PPF Life Insurance in 2016: maintaining its leading position in respective market segments
PPF Life Insurance announces its full-year results for the year ending 31 December 2016. The company maintained its leading position in the market segments in which it operates. It ranked second among Russian life insurance companies in the segment of long-term policies with regular payments, while retaining its top rank in the specific pension programs segment.
Premiums collected amounted to RUB 2.9 billion*, a 5.2% increase year on year. This is against a backdrop of the savings and pension life insurance segment maintaining the same level as the previous year, while the overall life insurance segment grew, predominantly as a result of growth in unit-linked life insurance.
PPF Life Insurance’s main sales channel is its broad nationwide network of insurance agents; the premiums collected through this network grew by 8.6% over the course of 2016, while the number of agents in the network also rose from 3,200 to 3,900.
PPF Life Insurance’s assets stood at RUB 9.9 billion. Its claim reserve is RUB 7.6 billion.
Vít Sedláček, Chairman of the Board of Directors, PPF Life Insurance, commented: “We have been playing an important social role since 2002, protecting the welfare of people and their close relatives. We make sure our clients receive quality service. Last year, our company not only demonstrated stable growth, but also – and this is very important – greatly improved its principal reliability indicators by increasing the capital. Its amount grew from 255% to 386% of the standard rate required by the regulatory authority.”
* Based on Russian financial reporting standards (“RSBU”).