Report Summary
Russian insurance market is one of the fastest growing markets in the world. It has expanded rapidly over the past few years, and on the back of regulatory developments, government support, economic growth and rising income level, the market will continue to grow at fast pace in e coming years, according to a recent research report b, "Russian Insurance Industry Forecast to 2010", that provides a detailed analysis on the Russian insurance sector.
Exploring the market development and potential, the report offers a broad overview of the Russian insurance industry. The forecasts and estimations given in this report are not based on a complex economic model, but are intended as a rough guide to the direction in which the market is likely to move.
Key Findings
- Russia is the dominant insurance market among the CIS member countries and accounted for over 85% of the total premium written by all CIS members in 2006.
- After significant declines, Russian life insurance market is anticipated to accelerate at a CAGR of 4.6% during 2008-2011.
- Non-life insurance is forecasted to grow at a CAGR of 16% during 2008-2011.
- Property, Aviation, Motor Hull and Construction Risk insurance are some of the fastest growing products of the Russian insurance market.
Key Issues & Facts
- What are the key factors fueling growth in the Russian insurance market?
- Which are the fastest growing products?
- What is the consumer behavior?
- How the market is likely to move in future?
- What are the various opportunity areas?
- What are the key challenges for the market?
Key Players
This section provides business overview and financial status of key players in the Russian insurance market, like Rosgosstrakh, Ingosstrakh, Reso-Garantia, Soglasie, AIG, Ergo, etc.
Research Methodology
Information Sources
Information has been sourced from books, newspapers, trade journals, and white papers, industry portals, government agencies, trade associations, monitoring industry news and developments, and through access to over 3000 paid databases.
Analysis Methods
The analysis methods include ratio analysis, historical trend analysis, linear regression analysis using software tools, judgmental forecasting, and cause and effect analysis.
Table of Contents
Chapter 1 Analyst View
Chapter 2 Russia Insurance Market - An Overview
Chapter 3 Russia - A Lucrative Insurance Market
3.1 Living Standard
3.2 Natural Catastrophes
3.3 Market Penetration
3.4 Market Consolidation
3.5 Economic Growth
3.6 Government Initiatives
Chapter 4 Market Performance
4.1 By Product
4.1.1 Life
4.1.2 Non-life
4.1.2.1 Motor
4.1.2.2 Medical
4.1.2.3 Property
4.1.2.4 CAR & EAR
4.1.2.5 Aviation & Space
4.1.2.6 Marine
4.1.2.7 Cargo
4.1.2.8 Energy
4.1.2.9 Liability
4.2 By Insurance Class
4.2.1 Compulsory
4.2.2 Voluntary
4.3 By Distribution Network
4.3.1 Tied Agents
4.3.2 Brokers
4.3.3 Banc assurance
4.4 By Reinsurance
4.4.1 Overview
4.4.2 Performance
Chapter 5 Growth Prospects
5.1 Motor Hull Insurance
5.2 Household Insurance
5.3 Pension Market
5.4 CAR & EAR Insurance
Chapter 6 Growth Blockers
6.1 Public Distrust
6.2 Population
6.3 Information Technology
6.4 Qualified Professionals
Chapter 7 Regulatory Developments
7.1 Business Lines Separation
7.2 Separate License for Reinsurance
7.3 Capitalization
7.4 Reserve Requirement
7.5 Asset Allocation
Chapter 8 Key Players Analysis
8.1 Rosgosstrakh
8.2 Ingosstrakh
8.3 Sogaz
8.4 Reso-Garantia
8.5 Rosno
8.6 Soglasie
8.7 Alfastrakhovanie
8.8 AIG
8.9 Allianz
8.10 Ergo
Figures
Figure 2-1: Russia - Insurance Premium (in Billion US$), 2003-2006
Figure 2-2: CIS - Insurance Premium by Country (%), 2006
Figure 3-1: Russia - Per Head Disposable Income (in US$), 2002-2007E
Figure 3-2: Russia - Forecast for Per Head Disposable Income (in US$), 2008-2012
Figure 3-3: Russia - Per Capita Premium (in US$), 2002-2006
Figure 3-4: Russia - Natural Catastrophes by Region (%), 2005
Figure 3-5: BRIC - Insurance Premium Spending (in % of GDP), 2006
Figure 3-6: Russia - Number of Insurance Companies (2002, 2006 & 2007E)
Figure 3-7: Russia - Forecast for Number of Insurance Companies (2008-2010)
Figure 3-8: Russia - GDP per Head (in US$), 2002-2007E
