Losses “Rossgostraha” from the ban on insurance may exceed 13 billion rubles. – RBC

On Tuesday, the Central Bank announced that from May 27, limited license for the largest insurance company in the Russian insurance market “Rosgosstrakh”. Now, the insurer does not may enter into new contracts and insurance to make changes to existing ones. The company is obliged to make statements about the occurrence of insured events, and perform the obligations under previously signed contracts of CTP. In order to limit the insurance license of the Central Bank have a term for elimination of violations – six months. RBC calculated how much the company will lose if, within six months, will not return the right to sell insurance policies.

According to the IFRS financial statements, the insurance premiums of the “Rosgosstrakh” for insurance last year totaled 43.2 bln., which is about one-third of the total amount of premiums received by the company. Its insurance payments in 2014 amounted to 31 billion rubles. Taking into account other costs “Rosgosstrakh” earned 8.7 billion rubles insurance. In 2015, this trend may become unprofitable.

The average annual growth of insurance premiums “Rosgosstrakh” in the last three years (2012-2014) is 10.8%, an increase in payments – 19%. If the 2015 trend continues, the amount of insurance premiums could rise to 47.9 billion rubles., The amount of payments – to 36.9 billion rubles. When you stop selling policies for six months Award halved, to 24 billion rubles., And payments will remain. Thus, “Rosgosstrakh” could get 12.9 billion rubles. loss of CTP direction. «The order of digits is about the” – agrees with the calculations RBC CEO of the National Rating Agency Viktor Chetverikov. According to him, the loss of “Rosgosstrakh” for insurance because of the decision of the Central Bank may be even more – 15-20 billion rubles. Companies have to spend half of its reserves for insurance, which now account for 40% of the total reserved funds – 100 billion rubles., Adds Chetverikov.

insurance losses and impact on the overall profit insurer, which last year amounted to 4.2 billion rubles. The company pays customers for insurance on average 2.1 billion rubles. per month, recalls Managing Partner of Audit Company “Marillion” Sergei Kharitonov. If the restriction on the sale of insurance policies will not be withdrawn in two months, “Rosgosstrakh” will spend on paying the entire last year’s profit. “Compensate for the drop-down list on the amount of insurance when it will not succeed”, – said Kharitonov. “If the situation continues for a long time, the company runs the risk of not fulfill the standards of the Central Bank of solvency and reserves. This in turn may lead to additional sanctions “, – said the auditor.

The President of the Russian Union of Auto Insurers Igor Yurgens, in contrast, believes that the company’s solvency is not in doubt. “Sustainability” Rosgosstrakh “is not only associated with the insurance they have and other products, such as Casco. Due to the combination of these products had an allowance, which will fulfill all obligations “, – he added.

From the beginning, the regulator has given the insurer 385 orders to eliminate violations. “Violations LLC« Rosgosstrakh »insurance legislation, including failure to provide legitimate discounts for motorists breakeven, unjustified refusal to contract insurance, the imposition of value-added services, were widespread,” – the press service of the Bank of Russia .

The press service of “Rosgosstrakh” RBC to the question about the possible loss of license restrictions CTP did not answer. President of “Rosgosstrakh” Danil Khachaturov declined to comment.