Life Insurance in Russia - Market Summary, Competitive Analysis and Forecast to 2025

Life Insurance in Russia industry profile provides top-line qualitative and quantitative summary information including: market size (value and volume 2016-20, and forecast to 2025). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.

Key Highlights

The value of the life insurance market is shown in terms of gross premium incomes from mortality protection and retirement savings plans.
The Russian life insurance market had total gross written premiums of $6.0bn in 2020, representing a compound annual growth rate (CAGR) of 18.9% between 2016 and 2020.
The Life Insurance segment was the market's most lucrative in 2020, with total gross written premiums of $4.5bn, equivalent to 76.2% of the market's overall value.
The economic uncertainty brought about by the COVID-19 pandemic has caused consumer confidence to take a hit globally in 2020, which has encouraged the uptake of life insurance policies in Russia and supported growth in the market.

Scope

Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the life insurance market in Russia
Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the life insurance market in Russia
Leading company profiles reveal details of key life insurance market players’ global operations and financial performance
Add weight to presentations and pitches by understanding the future growth prospects of the Russia life insurance market with five year forecasts by both value and volume

Reasons to Buy

What was the size of the Russia life insurance market by value in 2020?
What will be the size of the Russia life insurance market in 2025?
What factors are affecting the strength of competition in the Russia life insurance market?
How has the market performed over the last five years?
What are the main segments that make up Russia's life insurance market?

Frequently Asked Questions about the Russian Life Insurance Market

What is the estimated value of the Russian Life Insurance Market?

The Russian Life Insurance Market was estimated to be valued at $5.95 Billion in 2020.

What is the growth rate of the Russian Life Insurance Market?

The growth rate of the Russian Life Insurance Market is 4.2%, with an estimated value of $7.33 Billion by 2025.

What is the forecasted size of the Russian Life Insurance Market?

The Russian Life Insurance Market is estimated to be worth $7.33 Billion by 2025.

Who are the key companies in the Russian Life Insurance Market?

Key companies in the Russian Life Insurance Market include SOGAZ Insurance Group, Alfa Group Consortium (Wealth Management), Sberbank Rossii, Ingosstrakh Joint and Stock Insurance Co Ltd.

Report Attribute	Details
No. of Pages	42
Published	October 2021
Forecast Period	2020 - 2025
Estimated Market Value ( USD ) in 2020	$ 5.95 Billion
Forecasted Market Value ( USD ) by 2025	$ 7.33 Billion
Compound Annual Growth Rate	4.2%
Regions Covered	Russia

1 Executive Summary

1.1. Market value
1.2. Market value forecast
1.3. Category segmentation
1.4. Geography segmentation
1.5. Market share
1.6. Market rivalry
1.7. Competitive Landscape

2 Market Overview

2.1. Market definition
2.2. Market analysis

3 Market Data

3.1. Market value

4 Market Segmentation

4.1. Category segmentation
4.2. Geography segmentation

5 Market Outlook

5.1. Market value forecast

6 Five Forces Analysis

6.1. Summary
6.2. Buyer power
6.3. Supplier power
6.4. New entrants
6.5. Threat of substitutes
6.6. Degree of rivalry

7 Competitive Landscape

7.1. Market share
7.2. Who are the leading players?
7.3. What strategies do leading players follow?
7.4. What has been the rationale behind recent M&A activity?
7.5. How has the COVID-19 outbreak impacted the market?

8 Company Profiles

8.1. SOGAZ Insurance Group
8.2. Alfa Group Consortium (Wealth Management)
8.3. Sberbank Rossii
8.4. Ingosstrakh Joint-Stock Insurance Co Ltd

9 Macroeconomic Indicators

9.1. Country data

10 Appendix

10.1. Methodology
10.2. Industry associations
10.3. Related Research
10.4. About the Author

List of Tables

Table 1: Russia life insurance market value: $ billion, 2016-20
Table 2: Russia life insurance market category segmentation: $ billion, 2020
Table 3: Russia life insurance market geography segmentation: $ billion, 2020
Table 4: Russia life insurance market value forecast: $ billion, 2020-25
Table 5: Russia life insurance market share: % share, by value, 2020
Table 6: SOGAZ Insurance Group: key facts
Table 7: SOGAZ Insurance Group: Key Employees
Table 8: Alfa Group Consortium (Wealth Management): key facts
Table 9: Alfa Group Consortium (Wealth Management): Key Employees
Table 10: Sberbank Rossii: key facts
Table 11: Sberbank Rossii: Annual Financial Ratios
Table 12: Sberbank Rossii: Key Employees
Table 13: Sberbank Rossii: Key Employees Continued
Table 14: Ingosstrakh Joint-Stock Insurance Co Ltd: key facts
Table 15: Ingosstrakh Joint-Stock Insurance Co Ltd: Key Employees
Table 16: Russia size of population (million), 2016-20
Table 17: Russia gdp (constant 2005 prices, $ billion), 2016-20
Table 18: Russia gdp (current prices, $ billion), 2016-20
Table 19: Russia inflation, 2016-20
Table 20: Russia consumer price index (absolute), 2016-20
Table 21: Russia exchange rate, 2016-20

List of Figures

Figure 1: Russia life insurance market value: $ billion, 2016-20
Figure 2: Russia life insurance market category segmentation: % share, by value, 2020
Figure 3: Russia life insurance market geography segmentation: % share, by value, 2020
Figure 4: Russia life insurance market value forecast: $ billion, 2020-25
Figure 5: Forces driving competition in the life insurance market in Russia, 2020
Figure 6: Drivers of buyer power in the life insurance market in Russia, 2020
Figure 7: Drivers of supplier power in the life insurance market in Russia, 2020
Figure 8: Factors influencing the likelihood of new entrants in the life insurance market in Russia, 2020
Figure 9: Factors influencing the threat of substitutes in the life insurance market in Russia, 2020
Figure 10: Drivers of degree of rivalry in the life insurance market in Russia, 2020
Figure 11: Russia life insurance market share: % share, by value, 2020