Abstract
RNCOS' report, “Booming Russian Insurance Sector (2007-2010)”,
provides extensive research and objective analysis of the growing insurance
industry, its product quality, and services in Russia. This report helps
clients to analyze the leading-edge opportunities critical to the success of
the insurance Industry in Russia. Detailed data and analysis helps investors,
financial service providers, and global banking players to navigate through
the evolving insurance market in Russia.
Key Findings
- In 1H 2006, volume of CMTPL premium amounted to Ruble 29.4 Billion (US$
1.14 Billion), increasing by 14.8% (against 9.2% in 1H 2005).
- Mergers and Acquisitions will be the future place of growth.
- Insurance fraud is on rise in Russia. Percentage of insurance fraud in the
country reached to 30-35% during 2005 - higher than 10-15% in other countries.
Key Issues and Facts Analyzed
- The research report also addresses the issues and facts that are critical
to the success of insurance business in Russia:
What are the marketing strategies of the players in the insurance industry?
How is the growth in health and accidental insurance driving the insurance
sector in Russia? What are the opportunities and challenges for the players in
Russian insurance market? What will be the prospective areas of investments in
the insurance industry in the near future? Which factors will lead to the
growth of Life and Non-life insurance in Russia?
Key Products Analyzed
Key products like Life and Non-life insurance have been analyzed, supported by
facts like revenue and market trends.
Key Players
This section provides an overview of some of the key players in this industry
like Ingosstrakh, RESO-Garantia and Rosgosstrakh.
Research Methodology Used
Information Sources
Information has been sourced from namely, Books, Newspapers, trade journals,
and white papers, industry portals, government agencies, trade associations,
monitoring industry news and developments, and through access to access to
more than 3000 paid databases.
Analysis Methods
The analysis methods include the following: Ratio Analysis, Historical Trend
Analysis, Linear Regression Analysis using software tools, Judgmental
Forecasting and Cause and Effect Analysis.
Table of Contents
1. Analyst View
2. Research Overview
3. Global Insurance Industry
- 3.1 Top Insurance Companies
- 3.2 Reinsurance Market
4. Global Insurance Premium
- 4.1 Insurance Premium - By Country
- 4.2 Russia Life Insurance Market in European Context
- 4.3 Russia Non-Life Insurance Premium in Global Context
5. Russia Insurance - An Overview
- 5.1 Capital of Insurance Market
- 5.1.1 Share of Foreign Capital
- 5.2 Number of Insurance Companies
- 5.3 Segments of Insurance
- 5.3.1 Voluntary Insurance
- 5.3.2 Compulsory Insurance
- 5.4 Life Insurance Market
- 5.4.1 Market Structure
- 5.4.1.1 Insurance Premium
- 5.4.1.1.1 Premium Distribution
- 5.5 Non-Life Insurance Market
- 5.5.1 Personal Insurance
- 5.5.2 Property Insurance
- 5.5.3 Liability Insurance
- 5.5.4 Compulsory Motor Third Party Liability (CMTPL)
- 5.5.5 Compulsory Medical Insurance (CMI)
6. Ranking of Insurance Companies
- 6.1 By Turnover
- 6.2 By Real Life Insurance Premium
- 6.3 By Property Insurance Premium
- 6.4 By Assets
- 6.5 By Premium - Non-Life Insurers
7. Industry Analysis
- 7.1 Driving Forces
- 7.1.1 Growing Automobile Industry Filliping the CMTPL
- 7.1.2 Rising Road Accidents
- 7.1.3 Foreign Direct Investment (FDI)
- 7.1.4 Population Growth
- 7.1.5 Urbanization of the Population
- 7.2 Opportunities
- 7.2.1 More Scope for Newer Products
- 7.2.2 Mergers & Acquisitions is an Opportunity for the Big Russian
Players
- 7.2.3 Opportunity for Foreign Insurers, particularly in Life Insurance
