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Synopsis
Timetric’s 'Non-Life Insurance in Russia Key Trends and Opportunities to 2020' report provides a detailed outlook by product category for the Russian non-life insurance segment, and a comparison of the Russian insurance industry with its regional counterparts.

It provides values for key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, total investment income and retentions during the review period (2011–2015) and forecast period (2015–2020).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Russian economy and demographics, explains the various types of natural hazard and their impact on the Russian insurance industry, and provides detailed information on the competitive landscape in the country.

The report brings together Timetric’s research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.

Summary
Timetric’s 'Non-Life Insurance in Russia, Key Trends and Opportunities to 2020' report provides in-depth market analysis, information and insights into the Russian non-life insurance segment, including:

- The Russian non-life segment’s detailed outlook by product category

- A comprehensive overview of the Russian economy and demographics

- A comparison of the Russian non-life insurance segment with its regional counterparts

- The various distribution channels in the Russian non-life insurance segment

- Detailed analysis of natural hazards and their impact on the Russian insurance industry

- Details of the competitive landscape in the non-life insurance segment in Russia

- Details of regulatory policy applicable to the Russian insurance industry

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

- It provides historical values for the Russian non-life insurance segment for the report’s 2011–2015 review period, and projected figures for the 2015–2020 forecast period.

- It offers a detailed analysis of the key categories in the Russian non-life insurance segment, and market forecasts to 2020.

- It provides a comparison of the Russian non-life insurance segment with its regional counterparts

- It analyzes the various distribution channels for non-life insurance products in Russia.

- It analyzes various natural and man-made hazards and their impact on the Russian insurance industry

- 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 in-depth historic and forecast market data related to the Russian non-life insurance segment, and each category within it.

- Understand the demand-side dynamics, key market trends and growth opportunities in the Russian non-life insurance segment.

- Assess the competitive dynamics in the non-life insurance segment.

- Identify growth opportunities and market dynamics in key product categories.

- Gain insights into key regulations governing the Russian insurance industry, and their impact on companies and the industry's future.

Key Highlights
- On October 19, 2016, the CBR amended the maximum tariff limits for carriers’ liability insurance.

- Russia’s geographical location as an Eastern European country and well developed transport infrastructure makes it a hub for trading activities in Europe.

- Motor insurance was the largest category in the segment during the review period, in terms of direct written premium.

- Russian non-life insurers are placing an increasing emphasis on telematics-based products.

- Property insurance was the second-largest category in the non-life segment, accounting for 28.6% of the segment’s gross written premium in 2015.

- New regulations on the solvency and financial stability of insurance companies came into force on July 01, 2015.

