New market study, "Russia Insurance Report Q4 2015", has been published

From: Fast Market Research, Inc.
Published: Mon Sep 07 2015


Insurers in Russia face extremely difficult short - to medium- term trading conditions, with a c ontracting economy, the impact of international sanctions and a collapse in consumer confidence contributing to a decline in both life and non-life insurance premiums over 2015. In the medium term the market does offer considerable growth potential, with an increasingly robust regulatory environment supporting a more sustainable insurance sector ; however , barriers to foreign entry remain and many domestic insurers lack sufficie nt capital to survive the short- term market decline.

We are currently forecasting high double-digit declines in terms of both life and non-life insurance premiums in 2015, when measured in US dollar terms. A combination of factors including the decline in global oil prices and affect of EU and US sanctions mean we are forecasting a 5.2% contraction in Russia's GDP in 2015 with only minimal growth expected in 2016. Alongside this we expect private financial consumption to fall by 8.5% in the short term following a rise in unemployment, decline in real wages, and high household debt. This will impact heavily upon the smaller insurance firms which are already struggling to maintain new, higher, solvency requirements. As such we expect to see further consolidation of the market over the coming months.

Full Report Details at
- http://www.fastmr.com/prod/1038344_russia_insurance_report_q4.aspx?afid=301

The Russia Insurance Report has been researched at source and features BMI Research's independent assessment and forecasts for the insurance sector. It examines industry developments, key growth drivers and risk management projections, including the macroeconomic situation, government policy, regulatory environment and the level of development and potential for growth, broken down by line. Leading insurers are profiled, covering premiums, products and services and competitive positioning.

BMI's Russia Insurance Report provides professionals, consultancies, government departments, regulatory bodies and researchers with independent forecasts and regional competitive intelligence on the Russian insurance industry.

Key Benefits

* Benchmark BMI's independent insurance industry forecasts for Russia to test other views - a key input for successful budgeting and strategic business planning in Russia's insurance market.
* Target business opportunities and risks in Russia through our reviews of latest industry trends, regulatory changes and major deals, investments and macroeconomic developments.
* Exploit latest competitive intelligence on your competitors, partners and clients via our Company Profiles (inc. SWOTs, KPIs and latest activity).

Coverage

BMI Industry View

Summary of BMI’s key industry forecasts and views, covering the Life and Non-Life segments, the evolving competitive landscape and business operational risks.

Industry SWOT Analysis

About Fast Market Research

Fast Market Research is a leading distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff is always available to help you find the right research to fit your requirements and your budget.

For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156 (1.413.485.7001 Int'l)

You may also be interested in these related reports:

- Czech Republic Insurance Report Q4 2015
- Brazil Insurance Report Q4 2015
- Turkey Insurance Report Q4 2015
- Kenya Insurance Report Q4 2015
- Hungary Insurance Report Q4 2015

Company: Fast Market Research, Inc.
Contact Name: Bill Thompson
Contact Email: press@fastmr.com
Contact Phone: 1-413-485-7001

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