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The Bank of Russia said that local insurers' profit grew nearly 70% year over year to more than 204 billion Russian rubles ($3 billion) in 2018 from RUB 121 billion in 2017, Xprimm.com reported citing sources. Gross written premiums increased nearly 16%. RESO-Garantia Insurance P.J.S.C.'s net profit grew 71% to nearly RUB 27 billion in 2018.