Table Of Contents

Non-Life Insurance in Russia, Key Trends and Opportunities to 2020
Table of Contents
1 Key Facts and Highlights
2 Executive Summary
3 Economy and Demographics
4 Segment Outlook
4.1 Regional Comparison
4.2 Segment Indicators
4.2.1 Gross written premium and penetration
4.2.2 Policies sold
4.2.3 Claims
4.2.4 Profitability
4.2.5 Assets and investments
5 Outlook by Category
5.1 Property Insurance
5.1.1 Product overview
5.1.2 Premium
5.1.3 Policies sold
5.1.4 Claims
5.2 Motor Insurance
5.2.1 Product overview
5.2.2 Premium
5.2.3 Policies sold
5.2.4 Claims
5.3 Liability Insurance
5.3.1 Product overview
5.3.2 Premium
5.3.3 Policies sold
5.3.4 Claims
5.4 Marine, Aviation and Transit Insurance
5.4.1 Product overview
5.4.2 Premium
5.4.3 Policies sold
5.4.4 Claims
6 Distribution Channel Outlook
6.1 Analysis by Distribution Channel
6.1.1 Agencies
6.1.2 Direct marketing
6.1.3 Bancassurance
6.1.4 Brokers
6.1.5 E-commerce
7 Natural and Man-made Hazards
7.1 Flooding
7.2 Wildfires
7.3 Extreme temperature
7.4 Earthquakes
7.5 Storm
7.6 Exposure
7.7 Man-Made Disasters
8 Competitive Landscape
8.1 Overview
8.2 Company Profiles
8.2.1 Rosgosstrakh Company Ltd - company overview
8.2.2 Sogaz Insurance Company - company overview
8.2.3 Ingosstrakh Insurance Company - company overview
8.2.4 Reso-Garantia - company overview
8.2.5 AlfaStrakhovanie - company overview
9 Governance, Risk and Compliance
9.1 Legislation Overview and Historical Evolution
9.2 Latest Changes in Regulation
9.3 Legislation and Market Practice by Type of Insurance
9.3.1 Life insurance
9.3.2 Property insurance
9.3.3 Motor insurance
9.3.4 Liability insurance
9.3.5 Marine, aviation and transit insurance
9.3.6 Personal accident and health insurance
9.4 Compulsory Insurance
9.4.1 Workmen's compensation insurance
9.4.2 Motor third-party liability insurance
9.4.3 Aviation liability insurance
9.4.4 Health insurance
9.4.5 Third-party liability insurance for hazardous activities
9.4.6 Clinical trials liability insurance
9.4.7 Liability for ships with respect to oil pollution
9.5 Supervision and Control
9.5.1 International Association of Insurance Supervisors
9.5.2 Financial Market Access Department of the Central Bank of Russia
9.5.3 All-Russian Insurance Association
9.6 Non-Admitted Insurance Regulation
9.6.1 Overview
9.6.2 Intermediaries
9.6.3 Market practices
9.6.4 Fines and Penalties
9.7 Company Registration and Operations
9.7.1 Type of insurance organization
9.7.2 Establishing a local company
9.7.3 Foreign ownership
9.7.4 Types of license
9.7.5 Capital requirements
9.7.6 Solvency margins
9.7.7 Reserve requirements
9.7.8 Investment regulations
9.7.9 Statutory return requirements
9.7.10 Fee structure
9.8 Taxation
9.8.1 Insurance premium or policy taxation
9.8.2 Withholding taxes on premium paid overseas
9.8.3 Corporate tax
9.8.4 VAT
9.8.5 Captives
9.9 Legal System
9.9.1 Introduction
9.9.2 Access to court
9.9.3 Alternative dispute resolution (ADR)
10 Databook
10.1 Policies and Premium
10.2 Claims and Expenses
10.3 Assets and Investments
10.4 Direct Marketing and E-Commerce
10.5 Insurance Brokers and Agencies
10.6 Bancassurance and Other Distribution Channels
10.7 Property Insurance
10.8 Property Insurance by Product
10.9 Motor Insurance
10.1 Motor Insurance by Product
10.11 Liability Insurance
10.12 Marine, Aviation and Transit Insurance
11 Definitions and Methodology
11.1 Definitions
11.2 Methodology
12 About Timetric
12.1 Contact Timetric
12.2 About Timetric
12.3 Timetric's Services
12.4 Disclaimer


