New Market Research Report: Non-Life Insurance in Russia, Key Trends and Opportunities to 2018

Russia has the second largest non-life insurance segment, after China, in the BRIC countries (Brazil, Russia, India and China) in terms of gross written premium. However, the segment is relatively underpenetrated; non-life insurance penetration in Russia was just 0.88% in 2013, while it was 3.10% in the UK, 2.05% in Germany and 1.17% in Brazil. This indicates positive growth potential, especially in categories such as motor hull and residential insurance. Following regulatory changes, the segment underwent a period of consolidation as larger insurers acquired smaller ones, while some exited the segment altogether. Over the forecast period (2013-2018), the growth of the non-life segment will be driven by Russia's growing automobile and construction sectors, the introduction of new mandatory insurance classes, and an increase in foreign direct investment (FDI) limits. The gross written premium of the non-life segment rose at a review-period (2009-2013) compound annual growth rate (CAGR) of 11.0%. The value is projected to increase at a projected forecast-period CAGR of 19.7%. This growth will be mainly driven by strong economic conditions, the introduction of mandatory non-life insurance, and an increase in the FDI cap from 25% to 50%.

Full Report Details at
- http://www.fastmr.com/prod/880116_nonlife_insurance_in_russia_key_trends_and.aspx?afid=301

Report Highlights

* Russia has the second largest non-life insurance segment, after China, in the BRIC countries (Brazil, Russia, India and China) in terms of gross written premium.
* Motor insurance was the largest category in the segment, representing a 59.1% share in 2013.
* The top 10 Russian non-life insurers contributed 65.9% of the total gross written premium in 2013.
* Regulatory reforms affected the Russian non-life segment during the review period. In 2012, the minimum paid-up capital for non-life insurers rose from RUB30 million (US$1.0 million) to RUB120 million (US$3.9 million).
* A new agricultural insurance law was also introduced to cover damages incurred due to abnormal weather conditions. The agricultural insurance category represented 2.5% of the segment's gross written premium in 2013.

Report Scope

This report provides a comprehensive analysis of the non-life insurance segment in Russia:

* It provides historical values for Russia's non-life insurance segment for the report's 2009-2013 review period and forecast figures for the 2013-2018 forecast period.
* It offers a detailed analysis of the key categories in Russia's non-life insurance segment, along with market forecasts until 2018.
* It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, frauds and crimes, total assets, total investment income and retentions.
* It analyses the various distribution channels for non-life insurance products in Russia.

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