Russia Insurance Q4 2018
Russia's insurance industry is set for solid growth, particularly in the currently underdeveloped life insurance sector. Themarket has a lot to offer potential investors: Russia is home to a large population of almost 144mn, and while economic growth issluggish, we are seeing some improvements to employment and income rates, which will boost demand for a range of covers. Theoutlook for the life insurance sector in particular has improved as carriers, particularly those utilising bancassurance distributionmodels have been able to access more first time consumers. Barriers to entry for foreign insurers remain high, however, andescalating claims costs are also a concern in this fragmented marketplace, making it unlikely that major new entrants will commit toa Russian expansion.
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