COVID-19 and the Russian insurance market : negative implications for premium growth, but opportunities for innovation

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      <subfield code="a">The economic hit inflicted on Russia by the COVID-19 pandemic and a sharp decline in global oil prices filtered through to the country's insurance sector, which experienced a volatile year. While most lines of business enjoyed premium income drop by around 13% year-on-year, before bouncing back somehat with a 10% year-on-year rise in the third quarter, according to figures from the financial regulator, The Central Bank of the Russian Federation (CBR). Total premium for the first nine months of 2020 was up 3% on the same period the previous year.</subfield>
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