2018 Russia Life Insurance Market Trends, Size, Share, Growth and Opportunities

Life Insurance in Russia, Key Trends and Opportunities to 2018 Synopsis The report provides in-depth market analysis, information and insights into the Russian life insurance segment, including: The Russian life insurance segment’s growth prospects by life insurance categories Key trends and drivers for the life insurance segment The various distribution channels in the Russian life insurance segment The detailed competitive landscape in the life insurance segment in Russia Detailed regulatory policies of the Russian insurance industry A description of the life reinsurance segment in Russia Porter's Five Forces analysis of the life insurance segment A benchmarking section on the Russian life insurance segment in comparison with other countries in the BRICS region Executive summary Russia has the world’s 19th-largest insurance industry in terms of gross written premium. The life segment grew significantly following the global financial crisis of 2008–2009. The primary reasons were an increase in public awareness with regards to life insurance products, increase in employment, and the government’s implementation of several laws to develop the insurance industry. Russia’s life insurance segment is underdeveloped when compared to Brazil, Russia, India and China (the BRIC countries). In gross written premium terms, the life segment accounted for 4.1% of the total gross written premium of Russian insurance industry in 2013. The main reasons for the segment’s relatively low share are the country’s lack of tax benefits for life insurance products and its underdeveloped private pension system. Most life insurance policies sold are bought as a mandatory requirement for people taking out a bank loan. Scope This report provides a comprehensive analysis of the life insurance segment in Russia: It provides historical values for the Russian life insurance segment for the report’s 2009–2013 review period and forecast figures...