Russian insurers' payouts total 1.3 trln rubles in H1, assets reach 7 trln rubles - prime minister

MOSCOW. Sept 21 (Interfax) - Total payouts by Russian insurers rose 16% year-on-year to 1.3 trillion rubles in H1 2026, Prime Minister Mikhail Mishustin said, citing these figures during a video address to participants of the Moscow Financial Forum on Monday.

"The insurance market is also showing steady growth," he noted.

"In the first six months [of 2026], the volume of payouts to individuals and businesses totaled 1.3 trillion rubles, an increase of nearly 16% compared to the same period last year. This result was driven primarily by endowment life insurance, voluntary health insurance, comprehensive auto insurance (CASCO), and compulsory motor third-party liability insurance (OSAGO). Moreover, growth observed across all key segments," Mishustin said.

Mishustin also reported that the total assets of Russian insurance companies "exceeded 7.3 billion rubles, having increased nearly 22% in the Q1 [of the current year] compared to the same period last year. About half of these funds are invested in bonds issued by the state, development institutions, and companies in the information technology, telecommunications and electric power sectors."

The insurance industry is "expanding into the new regions as well," Mishustin noted

"Nearly one million insurance contracts have been concluded there during the same period. In the second quarter alone, there was an increase of more than one third compared to the same period last year. Moreover, insurance there is no longer limited to mandatory types, as a significant portion consists of voluntary forms," he said.

"In essence, the sector has already become one of the sources of very long-term capital," Mishustin concluded.

Mishustin recalled that late last summer, at a meeting of the Council for Strategic Development and National Projects, the head of state set the task of "launching a new investment cycle."

"Work on this is already underway, and conditions are being created for the emergence of so-called 'long-term money'," he explained.

In addition to long-term life insurance contracts, the long-term savings program also contributes to achieving this goal, Mishustin added.