OREANDA-NEWS. The annual growth rate of agreements signed totalled 11%. This is the first time demands for insurers’ services grew over the last 1.5 years, insurers’ quarterly reports posted on the Bank of Russia website say.

The volume of insurance premiums collected over the reporting period totalled 289.4 billion rubles, which is by 15% more against a similar period in 2015. Life insurance (due to investment component programmes) and OSAGO (due to the growth of average premium by 11% to 5,945 rubles) segments still retain their market driving positions. The collision and comprehensive coverage insurance market slowed down its fall, however it is still detrimental to the dynamics of the total volume of insurance premiums.

The aggregate payments in 2016 Q2 grew slower if compared to premiums (+3.3% with regard to a similar period in 2015) and totalled 127.8 billion rubles. The OSAGO segment is the key contributor to its dynamics with the annual growth of payments being 44.4% and the average payments increase by 34% to reach 55,800 rubles.