Insurance market reports usually start with two figures: how much insurers collected in premiums and how much they paid out. Hasty conclusions are often drawn from them — "the market is growing" or "insurers don't pay". Let's look at what really lies behind these indicators and how to read them.
Where the data come from
Insurers in Russia report to the Bank of Russia, the single regulator of the financial market. Based on these reports, the central bank publishes aggregated statistics and regular reviews of insurers' key indicators: premiums and claims by line of business, market structure, financial results. Data on individual companies are also disclosed, so you can compare not only the market as a whole but also specific insurers from the insurance company catalogue.
What 2024 and 2025 showed
According to a Bank of Russia review, in 2025 insurers collected about RUB 3.98 trillion in premiums — roughly 7% more than in 2024 (about RUB 3.72 trillion). Payments grew much faster: about RUB 2.55 trillion against RUB 2.15 trillion a year earlier, i.e. by roughly 19%. In other words, the conclusion "premiums are growing while payments lag behind" does not fit the Russian market in 2025 — rather the opposite.
The dynamics within the year were uneven: in the first half of 2025 premiums grew at double-digit rates year on year, while in the third and fourth quarters they declined compared with the very strong quarters of 2024.
Market structure by premiums
| Line of insurance | Share of premiums 2024, % | Share of premiums 2025, % |
|---|---|---|
| Endowment (savings) life insurance (NSZh) | 38.9 | 30.6 |
| Investment-linked life insurance (ISZh) | 13.5 | 22.9 |
| Motor hull (KASKO) | 8.7 | 8.5 |
| OSAGO (compulsory motor TPL) | 8.9 | 8.3 |
| Voluntary medical insurance (DMS) | 8.8 | 8.1 |
| Accident and sickness insurance | 4.5 | 4.0 |
| Other property insurance of legal entities | 4.1 | 4.3 |
| Other property insurance of individuals | 3.4 | 3.4 |
| Credit life insurance | 2.0 | 2.0 |
Source: Bank of Russia; figures rounded. The main point is clear: more than half of the market's premiums come from life insurance, and in 2025 the share of investment-linked life insurance rose noticeably while the share of endowment insurance fell. Classic "everyday" lines — KASKO, OSAGO, DMS — account for about 8% each.
Why the claims-to-premiums ratio is not the loss ratio
Dividing payments by premiums gives about 64% for 2025. But this is a rough indicator, and you cannot judge insurers' "generosity" by it.
- Different periods. The premium for an annual policy is received at once, while losses under it may occur and be paid the following year. That is why reports use earned premium and the loss ratio rather than simple division.
- Life insurance works differently. Under savings and investment programmes, payments include maturity amounts and surrender values on early termination. This is a return of savings, not "losses" in the usual sense. Because life insurance makes up a large share of the market, such payments strongly affect the overall figure.
- Reserves. Some obligations have not yet been paid but are already reserved. Growth in reserves also reflects future payments.
Which indicators to look at for a specific line
- Loss ratio — losses divided by earned premium for a line of insurance.
- Combined ratio — the loss ratio plus operating expenses. If it exceeds 100%, the line is unprofitable on underwriting and the company relies on investment income.
- Share of refusals and court disputes — an indirect indicator of claims handling quality.
- Concentration in one sales channel — for example, a high share of the bank channel in life insurance makes premium income sensitive to lending and interest rates.
How to compare insurers using their reports
The Bank of Russia discloses indicators for individual companies: premiums and payments by line, own funds and compliance with regulatory ratios. When comparing companies, look at the trend over several periods rather than a single quarter, and compare insurers of similar size and specialisation. A sharp rise in premiums with low payments in a risk line is a reason to find out how it was achieved.
What this means for the policyholder
Market statistics are background, not a ready answer to the question "where should I get insured". For a personal decision, the contract terms, exclusions, deductible, claims procedure and the financial stability of the particular insurer matter more. How to assess reliability is covered in our article on insurance company ratings. You can choose a policy and compare offers using comparison or by sending a request to Polis Re specialists.