Insurers are faced with the maximum level of payments on OSAGO


The level of payments on compulsory insurance of civil liability of vehicle owners (CTP) in 2016 was maximum for all history of this market. According to the report of the Russian Union of motor insurers (RAMI), in the past year, this figure representing the ratio of the amount of benefits to collected premiums, exceeded 70%. In 2015, it stood at 55.4 per cent. “Such a jump has not been observed. The highest this figure was in 2010 and 2014 — 59%”, — commented the results of the year the President of RSA Igor Yurgens, whose words are in the press release. The strong growth of payments the head of the Union binds with higher limits for insurance in 2014, which are as evident in the past year.

The average payout in insurance over the past year, according to PCA, increased by 40% and amounted to 69,024 thousand RUB, the average premium increased by 9%, to 6,032 thousand. “the Data show that the increase in the average payment-to-market significantly outpaced the growth in the average award almost 4.5 times”, — said Jurgens. In December 2016 the average premium decreased by 2% compared to the same period in 2015 and amounted to 6,051 thousand rubles, and the average payout has grown by a third, to 76,796 thousand RUB

Payments on prisoners in 2016, the contract CTP will continue in 2017 and will be much more, says managing Director of rating Agency “Expert RA” Alexey Yanin. “As far as we know, the level of payments for court costs and insurers were higher than in previous years. We can assume that the combined ratio (the difference between premiums and benefits, taking into account the upcoming loss. —) will exceed 100% even without taking into account the litigation,” notes managing Director of the National rating Agency Pavel Samiev.

The losses are multiplying

According to calculations based on data from PCA, at the end of 2016 in 16 of 85 insurers payments exceeded charges. However, only two of these companies are in the top 30 largest insurers OSAGO — “URALSIB” and “Rosgosstrakh”. SG “URALSIB” received the award in 1,796 bln, paid — 3,469 billion. the Difference between these percentages amounted to 1.67 billion rubles”Payments almost doubled the fees for insurance, since the company since the end of summer does not sell policies of insurance, that is, no new sales, and losses on the portfolio will be settled in the usual mode”, — said the employee of press-service SG “URALSIB”.

“Rosgosstrakh” received 54,67 billion rubles of insurance premiums and payments — 68,85 billion rubles. Thus, the excess of payments above the award amounted to 14.2 billion rubles.

The representative “Rosgosstrakh” noted, “the results in General, the market associated with the “rampant “avtoyuristov” of all kinds”, especially in “toxic regions”. “This trend could not affect the performance of the market leader. In fact, we took on the entire burden of social responsibility inherent in CTP”, — he added.

Speaking about the resulting “Rosgosstrakh” loss, Samiyev noted that to compensate his company will have until the end of the year. “It is clear that the loss should be covered, but the main thing that all regulatory standards are adhered to, including on capital adequacy”, — says Samiev. According to him, because fundamentally, the situation on the market of CTP has not changed, it will continue to put pressure on the capital “Rosgosstrakh”. S&P analyst Ekaterina Tolstova believes that to correct the situation could issue additional 46 billion rubles, which “Rosgosstrakh” announced in 2016.

Hope for a natural compensation

Support for the CTP market have to have and impending legislative changes, providing for priority of repair over monetary compensation. As follows from the text of the bill approved by the government, the amendments shall enter into force on 1 March 2017.

According to samieva, the amendments to the law on insurance in the first place, the introduction of natural repair, should contribute to the stabilization of indicators of unprofitableness. However, he expects that the effect of the introduction of the new rules will not be felt until the second half of the year.

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