The insurance market discusses new ways of reinsurance abroad

Insurers and brokers are discussing cooperation on reinsurance with companies from Southeast Asia, China, India, Belarus, Kazakhstan, etc. These directions look promising, but there are significant risks and nuances of interaction, including the probability of non-receipt of payment and restrictions on the part of foreign partners.

Participants in the insurance market consider the expansion of the capabilities of reinsurance abroad, they told Kommersant three sources from among insurers and brokers.

“We support dialogue with international reinsurance companies from India, China, from the Middle East, and Africa. I know that some of our colleagues in the insurance market had similar meetings, ”says Sergey Khudyakov, a co -owner of the Mains insurance broker. According to him, the topic of discussion was mainly the line of industrial and transport insurance products: property, goods, responsibility, SMR, aviation, marine transport. Negotiations were accompanied by a request for a large amount of information from foreign companies and extremely restrained optimism in the Cloarrian dialogs, Mr. Khudyakov notes. In addition, the RNPK is negotiating risks with partners from the CIS countries and other friendly countries, including China and India (See “Kommersant” dated April 9).

The market participants have achieved about the same results, the sources of Kommersant say.

In particular, according to Kommersant’s interlocutor in the insurance market, representatives of Southeast Asia, China, India, Belarus and Kazakhstan are ready to reinsure property risks of industrial enterprises at a rate of the RNPK, or slightly lower.

Today, the approximate tariff of the RSPK for reinsurance of property is 0.1% of the insurance amount, which is calculated hundreds of billion rubles, experts say.

The available capacity in these countries is $ 150–250 million per risk, Kommersant’s interlocutor said in the insurance market. According to Andrei Tversky Zetta Corporate Insurance Director, this is a “good capacity” that is enough for a middle plant or a warehouse, but still not enough for large industrial enterprises and logistics centers. At the same time, insurance companies in test mode have already concluded several dozen reinsurance contracts with Iran, the potential market capacity of which is $ 150 million per risk.

From the data of the Central Bank, it follows that the share of bonuses transferred to reinsurance abroad was 2%at the end of 2024. Alternative reinsurance capacities are extremely important for insurers, market participants say. The expansion of the partners’ pool will diversify the reinsurance portfolio and reduce the influence of the RNPK on the underwriting of insurers, Mr. Tverskaya notes. Insurers see a fairly large risk transmission potential. At the first stage, this can be 10–20% of the total market for outgoing reinsurance, and in the future the share can increase to 50%, Mr. Tverskaya believes. According to VSS, it is potentially possible to transfer about 30–40% of the previous volume to friendly countries (30–40 billion rubles).

The most promising partner countries are China and India, experts say.

“China looks especially promising, because it has a developed insurance market, is able to accept large volumes, offers favorable conditions for reinsurance, and has a stable financial system. Iran looks the least promising due to its own sanctional restrictions, ”VSs are sure. According to the managing director of the ratings of the insurance and investment companies « expert RA » Alexei Yanin, in Belarus and Kazakhstan, although less than the Asian giants, the potential of the markets, but there may be much higher readiness and practical opportunity to work with Russian risks.

At the same time, the nuances of working with foreign partners remain. For example, China is ready to take only the Russian foreign business for reinsurance, other countries ask for the history of risk insurance over several years, Kommersant’s interlocutor in the insurance market notes. There is a special specificity in the Chinese market, which consists in a very cautious policy of working with new partners, mandatory accreditation with the recommendations of Chinese companies is required, says Mr. Tverskaya. There are differences in contractual practice, formulations, communication speeds, linguistic features, says Sergey Khudyakov. At the same time, according to him, the main restraining risk is non -renewal of the payment of compensation.

Julia Proving