Russia OSAGO policies up 1.4x in 9M, premiums +8%

Russian compulsory motor insurance (OSAGO) policy issuance surged 1.4x year-on-year to 53.1 million in 9M 2026, while premiums rose only 8%, implying a sharp drop in average premium per policy. This suggests increased vehicle sales and possibly regulatory changes, but the premium growth lag indicates competitive pricing or a shift to cheaper policies. The data is from the Central Bank's NSIS, so it is reliable, but the underlying drivers are not specified.