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Insurance market growth slows

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Igor Yurgens, head of the All-Russian Insurance Association, has said that the Russian insurance market saw slower growth in the first quarter of 2015 compared with the same period in 2014, reported Forinsurer.

The market grew only 1-2% during the period compared with 9.2% in first quarter of 2014. The top 20 insurers of the Russian insurance market accounted for 77-79% of the total market in terms of premium during the period, said Mr. Yurgens. The growth rate of insurance contributions will be 6-9% in 2015 as per a baseline forecast.

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