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Russia Insurance Report Q1 2017

  • November 2016
  • -
  • Business Monitor International
  • -
  • 49 pages

Includes 3 FREE quarterly updates

BMI View:
Russia's insurance industry remains under-developed for a country of its size and economic weight, with certain segments of the market, including the life insurance sector, negligible relative to GDP. Political and economic headwinds have restricted insurers from expanding their business over recent quarters and a deteriorating business climate has also deterred new entrants and investors from overseas. While the economy is set to see gradual improvement from 2017, the recovery will be tentative across most insurance lines, with only the compulsory health and motor insurance sub-sectors enjoying substantial increase in premiums over the next few years. For now, we believe the continued risks and constraints to business growth outweigh the opportunities surrounding Russia's insurance market.

Key Updates and Forecasts


- Despite an improving macroeconomic backdrop, Russia's investment climate remains relatively unappealing to foreign insurance companies. Legislation passed in June 2016 has led to the creation of state-owned reinsurer National Reinsurance Company (NRC) and highlights the continued uncertainty towards the market on the part of foreign underwriters.

Table Of Contents

Russia Insurance Report Q1 2017
BMI Industry View 5
Table: Headline Insurance Forecasts (Russia 2013-2020) 5
SWOT 7
Insurance 7
Industry Forecast 9
Life Premiums Forecast 9
Table: Life Premiums (Russia 2013-2020) 12
Table: Life Insurance Claims (Russia 2008-2014) 12
Non-Life Premiums Forecast 13
Table: Non-Life Premiums (Russia 2013-2020) 16
Table: Non-Life Insurance Claims (Russia 2009-2014) 18
Non-Life Sub-Sector Forecast 18
Table: Non-Life Insurance Premiums by Product Line (Russia 2013-2020) 26
Insurance Risk/Reward Index 28
Emerging Europe Insurance Risk/Reward Index 28
Table: Emerging Europe Insurance Risk/Reward Index - Q117 29
Market Overview 30
Life Market Overview 30
Product Offering 30
Competitive Landscape 30
Table: Russia Life Insurance Market (USDmn) 2010-2014 32
Non-Life Market Overview 33
Product Offering 33
Competitive Landscape 34
Table: Russia Non-Life Insurance Market (USDmn) 2011-2014 36
Company Profile 38
MetLife 38
Rosgosstrakh (RGS) 40
Methodology 43
Industry Forecast Methodology 43
Sector-Specific Methodology 44
Risk/Reward Index Methodology 46
Table: Indicators 48
Table: Weighting of Indicators 49

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