In the third quarter of 2024, insurance premiums in Russia exceeded ₽1.1 trillion, marking a near doubling from the same period last year. This substantial increase was primarily fueled by investment and endowment life insurance sectors. The surge in these segments was attributed to high sales of short-term policies and significant insurance contracts finalized during this period.
Other segments within the insurance industry experienced an overall growth of 7.3%. Additionally, payments under insurance contracts rose by 67.2%, reaching ₽442 billion.
For further insights into the market situation, refer to the Review of Key Indicators of Insurers for 2024 Q3.