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.
- 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.
This section provides an overview of some of the key players in this industry like Ingosstrakh, RESO-Garantia and Rosgosstrakh.
Research Methodology Used
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.
The analysis methods include the following: Ratio Analysis, Historical Trend Analysis, Linear Regression Analysis using software tools, Judgmental Forecasting and Cause and Effect Analysis.