Russian insurance companies’ benchmarks in 2014 survey have just been completed by Expert Rating Agency. According to the survey, VTB Insurance leads the market in terms of efficiency of assets use among major insurers.
Efficiency of VTB Insurance totals 33.7%, Expert reports. This is several times more than other market majors’ performance. Moreover, according to the survey, VTB Insurance was a market leader in terms of profitability. Last year, the company earned 2.1 billion rubles and held the third position in the net profit ranking.
“We put great emphasis on our business efficiency and quality of our portfolio,” said Gennady Galperin, CEO of VTB Insurance. “That is why we have a small share of very unprofitable auto insurance while the most of our portfolio falls within traditionally profitable bank insurance. Thanks to this, even with smaller business turnover, our company’s efficiency and profitability are better than those of other market leaders.”