Two Large Insurers Quitting the Russian Health Insurance Market

Slon.ru reports that Uralsib and Alliance, two major insurance companies, are looking to sell their health insurance businesses.  Slon.ru cites Russian business daily Vedomosti and its three sources from the companies’ top management.

Allianz spent the last three months collecting bids for its Rosno-MS subsidiary. The value of Allianz’s health insurance business is estimated at between 2-3 billion rubles (USD 31-46 million). Prior to spinning off its health insurance, Allianz started to wind down its retail insurance business. Allianz is the second largest insurance company in Russia, with more than 17 million clients.

Approximately a month and a half ago, Uralsib followed Allianz’s suit and put up its health insurance business for sale.

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