Non-Life Insurance in Russia, Key Trends and Opportunities to 2015

Synopsis

The report provides top-level market analysis, information and insights into the Russian non-life insurance industry, including:

• The Russian non-life insurance industry's growth prospects by product category and customer segment
• The various distribution channels in the Russian non-life insurance industry
• The competitive landscape in the non-life insurance industry in Russia
• A description of the non-life reinsurance market in Russia

Executive Summary

Until the global economic crisis, the Russian non-life insurance market grew at a healthy rate before slowing during the crisis period. The market recovered in early 2010. The market is highly fragmented with more than 600 insurers operating in it. The market is expected to consolidate over the forecast period, with larger companies acquiring smaller ones and some smaller insurers exiting the market. Although the Russian non-life insurance market recorded healthy growth over the 2006-2010 review period, it remains largely underpenetrated.

Scope

This report provides a comprehensive analysis of the non-life insurance market in Russia:

• It provides historical values for Russia's non-life insurance industry for the report's 2006-2010 review period and forecast figures for the 2011-2015 forecast period
• It offers a detailed analysis of the key sub-segments in Russia's non-life insurance industry, along with market forecasts until 2015
• It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, frauds and crimes, total assets, total investment income and retentions
• It analyses the various distribution channels for non-life insurance products in Russia
• Using Porter's industry-standard "Five Forces" analysis, it details the competitive landscape in Russia for the non-life insurance business
• It provides a detailed analysis of the reinsurance market in Russia and its growth prospects
• It profiles the top non-life insurance companies in Russia, and outlines the key regulations affecting them

Reasons To Buy

• Make strategic business decisions using top-level historic and forecast market data related to the Russian non-life insurance industry and each sector within it
• Understand the demand-side dynamics, key market trends and growth opportunities within the Russian non-life insurance industry
• Assess the competitive dynamics in the Russian non-life insurance industry
• Identify the growth opportunities and industry dynamics within key product categories
• Gain insights into key regulations governing the Russian insurance industry and its impact on companies and the industry's future

Key Highlights

• Until the global economic crisis, the Russian non-life insurance market grew at a healthy rate before slowing during the crisis period
• The market size of non-life insurance is expected to increase from RUB406.2 billion (USD13.4 billion) in 2010 to RUB693.1 billion (USD22.9 billion) by 2015, at a CAGR of 11.1 percent.
• The market is dominated by local industrial insurers such as Rossgostrakh-Stolitsa, SOGAZ Insurance Group, Ingosstrakh, Reso Garantia, Voenno-Strakhovaya Kompaniya and others
• Foreign non-life insurers are expected to gradually increase their market shares
• Increasing credit levels and FDI limits will drive growth in the Russian non-life insurance market