Russian Insurance Industry Forecast to 2010

Publication Date	May 2008
Publisher	RNCOS
Product Type	Report
Pages	70
ISBN Number	not applicable
Product Code	RCS00422

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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 by RNCOS, "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 Analyzed

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 Used

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.

Content

1. Analyst View
2. Russia Insurance Market - An Overview
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
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 Bancassurance
- 4.4 By Reinsurance
  - 4.4.1 Overview
  - 4.4.2 Performance
5. Growth Prospects
- 5.1 Motor Hull Insurance
- 5.2 Household Insurance
- 5.3 Pension Market
- 5.4 CAR & EAR Insurance
6. Growth Blockers
- 6.1 Public Distrust
- 6.2 Population
- 6.3 Information Technology
- 6.4 Qualified Professionals
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
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
List of 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$), 2006 & 2010F
- Figure 6-1: Russia - Population (in Million), 2003-2007E
- Figure 6-2: Russia - Forecast for Population (in Million), 2008-2012
- Figure 8-1: Rosgosstrakh - Insurance* Premium by Segment (%), 2006
- Figure 8-2: Ingosstrakh - Insurance Premium by Segment (%), 2006
- Figure 8-3: Sogaz - Insurance* Premium by Segment (%), 2006
- Figure 8-4: Reso-Garantia - Insurance Premium by Segment (%), 2005
- Figure 8-5: Rosno - Insurance* Premium by Segment (%), 2006
- Figure 8-6: Soglasie - Insurance Premium by Segment (%), 2006
- Figure 8-7: Alfastrakhovanie - Insurance Premium by Segment (%), 2005
List of Tables:
- Table 4-1: Russia - Marine Insurance Premiums Written & Sum Insured (in Million US$), 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