Insurance demand recovery boosts insurer’s premium by 27%

Russian insurer JSC Renaissance Insurance Group’s gross written premium increased 27% year-on-year to more than 74 billion Russian rubles ($1 billion) in the first nine months of the year, driven by recovery in the demand for all lines of insurance, Xprimm reported citing ASN. The insurer’s adjusted net profit increased 7% to RUB3.5 billion, bolstered by higher sales and margin, and growth in investment income.