Russia Insurance Report Q1 2016

Date: December 9, 2015
Pages: 52
US$ 1,295.00
Report type: Strategic Report
Delivery: Download
ID: RF6057FE710EN

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Includes 3 FREE quarterly updates

BMI View: In the short term, Russia's insurance industry faces significant challenges from the weak domestic economy and currency movements, which means we expect to see sharp double-digit contractions in both life and non-life gross premiums written in 2015. While we do expect to see a return to growth in 2016, this is predicated upon a return to more positive economic territory - any further escalation in regional tensions or more extensive sanctions could derail this growth potential. Underneath these challenges, Russia's long-term growth potential is substantial, and should investment conditions improve we expect to see the interest of major multinationals return.

Key Updates and Forecasts
  • Life insurance in Russia remains heavily underdeveloped, accounting for less than 5% of gross premiums written. In 2015, life premiums are expected to contract by 26.1%. Despite a return to growth from 2016, premiums in 2019 will be broadly in line with those of 2015, at around USD1.7bn.
  • The much larger non-life insurance sector will see slightly stronger growth over the medium term, and following a short-term decline will see premiums grow to USD43.5bn in 2019, up from USD33.5bn in 2015.
BMI Industry View
  Table: Headline Insurance Forecasts (Russia 2012-2019)
Industry Forecast
Life Premiums Forecast
  Table: Life Premiums (Russia 2012-2019)
  Table: Life Insurance Claims (Russia 2007-2013)
Non-Life Premiums Forecast
  Table: Non-Life Premiums (Russia 2012-2019)
  Table: Non-Life Insurance Claims (Russia 2008-2013)
Non-Life Sub-Sector Forecast
  Table: Non Life Insurance Premiums By Product Line (Russia 2012-2019)
Insurance Risk/Reward Index
Emerging Europe Risk/Reward Index
  Table: Emerging Europe Insurance Risk/Reward Index
Market Overview
Life Market Overview
The Product Offering
The Competitive Landscape
  Table: Russia Life Insurance Market (USDmn) 2009-2013
Non-Life Market Overview
The Product Offering
The Competitive Landscape
  Table: Russia Non-Life Insurance Market (USDmn) 2011-2013
Company Profile
Rosgosstrakh (RGS)
Industry Forecast Methodology
Risk/Reward Index Methodology
  Table: Indicators
  Table: Weighting of Indicators
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