Now Available: Russia Insurance Report Q3 2016

From: Fast Market Research, Inc.
Published: Thu Jun 16 2016

The short-term outlook for Russia's insurance industry remains mixed. In local currency terms , both the life and non-life sectors are expected to remain in positive territory - though inflation will distort growth rates. Currency movements and the declining value of the rouble mean that premiums are expected to record a sharp decrease in US dollar terms in 2016, before returning to growth from 2017 to the end of the forecast period in 2020. The insurance market in Russia does offer enormous long-term growth potential, particularly in the underdeveloped life insurance sector, and we do expect to see more investor interest moving forward.

Key Updates And Forecasts

Sanctions and economic decline have had a wide impact upon Russia's insurance industry. The Russian Central Bank reported in April 2016 that around 100 insurance companies are currently considered to be in a high risk position, while 23 insurance firms and 5 brokers have already exited the market in Q1 2016.

Full Report Details at

On a more positive note, the Russian Central Bank also reported in April 2016 that the number of people enrolled into mandatory pension schemes increased by 4.3mn to reach 26.3mn in 2015 - bolstered by a programme to enrol default state-owned Vnesheconombank (VEB) customers.

The life insurance industry in Russia is small with a low density rate of just over USD10 per capita. We do expect to see steady premium growth in local currency terms over the forecast period, though in US dollar terms premiums will see only limited growth to reach USD1.6bn by 2020.

Stronger growth is expected in the larger non-life sector, supported by compulsory medical insurance payments and basic motor and property lines. Non-life premiums are currently forecast to reach USD43.3bn in 2020, up from USD34.0bn in 2016.

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.

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 or call us at 1.800.844.8156 (1.413.485.7001 Int'l)

You may also be interested in these related reports:

- India Insurance Report Q3 2016
- Estonia Insurance Report Q3 2016
- Poland Insurance Report Q3 2016
- Kenya Insurance Report Q3 2016
- Oman Insurance Report Q3 2016

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

Visit website »