16:00, 6 October 2008 Page views 342 views

Volume of Insurance Products’ Sales through Banking Channels Decreases

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According to Sergey Logvinenko, CEO of the Ural Branch of Renaissance Insurance Group, the crisis in the Russian financial market has not yet affected the insurers’ basic activity. However, if the bank crediting market declines, the volume of sales of the insurance products through the banking channels will decrease sharply. Besides, in 2008, because of the problems on the exchange market, the profitability of investments, which is an important part of the insurance companies’ profits, will be lower than was preciously expected.

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