- 7.2.4 Tie-ups with Banks - Churning Out Profits for Insurers
- 7.3 Challenges
- 7.3.1 Health Insurance
- 7.3.2 Insurance Fraud
- 7.3.3 Insurance Regulation
- 7.3.4 Tax Incentive for Health Insurance
- 7.3.5 Poverty
8. Future Outlook (2007-2010)
- 8.1 Life Insurance Market Forecast (2007-2010)
- 8.2 Non-Life Insurance Market Forecast (2007-2009)
9. Key Players
- 9.1 Ingosstrakh
- 9.2 RESO-Garantia
- 9.3 Rosgosstrakh
10. Reinsurance
List of Figures:
- Figure 3-1: Global - Share of Non-Life & Life Insurance Premiums (%), 2005
- Figure 4-1: Russia - Non-Life Insurance Premium (%) 2005
- Figure 5-1: Russia - Capital of Insurance Market (in Million Ruble),
2001-2005
- Figure 5-2: Russia - Share of Foreign Capital (%), 2003 & 2004
- Figure 5-3: Russia - Number of Insurance Companies (2000-2005)
- Figure 5-4: Russia - Voluntary Insurance Premium Distribution by Segment
(%), 1H 2006
- Figure 5-5: Russia - Compulsory Insurance Premium Distribution by Segment
(%), 1H 2006
- Figure 5-6: Russia - Life Insurance Market Structure (in Million US$),
2004 & 2005
- Figure 5-7: Russia - Life Insurance Premium Collected & Claims Paid (in
Billion Ruble), 2Q 2004 to 2Q 2006
- Figure 5-8: Russia - Life Insurance Premium Distribution by Segment (in
Billion Ruble), 1H 2006
- Figure 5-9: Russia - Personal Insurance Premium Collected & Claims Paid
(in Billion Ruble), 2004, 2005 & 1H 2006
- Figure 5-10: Russia - Property Insurance Premium Collected & Claims Paid
(in Billion Ruble), 2Q 2004 to 2Q 2006
- Figure 5-11: Russia - Liability Insurance Premium Collected & Claims Paid
(in Billion Ruble), 2Q 2004 to 2Q 2006
- Figure 5-12: Russia - CMTPL Insurance Premium Collected & Claims Paid (in
Billion Ruble), 2Q 2004 to 2Q 2006
- Figure 6-1: Russia - Top Insurance Companies by Turnover* (in Million
US$), 2005
- Figure 7-1: Russia - Number of People Killed & Injured in Road Accidents
(in Thousand), 2000-2005
- Figure 7-2: Russia - Share of Types of Insurance Frauds (%), 2005
- Figure 8-1: Russia - Forecast for Life Insurance Market (in Million US$),
2007-2010
- Figure 8-2: Russia - Forecast for Non-Life Insurance Market (in Million
US$), 2007-2009
- Figure 10-1: Russia - Incoming Reinsurance Premium by Segment (%), 1H 2006
List of Tables:
- Table 3-1: Global - Life & Non-Life Insurance Premiums (in Million US$),
1996-2005
- Table 3-2: Global - Top Insurance Players by Revenue (in Million US$), 2006
- Table 3-3: Global - Top Property/Casualty Insurance Companies by Revenue
(in Million US$), 2006
- Table 3-4: Global - Top Life/Health Insurance Companies by Revenue (in
Million US$), 2006
- Table 3-5: Global - Top Reinsurers by Net Reinsurance Premiums Written (in
Million US$), 2006
- Table 3-6: Global - Top Insurance Brokers by Revenue (in Million US$), 2006
- Table 4-1: Global - Development in the Major Insurance Markets (in Million
US$), 2004 & 2005
- Table 4-2: Global - Insurance Premium (in Million US$), 2004 & 2005
- Table 4-3: Europe - Life Insurance Market Segmentation by Region (%), 2005
- Table 6-1: Russia - Top Insurance Companies by Real Life Insurance Premium
(in Billion Ruble), 1H 2005 & 1H 2006
- Table 6-2: Russia - Top Insurance Companies by Property Insurance Premium
(in Billion Ruble), 1H 2005 & 1H 2006
- Table 6-3: Russia - Top Insurance Companies by Assets (in Million Ruble),
Sep-05
- Table 6-4: Russia - Top Non-Life Insurance Companies by Premium (in
Million US$), 2006
- Table 7-1: Russia - Number of Motor Vehicles (in Million) & Growth (%),
2000-2005
- Table 7-2: Russia - Break-up of Population (%), 2001-2006
- Table 7-3: Russia - Forecast for Break-up of Population (%), 2007-2011
- Table 7-4: Russia - Mergers & Acquisitions in the Insurance Industry
(Feb-06 to May-07)
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