Research and Markets: Life Insurance in Russia - Key Trends and Opportunities to 2018

DUBLIN--()--Research and Markets (http://www.researchandmarkets.com/research/27nnkw/life_insurance_in) has announced the addition of the "Life Insurance in Russia, Key Trends and Opportunities to 2018" report to their offering.

Russia has the world's 19th-largest insurance industry in terms of gross written premium. The life segment grew significantly following the global financial crisis of 2008-2009. The primary reasons were an increase in public awareness with regards to life insurance products, increase in employment, and the government's implementation of several laws to develop the insurance industry.

Russia's life insurance segment is underdeveloped when compared to Brazil, Russia, India and China (the BRIC countries). In gross written premium terms, the life segment accounted for 4.1% of the total gross written premium of Russian insurance industry in 2013. The main reasons for the segment's relatively low share are the country's lack of tax benefits for life insurance products and its underdeveloped private pension system. Most life insurance policies sold are bought as a mandatory requirement for people taking out a bank loan.

Key Highlights

  • The life segment accounted for 4.1% of the industry's gross written premium in 2013.
  • Russia has one of the most underdeveloped life segments among the BRICS countries.
  • Russia's life segment overcame the adverse impact of the global financial crisis of 2008-2009 due to an increase in the awareness of life insurance savings products and an increase in employment.
  • As a result of increase in paid-up capital in 2012, the life segment has gone through a period of consolidation as the total number of life insurance companies decreased from 604 in 2012 to 422 in 2013.
  • The Russian life insurance segment is highly concentrated, with 10 leading insurers accounting for an 86.9% share of the segment's total gross written premiums in 2013.

Key Topics Covered:

1 Executive Summary

2 Introduction

3 Regional Market Dynamics

4 Life Insurance - Regional Benchmarking

5 Russian Insurance Industry Attractiveness

6 Life Insurance Outlook

7 Analysis by Distribution Channel

8 Porter's Five Forces Analysis - Russian Life Insurance

9 Reinsurance Growth Dynamics and Challenges

10 Governance, Risk and Compliance

11 Competitive Landscape and Strategic Insights

12 Business Environment and Country Risk

13 Appendix

Companies Mentioned

  • Renaissance Life Insurance
  • AlfaStrakhovanie Life Insurance Co
  • Sberbank insurance
  • Rosgosstrakh Life
  • Metlife Alico
  • Russian Standard Insurance
  • Allianz Life Insurance
  • Societe Generale Life Insurance
  • CiV Life
  • Raiffeisen Life Insurance Company

For more information visit http://www.researchandmarkets.com/research/27nnkw/life_insurance_in

Contacts

Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com
For E.S.T. Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
Sector: Life Insurance

Contacts

Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com
For E.S.T. Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
Sector: Life Insurance