As reports “Finmarket” with reference to Director of insurance market Department of the Bank of Russia Igor Zhuk, the Bank of Russia intends to check the assets and capital of 130 insurance companies. During the meeting, round table “Development of national insurance — regional perspective” on Tuesday, Zhuk stated that these companies are currently at risk. This beetle is assumed that by the end of 2016 the Russian insurance market will remain 200 active companies.
In January 2016 in the Unified state register of insurance entities were 325 companies having the license for carrying out insurance operations. Thus, to the risk group the Bank classifies about 40% of all companies working now.
In October 2015, the bug has been evaluated by the proportion of at risk insurance companies in 38% of the total number of participants of the insurance market. However, since the number included in the register of insurers have decreased dramatically, only in January 2016, the Central Bank withdrew the license for implementation of insurance in nine companies. Among the reasons for the revocation was the failure to comply with the financial stability and solvency regarding formation of insurance reserves and the manner and conditions of investments of equity funds and insurance reserves.
Earlier with the similar forecast was made by the President of the Russian Union of insurers (VSS) Igor Jurgens. “If we look truth in the eye, by the end of next year the market will remain about 200 organisations,” said Jurgens in October 2015.
The beetle then explained that the Central Bank does not set itself the goal of reducing the number of employees in Russia insurance companies, its task is to adjust the assets of these companies in accordance with the rules.
Total net profit of Russian insurance companies by the end of 2015 experts “Interfax-CEA” has estimated at a record $ 120 billion rubles. However, experts also noted that the total number of prisoners in 2015 contracts for most types of insurance has decreased and in 2016, the negative trends may worsen.