List of Tables
Table 1: Russian Non-Life Insurance - Key Facts, 2015
Table 2: Russian Non-Life Insurance - Segment Shares of the Top Insurers, 2015
Table 3: Russian Government Credit Ratings
Table 4: Russian Non-Life Insurance - Gross Written Premium (RUB Billion and US$ Billion), 2011-2015
Table 5: Russian Non-Life Insurance - Penetration (%), 2011-2015
Table 6: Russian Non-Life Insurance - Gross Written Premium (RUB Billion and US$ Billion), 2015-2020
Table 7: Russian Non-Life Insurance - Penetration (%), 2015-2020
Table 8: Russian Non-Life Insurance - Premium per Capita (RUB and US$), 2011-2015
Table 9: Russian Non-Life Insurance - Premium per Capita (RUB and US$), 2015-2020
Table 10: Russian Non-Life Insurance - Number of Policies Sold (Million), 2011-2015
Table 11: Russian Non-Life Insurance - Number of Policies Sold (Million), 2015-2020
Table 12: Russian Non-Life Insurance - Paid Claims (RUB Billion and US$ Billion), 2011-2015
Table 13: Russian Non-Life Insurance - Paid Claims (RUB Billion and US$ Billion), 2015-2020
Table 14: Russian Non-Life Insurance - Profitability Ratio (%), 2011-2015
Table 15: Russian Non-Life Insurance - Profitability Ratio (%), 2015-2020
Table 16: Russian Non-Life Insurance - Total Assets (RUB Billion and US$ Billion), 2011-2015
Table 17: Russian Non-Life Insurance - Total Assets (RUB Billion and US$ Billion), 2015-2020
Table 18: Russian Non-Life Insurance - Direct Written Premium by Category (RUB Billion), 2011-2015
Table 19: Russian Non-Life Insurance - Direct Written Premium by Category (RUB Billion), 2015-2020
Table 20: Russian Property Insurance - Number of Recorded Crimes, 2011-2015
Table 21: Russian Property Insurance - Direct Written Premium by Sub-Category (RUB Billion), 2011-2015
Table 22: Russian Property Insurance - Direct Written Premium by Sub-Category (RUB Billion), 2015-2020
Table 23: Russian Property Insurance - Number of Policies Sold by Sub-Category (Million), 2011-2015
Table 24: Russian Property Insurance - Number of Policies Sold by Sub-Category (Million), 2015-2020
Table 25: Russian Property Insurance - Paid Claims (RUB Billion and US$ Billion), 2011-2015
Table 26: Russian Property Insurance - Paid Claims (RUB Billion and US$ Million), 2015-2020
Table 27: Russian Motor Insurance - New Vehicle Sales in Russia, 2013-2015
Table 28: Russia Motor Insurance - Road Accident Numbers, 2011-2015
Table 29: Russian Motor Insurance - Direct Written Premium by Sub-Category (RUB Billion), 2011-2015
Table 30: Russian Motor Insurance - Direct Written Premium by Sub-Category (RUB Billion), 2015-2020
Table 31: Russian Motor Insurance - Number of Policies Sold by Sub-Category (Million), 2011-2015
Table 32: Russian Motor Insurance - Number of Policies Sold by Sub-Category (Million), 2015-2020
Table 33: Russian Motor Insurance - Paid Claims (RUB Billion and US$ Billion), 2011-2015
Table 34: Russian Motor Insurance - Paid Claims (RUB Billion and US$ Billion), 2015-2020
Table 35: Russian Liability Insurance - Direct Written Premium by Sub-Category (RUB Billion), 2011-2015
Table 36: Russian Liability Insurance - Direct Written Premium by Sub-Category (RUB Billion), 2015-2020
Table 37: Russian Liability Insurance - Number of Policies Sold (Million), 2011-2015
Table 38: Russian Liability Insurance - Number of Policies Sold (Million), 2015-2020
Table 39: Russian Liability Insurance - Paid Claims (RUB Billion and US$ Million), 2011-2015
Table 40: Russian Liability Insurance - Paid Claims (RUB Billion and US$ Million), 2015-2020
Table 41: Russian Transport Network - Global Rankings
Table 42: Russian Marine, Aviation and Transit Insurance - Freight Carried (Million Ton), 2011-2015
Table 43: Russian Marine, Aviation and Transit Insurance - Direct Written Premium by Sub-Category (RUB Billion), 2011-2015
Table 44: Russian Marine, Aviation and Transit Insurance - Direct Written Premium by Sub-Category (RUB Billion), 2015-2020
