Russia Life Insurance Sector Canvassed by Timetric in New Market Research Report Now Available at MarketPublishers.com02 Oct 2015 • by Natalie Aster
LONDON – Russia’s life insurance sector accounted for more than 4% of the insurance industry’s total gross written premiums (GWP) as of 2014; it is rather underdeveloped when compared to the BRIC nations. The Russian life insurance sector posted the highest 48% CAGR during 2010–2014, however, the growth declined in 2014. Through to 2019, the segment is likely to be influenced by economic meltdown in the country, driven by the crisis in Ukraine. The individual whole life category accounted for just under 64% of the life insurance GWP in 2014. The national insurance industry underwent a range of regulatory changes over the review period such as the foreign direct investment (FDI) FDI cap in insurance was raised from 25% to 49%. Bancassurance was the dominant distribution channel in the life sector, capturing over 73% of the sector’s total commissions as of 2014.
Russia’s life insurance sector is concentrated, with the 10 leading insurers grabbing more than 88% of the total GWP in 2014. Sberbank Life Insurance, Rosgosstrakh-Life, Renaissance Life, Alfa Strakhovanie Life, CiV Life, Raiffeisen Life, MetLife, Société Générale Life Insurance, among others, are the leading players in the market.
New report “Life Insurance in Russia, Key Trends and Opportunities to 2019” prepared by Timetric provides an all-round, unbiased analysis of Russia’s life insurance sector. The study offers historical and forecast market data pertaining to the sector and each of its categories; reviews the demand-side dynamics, major market trends and growth opportunities in the domestic life insurance segment; presents an in-depth assessment of the competitive landscape in the life insurance industry; identifies and examines key growth opportunities and market dynamics in leading product categories; sheds light on key regulations governing the country’s insurance industry, their influence on the companies and the industry's future development.
Life Insurance in Russia, Key Trends and Opportunities to 2019
Published: September, 2015
Price: US$ 1,950.00
More studies by the publisher can be found at Timetric page.