Russia Insurance Industry Growing by Leaps and Bounds

According to our latest report “Russian Insurance Industry Forecast to 2014”, Russian insurance market is fairly underdeveloped and fragmented, however it possesses significant growth potential. The Russian insurance market has become one of the world’s largest insurance markets in terms of gross written premium. However, there was limited demand for insurance products during the global economic crisis, but the market is coming back on its track as real income of the people has started to recover. It is anticipated that the country’s insurance premium will grow at a CAGR of around 12.3% during 2011-2014.

The main reasons for the growth of the industry are rapidly rising population in the country and growing demand for compulsory insurance products (primarily, compulsory motor TPL insurance and compulsory medical insurance). Along with this trend, various other strong fundamental drivers discussed and analyzed in the report will enable this sector to sustain its upward growth trend in the coming years.

Additionally, our report analyzes various segments of the insurance market and gives detail information of them, such as life-insurance, non-life insurance including personal insurance, property insurance, compulsory health insurance, MTPL, liability insurance & so on, premiums collected, premiums paid, voluntary insurance, compulsory insurance, distribution network, bancassurance, and reinsurance. We anticipate that non-life insurance segments will grow significantly in the coming years on the back of promotional strategies deployed by the government.

Our report “Russian Insurance Industry Forecast to 2014", contains comprehensive information, statistical data, and rational analysis of the insurance industry in Russia. The report also identifies the key industry players, their respective market share, and business strategies, which can prove beneficial for new entrants. Additionally, the report talks about the regulatory environment and recent regulatory developments in the insurance market. The report further assesses the emerging opportunity areas as well as growth constraints, which need to be addressed. Therefore, the report is a complete guide to investors (new entrants as well as existing players wishing to expand) in Russia’s insurance market.

For more information visit: http://rncos.com/Report/IM304.htm