Russian insurers’ premiums drop 2% as financial conditions weaken
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Data from the Russian Central Bank said that local insurers’ aggregate gross written premium dropped almost 2% year-on-year to 452.3 billion Russian rubles ($8.4 billion) in the first quarter of the year due to weakening foreign trade and financial conditions, Xprimm reported. Premiums increased slightly in the nonlife insurance segment but life insurance saw an almost 11% decline. Meanwhile, aggregate profit of the Russian insurers dipped almost 4% to RUB47.5 billion.
