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Russia Insurance Report Q2 2016

Russia Insurance Report Q2 2016

BMI View: Following a weak domestic economy and currency movements, Russia's insurance sector isexpected to recover from 2016 onwards - with double-digit growth in some of the non-life sub-segments. Itis important to realise, however, that any escalations in regional tensions or more extensive sanctions couldreturn the sector to a period of decline. Given that Russia's investment conditions will continue to improveover the coming years, we are optimistic to see multinationals' interests return and further feed into thesector's growth potential.

Key Updates And Forecasts

Both Russia's life and non-life insurance segments are expected to reap the benefits of economicimprovements from 2016 onwards, which will entail a rise in GDP and customer spending power.

Importantly, however, in light of high inflation rates and lower wages, customers may be less willing tospend their money on big ticket items such as motor vehicles and properties. While life insurance isreasonably concentrated, with 50% market share held by the top 3 players, non-life insurance is relativelymore fragmented with the largest 3 players securing a third of the market. Over the coming years, weanticipate a degree of market consolidation in both major segments; especially among the smallerinsurance providers.

BMI Industry View
Table: Headline Insurance Forecasts (Russia 2013
Industry Forecast
Life Premiums Forecast
Table: Life Premiums (Russia 2013
Table: Life Insurance Claims (Russia 2008
NonLife Premiums Forecast
Table: Non
Life Premiums (Russia 20132020)
Table: Non
Life Insurance Claims (Russia 20092015)
NonLife SubSector Forecast
Table: Non
Life Insurance Premiums by Product Line (Russia 20132020)
Insurance Risk/Reward Index
Emerging Europe Risk/Reward Index
Table: Emerging Europe Insurance Risk/Reward Index
Market Overview
Life Market Overview
The Product Offering
The Competitive Landscape
Table: Russia Life Insurance Market (USDmn) 2009
NonLife Market Overview
The Product Offering
The Competitive Landscape
Table: Russia Non
Life Insurance Market (USDmn) 20112013
Company Profile
Rosgosstrakh (RGS)
Industry Forecast Methodology
Risk/Reward Index Methodology
Table: Indicators
Table: Weighting of Indicators

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