Russia Insurance Q1 2019
Prospects for growth in Russia's underdeveloped insurance market are substantial, however the challenges facingcarriers are commensurate with the size of the potential rewards on offer. Average household income rates remain low and there iscurrently limited awareness of the benefits of life cover among much of the huge potential consumer market. Restrictions onforeign investment means that global carriers have little access to the market and domestic carriers generally offer limiteddistribution lines and slim product ranges. Demand is on the rise, however, as income rates start to increase and consumerawareness improves, particularly in the life insurance sector.
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