Russian insurance industry profits up nearly 25%

Data from the Central Bank of the Russian Federation showed that local insurers’ pre-tax profits jumped 24.6% year-on-year to 230.4 billion Russian rubles ($3 billion) in the first three quarters of the year, Xprimm reported.

Non-life insurance segment reported 1.1% growth in net profit to RUB161.4 billion.

Source: Business Insurance