Group News

10 years of CiV Life

This year, Russian insurer CiV Life is celebrating its tenth anniversary. The insurance company was founded in 2007 with registered office in Moscow and over recent years it has developed into one of the leading life insurers in the country. Last year, the insurer was ranked sixth by gross premiums among Russian life insurers with a market share of 4.2 percent. This makes it the biggest company in the marketplace which belongs to a foreign insurer.

CiV Life has a workforce of 105 employees and it has established a close partnership with Citibank. The insurer sells its policies in the areas of life, accident and credit insurance through the bank’s advisors. The company has provided insurance for 360,000 customers during the ten years it has been operating – and has proved successful: Since the company’s establishment, gross premiums have enjoyed double-digit growth. Gross written premiums stood at EUR 135 million as at the end of 2016, while the operating profit (EBIT) has reached EUR 8 million. The company’s contribution to Group net income was EUR 6 million in 2016.