2014-01-29 00:42:02 - Non-Life Insurance in Russia, Key Trends and Opportunities to 2017 - a new market research report on companiesandmarkets.com
The Russia non-life insurance market increased at a CAGR of 6.1% during the review period. The government has undertaken several initiatives to improve the legal environment which helped to increase the demand for insurance products.
During 2011â2012, the government introduced two new mandatory insurance classes: hazardous industrial facilities insurance and carriers´ liability insurance for underground railways. Over the forecast period industry growth will be driven by growing automobile and construction markets and the introduction of new mandatory insurance policies and an increase in FDI limits.
Motor insurance was the largest category in the non-life insurance segment, representing a share of 59.7% in 2012. Direct marketing was the largest distribution channel. The Russian non-life insurance segment is highly concentrated, with the ten-leading companies
collectively accounting for 79.7% of the segment in 2011.
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