Research on Non-Life Insurance in Russia Market Trends, Share, Growth and Opportunities to 2018

Non-Life Insurance in Russia, Key Trends and Opportunities to 2018 Synopsis The report provides in-depth market analysis, information and insights into the Russian non-life insurance segment, including: The Russian non-life insurance segment’s growth prospects by non-life insurance categories Key trends and drivers for the non-life insurance segment The various distribution channels in the Russian non-life insurance segment The detailed competitive landscape in the non-life insurance segment in Russia Detailed regulatory policies of the Russian insurance industry A description of the non-life reinsurance segment in Russia Porter's Five Forces analysis of the non-life insurance segment A benchmarking section on the Russian non-life insurance segment in comparison with other countries in the BRICS region Executive summary Russia has the second largest non-life insurance segment, after China, in the BRIC countries (Brazil, Russia, India and China) in terms of gross written premium. However, the segment is relatively underpenetrated; non-life insurance penetration in Russia was just 0.88% in 2013, while it was 3.10% in the UK, 2.05% in Germany and 1.17% in Brazil. This indicates positive growth potential, especially in categories such as motor hull and residential insurance. Following regulatory changes, the segment underwent a period of consolidation as larger insurers acquired smaller ones, while some exited the segment altogether. Over the forecast period (2013−2018), the growth of the non-life segment will be driven by Russia’s growing automobile and construction sectors, the introduction of new mandatory insurance classes, and an increase in foreign direct investment (FDI) limits. The gross written premium of the non-life segment rose at a review-period (2009−2013) compound annual growth rate (CAGR) of 11.0%. The value is projected to increase at a projected forecast-period CAGR of 19.7%. This growth will be mainly driven by strong economic...