Volume and Growth
Insurance is a business of volumes and a large sales volume allows insurance companies to diversify their risks, maintain their infrastructure, meet their payment obligations, and still be effective. In today’s insurance market it is increasingly difficult for smaller companies to maintain profitability, independence and continue to provide competitive tariffs and service to the clients.
When choosing your insurance company pay attention to the growth rates of that company, they should match the market rates or be higher.
For 5 years in a row, Renaissance Insurance is in the market’s top ten in terms of premiums. Given the current market competition, this is only possible due to the annual growth at or above the market level. The 2009-2010 financial crisis affected the results of all insurance companies – some had to leave the market while others operated at a loss after lowering their prices. Our Company conducted a responsible pricing policy and deliberately reduced sales in order to preserve financial stability and reliability for our clients. As a result, the dynamics of our growth since 2005 look as follows (in billion rubles): According to 2012 results, the market share of Renaissance Insurance is 2.3%
