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Life Insurance in Russia, Key Trends and Opportunities to 2015
BRICdata, Dec 2011, Pages: 210
The report provides top-level market analysis, information and insights into the Russian life insurance industry, including:
- The Russian life insurance industry’s growth prospects by product category and customer segment
- The various distribution channels in the Russian life insurance industry
- The competitive landscape in the life insurance industry
- A description of the life reinsurance market in Russia
Russia has the most under developed life insurance markets among the BRIC countries (Brazil, Russia, India and China), with the life insurance market contributing only 2.2 percent of the overall written premium for the total insurance industry in 2010. The main barriers to the Russian life insurance market’s expansion include the lack of tax benefits on life insurance products, the under developed private pension system and the lack of trust for long-term insurance products among the Russian population. Despite this, there are considerable growth opportunities for Russia’s currently under developed life insurance market.
This report provides a comprehensive analysis of the life insurance market in Russia:
- It provides historical values for Russia’s life insurance industry for the report’s 2006–2010 review period and forecast figures for the 2011–2015 forecast period
- It offers a detailed analysis of the key sub-segments in Russia’s life insurance industry, along with market forecasts until 2015
- 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 life insurance products in Russia
- Using Porter’s industry-standard “Five Forces” analysis, it details the competitive landscape in Russia for the life insurance business
- It provides a detailed analysis of the reinsurance market in Russia and its growth prospects
- It profiles the top life insurance companies in Russia, and outlines the key regulations affecting them
Reasons To Buy
- Make strategic business decisions using top-level historic and forecast market data related to the Russian life insurance industry and each sector within it
- Understand the demand-side dynamics, key market trends and growth opportunities within the Russian life insurance industry
- Assess the competitive dynamics in the life insurance industry
- Identify the growth opportunities and industry dynamics within seven key product categories
- Gain insights into key regulations governing the Russian insurance industry and its impact on companies and the industry's future
Key Highlights
- Russia has the most under developed life insurance market among the BRIC countries (Brazil, Russia, India and China), with the life insurance market contributing only 2.2 percent of the overall written premium for the total insurance industry in 2010
- Russian life insurance market growth is expected to be driven by the sale of individual life insurance products
- An increase in minimum authorized capital requirements will lead to consolidation in the Russian life insurance market
- In 2010, the individual life insurance segment accounted for 66.7% of the total Russian life insurance industry, whereas the group life insurance market had a considerably lower market share of 14.5%
- An increase in FDI limits is expected, following Russia’s entry to the WTO
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