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Recently released market study: Russia Insurance Report Q1 2014


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2014-01-07 19:14:43 - New Financial Services research report from Business Monitor International is now available from Fast Market Research

At first glance, the main trends in Russia's insurance sector appear positive in late 2013. Nonlife premiums have been growing rapidly. Life insurance seems to be developing from a low base. Thanks partly to pressure from the regulator, much needed consolidation of the industry is underway. All this is in the context of an insurance sector where several of the largest players - and in particular market leader Rosgosstrakh (RGS) - clearly have scale by any standard. However, it is the weaknesses of, and threats to, the sector that dominate. Growth is overly dependent on compulsory lines. Neither the regulators nor the local insurance companies have made much progress in addressing the main challenge that must be overcome by the

life segment: the lack of trust on the part of individuals and households.

Full Report Details at
- www.fastmr.com/prod/759134_russia_insurance_report_q1_2014.aspx

At first glance, the prospects for Russia's insurance sector appear quite exciting. By any standard, the Russian non-life segment is both large and rapidly growing. Life premiums are surging, albeit from very low levels. The regulator has imposed new - and more stringent - capital requirements, which has contributed to the ongoing rationalisation of the insurance sector.

Nevertheless, as of late 2013, it remains easy to identify weaknesses in the Russian insurance sector. Thus far, much of the development of the industry has depended on the growth of compulsory lines. Compulsory Medical Expenses Insurance (CMEI) is by far the largest line and represents about half of all premiums written across the entire sector.

Financial literacy among households is low. Most fundamentally, Russian households do not have sufficient trust to engage in long-term contractual relationships with the life companies. Although foreign insurers have a significant presence (particularly in the life segment), they already account for 25% of the aggregate capital - the legal limit - within the segment. Many insurers face downwards pressure on prices and margins - whether from competitors or distributors. The move by savings bank giant Sberbank to become the leading player in bancassurance in Russia is a positive wildcard, but provides no guarantee that life insurance will move beyond an embryonic level of development within the forecast period.

Report Table of Contents:

BMI Industry View
- Table: Russia's Total Premiums, 2010-2017
SWOT
- Insurance
- Political
- Economic
- Business Environment
Industry Forecast
- Life
- Table: Total Life Premiums 2010-2017
- Non-Life
- Table: Russia's Non-Life Premiums, 2010-2017
Industry Risk Reward Ratings
- Central and Eastern European Risk/Reward Ratings
- Table: Central And Eastern Europe Risk/Reward Ratings
- Russia Insurance Risk/Reward Ratings
- Table: Russia Insurance Risk/Reward Ratings
Market Overview
- Life Sector Update
- Non-Life Sector Update
- Industry Trends And Developments
- Life Growth Drivers And Risk Management Projection
- Population
- Table: Insurance Key Drivers - Demographics, 2010-2017
- Non Life Growth Drivers And Risk Management Projections
- Macroeconomic Outlook
- Table: Russia - Economic Activity
- Political Stability Outlook
- Table: Europe Regional Security Ratings (scores out of 100, with 100 the best)
- Healthcare Insurance
- Table: Insurance Key Drivers, Disease Adjusted Life Years 2010-2017
- Motor
- Table: Insurance Key Drivers, Autos 2010-2017
Competitive Landscape
- Central And Eastern Europe Competitive Landscape
Company Profile
- Allianz
- ERGO
- Generali
- Rosgosstrakh (RGS)
- UNIQA Group
- Vienna Insurance Group (VIG)
Regional Overview
- Central & Eastern Europe - Life
- Table: Central And Eastern European Life Premiums, 2010-2017 (US$mn)
- Central & Eastern Europe - Non-Life
- Table: Central And Eastern Europe - Non-Life Premiums US$mn, 2010-2017
Demographic Forecast
- Table: Russia's Population By Age Group, 1990-2020 ('000)
- Table: Russia's Population By Age Group, 1990-2020 (% of total)
- Table: Russia's Key Population Ratios, 1990-2020
- Table: Russia's Rural And Urban Population, 1990-2020
Methodology
- Industry Forecast Methodology
- Risk/Reward Rating Methodology
- Table: Insurance Risk/Reward Ratings Indicators
- Table: Weighting Of Indicators

About Business Monitor International

Business Monitor International (BMI) offers a comprehensive range of products and services designed to help senior executives, analysts and researchers assess and better manage operating risks, and exploit business opportunities, across 175 markets. BMI offers three main areas of expertise: Country Risk BMI's country risk and macroeconomic forecast portfolio includes weekly financial market reports, monthly regional Monitors, and in-depth quarterly Business Forecast Reports. Industry Analysis BMI covers a total of 17 industry verticals through a portfolio of services, including in-depth quarterly Country Forecast Reports. View more research from Business Monitor International at www.fastmr.com/catalog/publishers.aspx?pubid=1010

About Fast Market Research

Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available.

For more information about these or related research reports, please visit our website at www.fastmr.com or call us at 1.800.844.8156.


Author:
Bill Thompson
e-mail
Web: www.fastmr.com
Phone: 18008448156

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