economic recession: "Last year, the income of the specialized reinsurers went down by 40%, while the income of the insurers dropped by 10%", Dmitry DANILENKO, EASTERN Re, Russia stated at FIAR 2010.
Also, the volume of claims paid by the specialized reinsurers dropped by 44% in 2009 compared to 2008, whereas the insurers paid about 6% less claims. "The volume of insurance premiums reached USD 3.3 billion in 2009. One thing to note is the USD 3.3 billion of the premiums ceded through reinsurance by the insurers", DANILENKO added.