Table 45: Russian Marine, Aviation and Transit Insurance - Number of Policies Sold (Thousand), 2011-2015
Table 46: Russian Marine, Aviation and Transit Insurance - Number of Policies Sold (Thousand), 2015-2020
Table 47: Russian Marine, Aviation and Transit Insurance - Paid Claims (RUB Billion and US$ Million), 2011-2015
Table 48: Russian Marine, Aviation and Transit Insurance - Paid Claims (RUB Billion and US$ Million), 2015-2020
Table 49: Russian Non-Life Insurance - Direct Written Premium by Distribution Channel (RUB Billion), 2011-2015
Table 50: Russian Non-Life Insurance - Direct Written Premium by Distribution Channel (RUB Billion), 2015-2020
Table 51: Russian Non-Life Insurance - Percentage of Direct Written Premium by Distribution Channel, 2011-2020
Table 52: Russian Non-Life Insurance - Segment Shares of Leading Insurers (%), 2015
Table 53: Rosgosstrakh Company Ltd - Key Facts
Table 54: Rosgosstrakh Company Ltd - Key Financials (RUB Million), 2011-2015
Table 55: Sogaz Insurance Company - Key Facts
Table 56: Sogaz Insurance Company - Key Financials (RUB Million), 2011-2015
Table 57: Ingosstrakh Insurance Company - Key Facts
Table 58: Ingosstrakh Insurance Company - Key Financials (RUB Million), 2011-2015
Table 59: Reso-Garantia - Key Facts
Table 60: Reso-Garantia - Key Financials (RUB Million), 2011-2015
Table 61: AlfaStrakhovanie - Key Facts
Table 62: AlfaStrakhovanie - Key Financials (RUB Million), 2011-2015
Table 63: Russia - Insurance Regulatory Framework Key Features
Table 64: Russia- Life Insurance Regulatory Framework
Table 65: Russia - Property Insurance Regulatory Framework
Table 66: Russia - Motor Insurance Regulatory Framework
Table 67: Russia - Bonus-Malus System
Table 68: Russia - Liability Insurance Regulatory Framework
Table 69: Russia - Compensation Provided by the Insurer under Motor Liability Insurance
Table 70: Russia - Compensation Provided by the Insurer in the Event of Accident by Domestic Air Carriage
Table 71: Russia - Corporate Tax Rates for the Financial Year 2016
Table 72: Russian Insurance Industry - Policies and Premium, 2011-2015
Table 73: Russian Insurance Industry - Policies and Premium, 2015-2020
Table 74: Russian Non-Life Insurance - Claims and Expenses, 2011-2015
Table 75: Russian Non-Life Insurance - Claims and Expenses, 2015-2020
Table 76: Non-Life Insurance - Assets, 2011-2015
Table 77: Russian Non-Life Insurance - Assets, 2015-2020
Table 78: Russian Non-Life Insurance - Direct Marketing and E-Commerce, 2011-2015
Table 79: Russian Non-Life Insurance - Direct Marketing and E-Commerce, 2015-2020
Table 80: Russian Non-Life Insurance - Insurance Brokers and Agencies, 2011-2015
Table 81: Russian Non-Life Insurance - Insurance Brokers and Agencies, 2015-2020
Table 82: Russian Non-Life Insurance Bancassurance and Other Distribution Channels, 2011-2015
Table 83: Russian Non-Life Insurance - Bancassurance and Other Distribution Channels, 2015-2020
Table 84: Russian Non-Life Insurance - Property Insurance, 2011-2015
Table 85: Russian Non-Life Insurance - Property Insurance, 2015-2020
Table 86: Russian Non-Life Insurance - Property Insurance by Product, 2011-2015
Table 87: Russian Non-Life Insurance - Property Insurance by Product, 2015-2020
Table 88: Russian Non-Life Insurance - Motor Insurance, 2011-2015
Table 89: Russian Non-Life Insurance - Motor Insurance, 2015-2020
Table 90: Russian Non-Life Insurance - Motor Insurance by Product, 2011-2015
Table 91: Russian Non-Life Insurance - Motor Insurance by Product, 2015-2020
Table 92: Russian Non-Life Insurance - Liability Insurance, 2011-2015
Table 93: Russian Non-Life Insurance - Liability Insurance, 2015-2020
Table 94: Russian Non-Life Insurance - Marine, Aviation and Transit Insurance, 2011-2015
Table 95: Russian Non-Life Insurance - Marine, Aviation and Transit Insurance, 2015-2020
Table 96: Insurance Industry Definitions


