Russia Insurance Market Intelligence - Market Research Reports On Aarkstore Enterprise

Russia Insurance Market Intelligence "With the disintegration of the Soviet Union

, the Russian insurance market witnessed several changes and a gradual development of market-oriented policies was recorded. The Russian insurance industry can be classified into life and non-life business, with the latter dominating the market on account of the compulsory medical and motor third-party liability insurance. Moreover, the voluntary property insurance has also added to the growth of the non-life sector in the country. The life insurance segment, on the contrary, has seen a significant fall since 2004. Growth in the overall insurance industry mainly came from the expanding economy, improving living standards, investment in non-life products, due to increasing investment in real estate and ownership of automobiles.

With the economic liberalization, the Russian insurance industry has witnessed an increase in private players, in both life and non-life segment. However, government policies, like the recent capital requirement policies for both life and non-life business units, have caused a fall in the total number of insurance players in the Russian market. Overall, at the end of 2008, there were only 200 actively operating insurers out of nearly 800 registered insurance companies in Russia. The share of insurance industry as a proportion of GDP is comparatively low and subject to major fluctuations in the Russian economy. The life business has a negligible share in the domestic insurance industry, as the Russian mainly invest in non-life products.

The present report gives an overview of the Russian insurance market along with the analysis of the countrys political structure and economic growth. The report provides an insight into the market size and growth in insurance premiums as well as life and non-life premiums. Insurance premiums are discussed in terms of life and non-life segments and the density and penetration levels. The various developments and drivers are also discussed and finally the projections regarding premium growth are given.

By combining SPSS Inc.s data integration and analysis capabilities with our relevant findings, we have predicted the future growth of the industry. We employed various significant variables that have an impact on this industry and created regression models with SPSS Base to determine the future direction of the industry. Before deploying the regression model, the relationship between several independent or predictor variables and the dependent variable was analyzed using standard SPSS output, including charts, tables and tests.

Table of Contents :

1. Industry Snapshot

1.1 Industry Structure

1.1.1 Gradual Development of Market-Oriented Policies with the Collapse of the Soviet Union

1.1.2 Stabilized Russian Economy towards 2000s Leading to Growth of Insurance Market

1.2 Market Overview

1.2.1 Market Size & Growth

1.2.1.1 Premium Growth on Account of Improved Economic Factors and Investment in Non-Life Products

1.2.1.2 Demand for Compulsory MTPL, Voluntary Health, and Traveler Insurance Driving Market Growth

1.2.1.3 Adverse Effect of Economy Slowdown on Life and Accident Segments

1.2.2 Market Segments

1.2.2.1 Non-Life Businesses Dominate the Insurance Market

1.2.2.2 Eradication of Tax Evasion Schemes Lead to Decline in Life Insurance Segment

1.2.2.3 Compulsory Health, MTPL Insurance Accounts for Largest Market Share

1.2.2.4 Compulsory Medical Insurance Dominates the Market with Largest Share

1.2.2.5 Replacement in System to Involve Compulsory Medical Insurance

1.2.3 Market Density & Penetration

1.2.3.1 Low Penetration of Products, Increasing Interest of Foreign Players to Boost Non-Life Insurance Growth

1.2.3.2 Low Share of Insurance Industry as a Proportion of GDP

1.2.4 Market Share

1.2.4.1 Government Policies Leading to Decrease in the Total Number of Players

1.2.4.2 Nine Largest Insurance Companies to Account for Maximum Market Share

2. Industry Analysis

2.1 Industry Developments

Rules & Regulations

Acquisitions

FSSN Restores the License of Biryuza Insurance

Introduction of Green Card Policies

2.2 Market Drivers

Growing GDP

Improving Living Standard of Population

Compulsory MTPL

Growing Pension Market

3. Country Analysis: Risk Assessment

3.1 Political Environment

3.2 Macro-Economic Indicators: Current and Projections

4. Industry Outlook: Forecast and Projections

4.1 Expanding Economy and Developing Energy, Industrial and Construction Sector to Boost the Market Growth

4.2 Tremendous Growth Opportunities on Account of Underdeveloped Market

4.3 Consolidation Expected

4.4 Stagnant Growth in Life Insurance in Short Term

4.5 Rise in Public Awareness and Public Opinion to Provide Growth in Standard Covers

List of Tables

Average Per Capita Money Income & Accrued Monthly Wages: (2003-2008)

Distribution of Population (%) by Per Capita Average Money Income: (2004-2008)

Actual & Per Capita Consumption of Households: (2003 2008)

Key Macroeconomic Indicators: (2008 2013F)

List of Charts

Annual Premium Russia Insurance Industry: (2001-2008)

Annual Premium Russia Insurance Industry: (1H09 vs. 1H08)

Insurance Premium Share (%) by Segment (2008)

Insurance Premium by Segment (2001-2008)

Insurance Premium Share by Segment (2008)

Russia Insurance Density: (2001 2008)

Russia Insurance Penetration: (2001 2008)

Russia: Major Insurers Market Share (2008)

GDP Growth of Russia (2001 2008)

Total Vehicle Ownership (Million) & CMTPL Policies Issued (Million): (2004 - 2008)

Growth (%) in CMTPL Policies Issued & Vehicle Ownership: (2005 - 2008)

Forecast: Russia Insurance Industry (2008A 2012F)

Forecast: Russia Life & Non-Life Insurance Industry (2008A 2012F)

For more information please visit :

http://www.aarkstore.com/reports/Russia-Insurance-Market-Intelligence-40731.html

by: Aarkstore Enterprise

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