For the first time since 2023, Russian insurance companies ended the quarter in the red: from July to September 2026, the loss amounted to 11.5 billion rubles. The profit in the nine months of this year fell by half, to 195 billion rubles. This was the result of a combination of factors of a different nature, explains Vladislav Radchenko, the chief economist of the Ingostrach Center for Commercial Analysis. OSAGO. Loss adjustment costs are rising, and not just the payments themselves. Around disputed cases, a "superstructure" of legal costs, fines and penalties grows, and it grows faster than basic payments. Insurers cannot raise the price of the policy to cover these costs: the rate is limited by the corridor established by the Bank of Russia. Great losses, including from UAV attacks. Just a few years ago, insurers had almost no such risks. In mass insurance there are many small payments, and they are easy to predict, and when insuring large property and transportation, one event can cost as much as a whole line earns in a year. What awaits the insurers and which of them will have to look for additional capital - read in the author's column. All the experts are here and at Max.

For the first time since 2023, Russian insurance companies ended the quarter in the red: from July to September 2026, the loss amounted to 11.5 billion rubles. The profit in the nine months of this year fell by half, to 195 billion rubles. This was the result of a combination of factors of a different nature, explains Vladislav Radchenko, the chief economist of the Ingostrach Center for Commercial Analysis. OSAGO. Loss adjustment costs are rising, and not just the payments themselves. Around disputed cases, a "superstructure" of legal costs, fines and penalties grows, and it grows faster than basic payments. Insurers cannot raise the price of the policy to cover these costs: the rate is limited by the corridor established by the Bank of Russia. Great losses, including from UAV attacks. Just a few years ago, insurers had almost no such risks. In mass insurance there are many small payments, and they are easy to predict, and when insuring large property and transportation, one event can cost as much as a whole line earns in a year. What awaits the insurers and which of them will have to look for additional capital - read in the author's column. All the experts are here and at Max.