In this Insurance Institute of London (IIL) London Market lecture Surgey Churilov talked about the Russian insurance market, the history and background of Ingosstrakh and its position in local and international markets.

A lot has changed in the past five years in the global economy and the Russian insurance market. Sanctions imposed against Russia by different countries are getting deeper and stronger.

The Russian insurance market is still observing the trend of participants reduction.

The market for insurance services is quite stable, with one exception – compulsory third-party motor liability (OSAGO). It needs the tariff system to be changed.

Currently Ingosstrakh is one of the leading companies, as it is one of the most financially stable organisations and it is ready to face challenges.