Insurance in Russia

Introduction

Insurance in Russia industry profile provides top-line qualitative and quantitative summary information including: market size (value 2006-10, and forecast to 2015). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market. Essential resource for top-line data and analysis covering the Russia insurance market. Includes market size and segmentation data, textual and graphical analysis of market growth trends, leading companies and macroeconomic information.

Highlights

*The insurance market consists of the non-life insurance sector and the life insurance sector. The value of the market is shown in terms of gross premium incomes. The life insurance sector consists of mortality protection and annuity. The non-life insurance sector consists of accident and health, and property and casualty insurance segments. The insurance market depends on a variety of economic and non-economic factors, and future performance is difficult to predict. The forecast given in this report is intended as a rough guide to the direction in which the market is likely to move. This forecast is based on a correlation between past market growth and growth of base drivers, such as house price growth, GDP growth and long-term interest rates. All currency conversions have been calculated at constant annual 2010 average exchange rate.

*The Russian insurance market had total gross written premiums of $34.2 billion in 2010, representing a compound annual growth rate (CAGR) of 14.7% between 2006 and 2010.

*The non life insurance segment was the market's most lucrative in 2010, with total gross written premiums of $33.5 billion, equivalent to 97.8% of the market's overall value.

*The performance of the market is forecast to decelerate, with an anticipated CAGR of 12.4% for the five-year period 2010 - 2015, which is expected to drive the market to a value of $61.3 billion by the end of 2015.

Features

Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the insurance market in Russia

Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the insurance market in Russia

Leading company profiles reveal details of key insurance market players’ global operations and financial performance

Add weight to presentations and pitches by understanding the future growth prospects of the Russia insurance market with five year forecasts

Macroeconomic indicators provide insight into general trends within the Russia economy

Key Questions Answered

What was the size of the Russia insurance market by value in 2010?

What will be the size of the Russia insurance market in 2015?

What factors are affecting the strength of competition in the Russia insurance market?

How has the market performed over the last five years?

What are the main segments that make up Russia's insurance market?
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TABLE OF CONTENTS
EXECUTIVE SUMMARY 2
MARKET OVERVIEW 7
Market definition 7
Research highlights 8
Market analysis 9
MARKET VALUE 10
MARKET SEGMENTATION I 11
MARKET SEGMENTATION II 12
FIVE FORCES ANALYSIS 13
Summary 13
Buyer power 14
Supplier power 15
New entrants 16
Substitutes 18
Rivalry 19
LEADING COMPANIES 20
AXA 20
SOGAZ 25
Ingosstrakh Insurance Company 28
Rosgosstrakh 29
MARKET FORECASTS 30
Market value forecast 30
MACROECONOMIC INDICATORS 31
APPENDIX 33
Methodology 33
Industry associations 34
Related Datamonitor research 34
Disclaimer 35
ABOUT DATAMONITOR 36
Premium Reports 36
Summary Reports 36
Datamonitor consulting 36

LIST OF TABLES
Table 1: Russia insurance market value: $ billion, 2006–10 10
Table 2: Russia insurance market segmentation I:% share, by value, 2010 11
Table 3: Russia insurance market segmentation II: % share, by value, 2010 12
Table 4: AXA: key facts 20
Table 5: AXA: key financials ($) 22
Table 6: AXA: key financials (€) 22
Table 7: AXA: key financial ratios 23
Table 8: SOGAZ: key facts 25
Table 9: SOGAZ: key financials ($) 26
Table 10: SOGAZ: key financials (RUB) 26
Table 11: SOGAZ: key financial ratios 26
Table 12: Ingosstrakh Insurance Company: key facts 28
Table 13: Rosgosstrakh: key facts 29
Table 14: Russia insurance market value forecast: $ billion, 2010–15 30
Table 15: Russia size of population (million), 2006–10 31
Table 16: Russia GDP (constant 2000 prices, $ billion), 2006–10 31
Table 17: Russia GDP (current prices, $ billion), 2006–10 31
Table 18: Russia inflation, 2006–10 32
Table 19: Russia consumer price index (absolute), 2006–10 32
Table 20: Russia exchange rate, 2006–10 32

LIST OF FIGURES
Figure 1: Russia insurance market value: $ billion, 2006–10 10
Figure 2: Russia insurance market segmentation I:% share, by value, 2010 11
Figure 3: Russia insurance market segmentation II: % share, by value, 2010 12
Figure 4: Forces driving competition in the insurance market in Russia, 2010 13
Figure 5: Drivers of buyer power in the insurance market in Russia, 2010 14
Figure 6: Drivers of supplier power in the insurance market in Russia, 2010 15
Figure 7: Factors influencing the likelihood of new entrants in the insurance market in Russia, 2010 16
Figure 8: Factors influencing the threat of substitutes in the insurance market in Russia, 2010 18
Figure 9: Drivers of degree of rivalry in the insurance market in Russia, 2010 19
Figure 10: AXA: revenues & profitability 23
Figure 11: AXA: assets & liabilities 24
Figure 12: SOGAZ: revenues & profitability 27
Figure 13: SOGAZ: assets & liabilities 27
Figure 14: Russia insurance market value forecast: $ billion, 2010–15 30


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