June 29, 2020, Moscow - According to the results of 2019, Sberbank life insurance's endowment life insurance policies denominated in rubles yielded 8.15% while those denominated in dollars yielded 3.62%.

Under its life insurance endowment policies, Sberbank life insurance invests in reliable financial instruments, bringing customers additional investment income. As of late 2019, the company had about 300,000 valid endowment life insurance agreements, with insurance reserves exceeding RUB 60 bln. As much as 76% of the reserves were invested in long-term government bonds, with the remainder injected in corporate bonds.

Alexey Leonenko, CEO, Sberbank life insurance,

'Endowment policies let you make savings comfortably while also insuring your life and health for the entire duration of the contract. Moreover, thanks to a high-quality and well-thought-out approach to the formation of the investment portfolio, Sberbank life insurance annually accrues additional investment income under those policies. The yield announced at the end of 2019 is way above the inflation rate and the average rate on deposits at large banks, which, according to the Central Bank, amounted to 5.01% in the first ten days of June.'

Sberbank life insurance has been engaged in endowment life insurance since 2012, annually distributing additional investment income based on the actual return on its portfolio. In 2018, the announced investment return rates were 7.1% for life insurance endowment policies denominated in rubles and 3.4% for those denominated in dollars.

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Sberbank of Russia published this content on 29 June 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 01 July 2020 10:58:01 UTC