Over the past year, two trends have emerged on the OSAGO insurance market. In addition to its liberalization, which has already borne fruit in the form of a 5% reduction in tariffs, the second is gaining momentum - the consolidation of the region.
As elsewhere, most of the premiums - more than 3/4 - are collected by two dozen large and reliable companies, while smaller insurers need to divide the remaining 25%. In the future, according to experts, there will be at least 100 insurance providers in the region. The rest will either leave the market or merge with each other in financial ecstasy.
What does this mean for Russian car owners? It is more profitable to focus on large insurers, they certainly will not disappear in the fog, at least in the near future. And if you are looking for where to insure a car, we bring to your attention a list of the 10 most reliable insurance companies for MTPL 2020, whose rating (according to the Expert RA agency) is AA- and higher.
10. Energogrant
Rating: ruAA-
The rating of the best insurance companies for OSAGO in 2020 is opened by Energogarant, in which about two-thirds of the insurance portfolio is given to OSAGO and Casco.
True, the past year turned out to be not brilliant for Energogarant - representatives of the tax inspectorate stepped on the company's doorstep and strongly recommended paying taxes, penalties and fines, the total amount of which is 1.5 billion rubles. Energogarant does not want to pay and is going to deal with the Federal Tax Service in court.
9. Rosgosstrakh
Rating: ruAA-
It is one of the oldest players in the Russian insurance market. And in this case, age only adds solidity to the company, it continues to actively sign contracts and pay compensation.
Last year turned out to be successful for Rosgosstrakh. According to the press service of the insurer, the number of signed contracts increased by almost 3 million copies. However, a fly in the ointment spoiled the optimistic barrel of honey - in February, the Central Bank again fined Rosgosstrakh. This time the reason was a careless attitude to information, it seems that the company was inclined to get rid of insurance documents, which were required by law to keep.
8. Renaissance Insurance
Rating: ruAA-
But the Renaissance Insurance group is a child of recent years. In 2017, several more insurers decided to sail under the flag of two existing "renaissance" companies. As a result, a rather influential organization in the insurance market was born.
In the same 2017, the newly formed company managed to take the seventh place in terms of car insurance premiums. True, after a year and a half it suddenly became clear that at least 50% of the Renaissance Insurance group were pledged by another bank, which once provided the insurer with a loan. But everything ended well for Renaissance, and the loan was repaid ahead of schedule.
7. MAX
Rating: ruAA-
MAKS is one of the leading players in the Russian auto insurance market, and its history dates back to perestroika. Initially, the insurer specialized in the insurance of nuclear and energy companies.And the company began to develop the automotive industry only from the beginning of this millennium.
Currently, MAKS is not doing well, and therefore the Expert RA agency changed the company's rating to AA-. In the third quarter of 2019, the result of MAKS's insurance operations was negative, and the percentage of insurance premiums received decreased by one third compared to the previous year. Will MAKS manage to get out of a difficult situation? Time will tell.
6. ВСК
Rating: ruAA
Another major player in the OSAGO market. In terms of collection of insurance premiums, this company has long been in the top ten. Even Vladimir Vladimirovich himself personally expressed gratitude to the company's labor collective, tirelessly working in the field of insurance.
They love VSK and the media (according to the citation index last year, VSK became the undisputed leader). And recently this insurer received another Company of the Year award.
5. RESO-Guarantee
Rating: ruAA +
The top 5 OSAGO insurance companies of 2020 are opened by an old-timer of the Russian insurance market, who has been operating since 1991.
Last year, the company's share in the Russian insurance market was 6.2%. Moreover, car premiums account for most of the insurance portfolio:
- contributions for compulsory motor third party liability insurance amounted to about a third of the total,
- CASCO - 26%.
RESO works mainly in the capital of our country. It is Moscow that accounts for almost half of the awards for the three quarters of 2019. Losses on VHI spoil the rosy picture a little, but this does not apply to the topic of our rating. Even in spite of the setbacks in this area, RESO ranked fifth in Russia in terms of contributions over the past year.
4. Alfa Insurance
Rating: ruAA +
According to Forbes, AlfaStrakhovanie is the largest private insurance company in Russia. Although the company is active throughout the Russian Federation, the largest share of contributions traditionally falls on Moscow.
In general, "Alpha" has its own strong 7% of the market, is consistently in the top ten in terms of contributions and generally lives well: according to the results of 2019, it took third place in the collection of insurance premiums (108.3 billion rubles).
3. SOGAZ
Rating: ruAAA
Although SOGAZ does not keep statistics on OSAGO separately, you can indirectly get an idea of the development of this area in the company's activities by looking at the results of collected premiums on insurance that is not life insurance.
The share of non-life insurance at the Gazprom subsidiary is the highest: last year it amounted to 22%, which significantly exceeds the indicators of its closest rivals - AlfaStrakhovanie (11.2%) and Ingosstrakh (8.8%) ...
However, in reality, everything turns out to be not so rosy for clients. SOGAZ has a very low ratio of the number of settled claims to those declared under OSAGO. In 2019, it accounted for more than half (50.7%) of all cases.
2. Ingosstrakh
Rating: ruAAA
The oldest insurance company in Russia is in second place among the best OSAGO insurers in Russia. She is the direct successor of the USSR Main Directorate of Foreign Insurance, created immediately after World War II.
Despite more than half a century of history, Ingosstrakh has managed to adapt to changing conditions. At the moment it is one of the most active insurance companies, leading both in premium collection and in media mentions. In terms of the latest indicator, Inosstrakh in 2019 was bypassed only by AlfaStrakhovanie.
Ingosstrakh pays special attention to auto hull insurance, which accounted for more than a quarter of insurance premiums over the past year. And, although most of the contributions (more than half) were collected in the giant metropolis - Moscow, the company is also represented in other regions of Russia. There are more than 83 of them.
1. VTB Insurance
Rating: ruAAA
In the first place among the most reliable providers of OSAGO, the Expert RA agency has put the company "VTB Insurance". It is one of the subsidiaries of VTB Group, which for a long time was one of the leaders in the number of collected insurance premiums.
Why was"? Because in March last year, the company was acquired by the already mentioned SOGAZ JSC and is currently undergoing a takeover procedure (or integration, in scientific terms).
Some doubts about the insurance future of the company are caused by the fact that one of the main factors in assigning "VTB Insurance" AAA rating was the insurer's partner bank - "VTB Bank". And the main shareholder of VTB Bank is the government of the Russian Federation.
We add that “reliable” and “financially stable” are not always synonymous with “customer friendly”. VTB Insurance has one of the highest rates of refusals to pay insurance compensation. Over the past year, the company underpaid almost a quarter of its clients for accidents and illnesses and 8% of insured auto hull insurance. The most unlucky people were those who insured their property with VTB. Exactly one third of them did not receive insurance payments.