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 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.