List of Figures
Figure 1: Russian Real GDP (RUB Trillion) and Annual Growth (%), 2011-2020
Figure 2: Russian Current Account Balance as a Percentage of GDP (%), 2011-2015
Figure 3: Russian Consumer Price Inflation, 2011-2020
Figure 4: RUB-US$ Exchange Rate, 2011-2020
Figure 5: Russian Unemployment Rate, 2011-2020
Figure 6: Russian Population by Age Group, 1990-2025
Figure 7: Russian Non-Life Insurance Penetration - Regional Comparison (%), 2015
Figure 8: Russian Insurance Segment Direct Written Premium Shares - Regional Comparison (%), 2015
Figure 9: Russian Non-Life Insurance - Gross Written Premium (RUB Billion), 2011-2020
Figure 10: Russian Non-Life Insurance - Penetration (%), 2011-2020
Figure 11: Russian Non-Life Insurance - Premium per Capita (RUB), 2011-2020
Figure 12: Russian Non-Life Insurance - Number of Policies Sold (Million), 2011-2020
Figure 13: Russian Non-Life Insurance - Paid Claims (RUB Billion), 2011-2020
Figure 14: Russian Non-Life Insurance - Profitability Ratio (%), 2011-2020
Figure 15: Russian Non-Life Insurance - Total Assets (RUB Billion), 2011-2020
Figure 16: Russian Non-Life Insurance - Direct Written Premium by Category (RUB Billion), 2011-2020
Figure 17: Russian Non-Life Insurance - Direct Written Premium Dynamics by Category, 2011-2020
Figure 18: Russian Property Insurance - Construction Value Output by Category (RUB Billion), 2011-2020
Figure 19: Russian Property Insurance - Direct Written Premium by Sub-Category (RUB Billion), 2011-2020
Figure 20: Russian Property Insurance - Direct Written Premium Dynamics by Sub-Category, 2011-2020
Figure 21: Russian Property Insurance - Number of Policies Sold by Sub-Category (Million), 2011-2020
Figure 22: Russian Property Insurance - Paid Claims (RUB Billion), 2011-2020
Figure 23: Russia Motor Insurance - Fatal Accidents, 2015
Figure 24: Russian Motor Insurance - Direct Written Premium by Sub-Category (RUB Billion), 2011-2020
Figure 25: Russian Motor Insurance - Direct Written Premium Dynamics by Sub-Category, 2011-2020
Figure 26: Russian Motor Insurance - Number of Policies Sold by Sub-Category (Million), 2011-2020
Figure 27: Russian Motor Insurance - Paid Claims (RUB Billion), 2011-2020
Figure 28: Russian Liability Insurance - Direct Written Premium (RUB Billion), 2011-2020
Figure 29: Russian Liability Insurance - Number of Policies Sold (Thousand), 2011-2020
Figure 30: Russian Liability Insurance - Paid Claims (RUB Billion), 2011-2020
Figure 31: Russian Exports and Imports (RUB Trillion), 2011-2015
Figure 32: Russian Aviation Insurance - Passengers Carried by Air Transport (Million), 2011-2015
Figure 33: Russian Marine, Aviation and Transit Insurance - Direct Written Premium (RUB Billion), 2011-2020
Figure 34: Russian Marine, Aviation and Transit Insurance - Number of Policies Sold (Thousand), 2011-2020
Figure 35: Russian Marine, Aviation and Transit Insurance - Paid Claims (RUB Billion), 2011-2020
Figure 36: Russian Non-Life Insurance - Direct Written Premium by Distribution Channel (%), 2011, 2015 and 2020
Figure 37: Russian - Frequency of Hazards by Type, 1990-2014
Figure 38: Russian Mortality by Hazards Type, 1990-2014
Figure 39: Russian Economic Loss by Hazards Type, 1990-2014
Figure 40: Russian Non-Life Insurance - Segment Shares of Leading Insurers (%), 2015
Figure 41: Russia - Insurance Supervision and Control at Various Levels
Figure 42: Russia - Insurance Regulatory Framework for Company Registration and Operation

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