Figure 3-9: Russia - Forecast for GDP per Head (in US$), 2008-2012
Figure 4-1: Russia - Share of Life & Non-life Insurance by Premium (%), 2006
Figure 4-2: Russia - Life Insurance Premium (in Million US$), 2003-2006
Figure 4-3: Russia - Forecast for Life Insurance Premium (in Million US$), 2008-2011
Figure 4-4: Europe* - Life Insurance Market by Country (%), 2006
Figure 4-5: Russia - Life Insurance Premium by Segment (%), Q1 2006
Figure 4-6: Russia - Life Insurance Premiums & Claims Paid (in Billion Ruble), Q2 2004 to Q2 2006
Figure 4-7: Europe* - Non-life Insurance Market by Country (%), 2005
Figure 4-8: Russia - Non-life Insurance Premium (in Million US$), 2003-2006
Figure 4-9: Russia - Forecast for Non-life Insurance Premium (in Million US$), 2008-2011
Figure 4-10: Russia - Passenger Car* Sales (in ‘000 Units), 2004-2006
Figure 4-11: Russia - Top Ten Companies by Motor Insurance Premium (in Million US$), 2006
Figure 4-12: Russia - CMTPL Insurance Premium (in Billion US$), 2005-2007E
Figure 4-13: Russia - CMTPL Insurance Premiums & Claims Paid (in Billion Ruble), Q2 2004 to Q2 2006
Figure 4-14: Russia - Compulsory Medical Insurance Premium (in Billion Ruble), H1 2005 & H1 2006
Figure 4-15: Russia - Top Ten Companies by Medical Insurance Premium (in Million US$), 2006
Figure 4-16: Russia - Top Ten Companies in Medical Insurance by Claims Paid (in Million US$), 2006
Figure 4-17: Russia - Property Insurance Penetration (%), 2006
Figure 4-18: Russia - Top Ten Companies by Property Insurance Premium (in Million US$), 2006
Figure 4-19: Russia - Property Insurance Premium & Claims Paid (in Billion Ruble), Q2 2004 to Q2 2006
Figure 4-20: Russia - Top Ten Companies by CAR & EAR Insurance Premium (in Million US$), 2006
Figure 4-21: Russia - Aviation Insurance Premium (in Million US$), 2006 & 2007E
Figure 4-22: Russia - Top Ten Companies by Aviation Insurance Premium (in Million US$), 2006
Figure 4-23: Russia - Forecast for Aviation Insurance Premium (in Million US$), 2008-2010
Figure 4-24: Russia - Cargo Insurance Premium (in Million US$), 2005-2007E
Figure 4-25: Russia - Top Ten Companies by Cargo Insurance Premium (in Million US$), 2006
Figure 4-26: Russia - Forecast for Cargo Insurance Premium (in Million US$), 2008-2011
Figure 4-27: Russia - Top Ten Companies by Hazardous Objects Liability Insurance Premium (in Million US$), 2006
Figure 4-28: Russia - Liability Insurance Premium (in Billion Ruble), Q2 2004 to Q2 2006
Figure 4-29: Russia - Liability Insurance Claims Paid (in Billion Ruble), Q2 2004 to Q2 2006
Figure 4-30: Russia - Top Ten Companies by Liability Insurance Premium (in Million US$), 2006
Figure 4-31: Russia - Voluntary & Compulsory Insurance Premium (in Billion US$), 2005 & 2006
Figure 4-32: Russia - Compulsory Insurance Premium by Segment (%), 2006
Figure 4-33: Russia - Voluntary Insurance Premium by Segment (%), 2006
Figure 4-34: Russia - Reinsurance Premium by Segment (%), 2006
Figure 4-35: Russia - Reinsurance Premium (in Billion US$), 2001-2006E
Figure 4-36: Russia - Reinsurance Claims Paid (in Billion US$), 2001-2006E
Figure 4-37: Russia - Forecast for Reinsurance Premium (in Billion US$), 2008-2010
Figure 5-1: Russia - Forecast for Passenger Car* Sales (in ‘000 Units), 2008-2010
Figure 5-2: Russia - CAR & EAR Insurance Premium* (in Million US$), 2006 & 2010F
Figure 6-1: Russia - Population (in Million), 2003-2007E
Figure 6-2: Russia - Forecast for Population (in Million), 2008-2012
Figure 8-1: Rosgosstrakh - Insurance* Premium by Segment (%), 2006
Figure 8-2: Ingosstrakh - Insurance Premium by Segment (%), 2006
Figure 8-3: Sogaz - Insurance* Premium by Segment (%), 2006
Figure 8-4: Reso-Garantia - Insurance Premium by Segment (%), 2005
Figure 8-5: Rosno - Insurance* Premium by Segment (%), 2006
Figure 8-6: Soglasie - Insurance Premium by Segment (%), 2006
Figure 8-7: Alfastrakhovanie - Insurance Premium by Segment (%), 2005
Tables:
Table 4-1: Russia - Marine Insurance Premiums Written & Sum Insured (in Million US$), 2005
Table 5-1: Russia - Breakup of Ageing Population by Age Group (in Million), 2001-2007E
Table 5-2: Russia - Forecast for Breakup of Ageing Population by Age Group (in Million), 2008-2012
