— It is incorrect to estimate the income of insurance companies from compulsory motorcycle liability insurance on a cash basis, as they have to set aside reserves for payments on liabilities from previous years. It is important that the average payout to victims grows, while the average price of the policy remains virtually unchanged. At the moment, the average amount of material compensation for an accident has reached the level of 100,000 rubles,” Evgeniy Ufimtsev responded to the question of an observer from the AvtoVzglyad portal about the stable and long-term exceedance of the growth of income from sales of “motor vehicles” over the payment of compensation to citizens injured in an accident.

Note that the reference to reserves for payments from previous years is not in fact entirely correct. Yes, the legislation on compulsory motorcycle liability insurance allows the car owner to file a claim for compensation with the insurer within three years of the accident. So, according to the Central Bank, in 2020 Russian insurance companies sold MTPL policies for 220 billion rubles and paid out 137.4 billion to the victims, that is, they retained a total of 38% of the premium collected from drivers. Of course, taking into account all reservations.

In 2021, collections amounted to 236 billion and payments amounted to 153 billion. For example, 36% of the proceeds ended up in insurance accounts/pockets. That year they also had to pay for incidents from previous years. In 2022, they collected 273.5 billion rubles and paid out 157.3 billion, the turnover was 43%. Despite the obvious compensation for ‘tails’ by insurers over previous years. And in the nine months of 2023, they have already sold 239 billion in mandatory motorcycle liability insurance, paying out 119 billion to victims. That is, insurers have kept even more for themselves this year – about 50% of the money collected from car insurance. owners. The work with payments “for old things” did not stop either.

It is clear from these figures that even after accounting for reserves and other expenses, insurers consistently make large profits. No matter how someone tries to convince the media and car owners otherwise.

— It is incorrect to estimate the income of insurance companies from compulsory motorcycle liability insurance on a cash basis, as they have to set aside reserves for payments on liabilities from previous years. It is important that the average payout to victims grows, while the average price of the policy remains virtually unchanged. At the moment, the average amount of material compensation for an accident has reached the level of 100,000 rubles,” Evgeniy Ufimtsev responded to the question of an observer from the AvtoVzglyad portal about the stable and long-term exceedance of the growth of income from sales of “motor vehicles” over the payment of compensation to citizens injured in an accident.

Note that the reference to reserves for payments from previous years is not in fact entirely correct. Yes, the legislation on compulsory motorcycle liability insurance allows the car owner to file a claim for compensation with the insurer within three years of the accident. So, according to the Central Bank, in 2020 Russian insurance companies sold MTPL policies for 220 billion rubles and paid out 137.4 billion to the victims, that is, they retained a total of 38% of the premium collected from drivers. Of course, taking into account all reservations.

In 2021, collections amounted to 236 billion and payments amounted to 153 billion. For example, 36% of the proceeds ended up in insurance accounts/pockets. That year they also had to pay for incidents from previous years. In 2022, they collected 273.5 billion rubles and paid out 157.3 billion, the turnover was 43%. Despite the obvious compensation for ‘tails’ by insurers over previous years. And in the nine months of 2023, they have already sold 239 billion in mandatory motorcycle liability insurance, paying out 119 billion to victims. That is, insurers have kept even more for themselves this year – about 50% of the money collected from car insurance. owners. The work with payments “for old things” did not stop either.

It is clear from these figures that even after accounting for reserves and other expenses, insurers consistently make large profits. No matter how someone tries to convince the media and car owners otherwise.