Sergey Bakeshin has provided his comments to Pravo.ru about the situation in the insurance market

Sergei Bakeshin - Counsel

According statistics from the Bank of Russia, in the first quarter of 2018, the segment of private insurance provided more than half of the growth for the insurance services. At the same time, the most popular types of insurance were investment and credit insurance.

Senior Associate at Maxima Legal, Sergey Bakeshin, explained the popularity was due to their active promotion. “The state provides tax breaks for payments made for insurance premiums of up to 120,000 roubles a year. The bank provides clients, taking part in the life insurance programmes, with higher interest rates on their savings.  Considering the overall low levels of interest rates, particularly currency rates, and the unstable financial market, such offers are proving to be more profitable”, explained Sergey to Pravo.ru.

To read the article in full, please see the Pravo.ru website.