Russian Insurance Industry Forecast to 2014

Russian insurance industry has emerged as one of the fastest growing insurance industries across the world. The industry has witnessed tremendous growth on the back of compulsory insurance policies (primarily, compulsory motor TPL insurance and compulsory medical insurance) and sustainable progressive advancement of classic voluntary insurance.

As per our new research report “Russian Insurance Industry Forecast to 2014”, the Russian insurance market will continue to maintain its growth pace in coming years with an impressive CAGR of around 12.3% during 2011-2014. The availability of wide product range, various government initiatives, and increasing market concentration will contribute to the growth of the industry.

Besides, the introduction of laws on compulsory property insurance and liability insurance policy will fuel growth in the country’s insurance market. It is expected that, with the enactment of insurance for hazardous production sites, the liability insurance segment will grow at a CAGR of around 33% during 2011-2014.

As per our study, the penetration rate of insurance is still low compared to developing economies, such as India and China. The level of life insurance penetration in the country stood at 0.01% in 2010 as against 0.05% in 2008. With such a low penetration rate, the market represents enormous growth opportunities for insurance players.

Besides, our report covers various segments of non-life insurance market namely personal, property, liability, CMTPL, and compulsory health insurance. Additionally, the report identifies key players in the country’s insurance market and provides their detail business description. Most importantly, the report discusses emerging industry trends, such as bancassurance, reinsurance, pension fund, and so on, which will decide the future of the insurance sector in the country.

Our report “Russian Insurance Industry Forecast to 2014”, is an outcome of comprehensive research and rational analysis of the Russian insurance market. It identifies the rising importance of the Russian insurance industry potentials and its future outlook. The study assesses the present status of Russian insurance industry and identifies opportunities existing in the market. The report thoroughly investigates the current market trends, evolving markets, and growth prospects of the industry.
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1. Analyst View
2. Russia Insurance Market - An Overview
3. Market Performance
3.1 By Segment
3.1.1 Life
3.1.2 Non-life
3.1.2.1 Personal Lines Insurance
3.1.2.2 Property Insurance & Financial Risks
3.1.2.3 Compulsory Health Insurance
3.1.2.4 CMTPL
3.1.2.5 Liability Insurance
3.2 By Insurance Class
3.2.1 Compulsory
3.2.2 Voluntary
4. Industry Trends & Drivers
4.1 Insurance Penetration
4.2 Insurance Density
4.3 Reinsurance
4.4 Pension Market
4.5 Construction Risk Insurance
4.6 Potential in Bancassurance
5. Regulatory Developments
5.1 Business Lines Separation
5.2 Separate License for Reinsurance
5.3 Reserve Requirement
5.4 Asset Allocation
5.5 Changes in Insolvency Law for Insurance Companies
5.6 New Capital Requirement for Russian Insurance Companies
5.7 Compulsory Clinical Trial Insurance
5.8 Quota for Foreign Insurers
5.9 Proposal for Regulatory Changes
6. Key Players Analysis
6.1 Rosgosstrakh
6.2 Ingosstrakh
6.3 Sogaz
6.4 Reso-Garantia
6.5 Rosno
6.6 MAKS
6.7 KAPITAL STRAKHOVANIE
6.8 URALSIB
6.9 SPASSKIE VOROTA

List of Figures:

Figure 2-1: Insurance Premium (Billion RUB), 2009-2014
Figure 2-2: Insurance Claims Paid (Billion RUB), 2008-2010
Figure 2-3: Insurance Claims Paid by Segment (%), 2010
Figure 2-4: Number of Insurance Companies (2008-2010)
Figure 3-1: Share of Life and Non-life Insurance Premium (2010)
Figure 3-2: Life Insurance Premium (Billion RUB), 2009-2014
Figure 3-3: Life Insurance Claims Paid (Billion RUB), 2008-2010
Figure 3-4: Non-life Insurance Premium (Billion RUB), 2009-2014
Figure 3-5: Non-life Insurance Premium by Category (%), 2010
Figure 3-6: Non-life Insurance Claims Paid (Billion RUB), 2008-2010
Figure 3-7: Personal Lines Insurance Premium (Billion RUB), 2009-2014
Figure 3-8: Personal Lines Insurance Premium by Segment (%), 2010
Figure 3-9: Personal Lines Insurance Claims Paid (Billion RUB), 2008-2010
Figure 3-10: Property Insurance & Financial Risk Premium (Billion RUB), 2009-2014
Figure 3-11: Property Insurance Premium by Segment (%), 2010
Figure 3-12: Property Insurance Penetration (%), 2008
Figure 3-13: Property Insurance Claims Paid (Billion RUB), 2008-2010
Figure 3-14: Number of On-Road Vehicles (Million), 2008-2010
Figure 3-15: Compulsory Medical Insurance Premium (Billion RUB), 2009-2014
Figure 3-16: Compulsory Medical Insurance Claims Paid (Billion RUB), 2008-2010
Figure 3-17: CMTPL Insurance Premium (Billion RUB), 2009-2014
Figure 3-18: CMTPL Insurance Claims Paid (Billion RUB), 2008-2010
Figure 3-19: Liability Insurance Premium (Billion RUB), 2009-2014
Figure 3-20: Liability Insurance Premium by Segment (%), 2010
Figure 3-21: Liability Insurance Claims Paid (Billion RUB), 2008-2010
Figure 3-22: Voluntary and Compulsory Insurance Premium (Billion RUB), 2009-2014
Figure 3-23: Compulsory Insurance Premium by Segment (%), 2010
Figure 3-24: Voluntary Insurance Premium by Segment (%), 2010
Figure 4-1: Life and Non-life Insurance Penetration (%), 2008-2010
Figure 4-2: Life and Non-life Insurance Density (US$), 2008-2010
Figure 4-3: Reinsurance Premium (Billion RUB), 2009-2014
Figure 4-4: Reinsurance Premium by Segment (%), 2007
Figure 4-5: Reinsurance Claims Paid (Billion RUB), 2008-2010
Figure 4-6: Construction Risk Insurance Premium (Billion RUB), 2009 & 2010

List of Tables:

Table 4-1: Breakup of Ageing Population by Age Group (Million), 2009-2014
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