Boston, MA -- (SBWIRE) -- 07/19/2013 -- At first glance, the prospects for Russia's insurance sector appear quite exciting. By any standard, the Russian non-life segment is both large and rapidly growing. According to the Federal Financial Markets Service (FFMS), premiums increased by about one fifth in H112 relative to the previous corresponding period. Life premiums are surging, albeit from very low levels. The regulator has imposed new - and more stringent - capital requirements, which has contributed to the ongoing rationalisation of the insurance sector.

Nevertheless, as of early 2013, it remains easy to identify weaknesses in the Russian insurance sector. Thus far, much of the development of the industry has depended on the growth of compulsory lines. Compulsory Medical Expenses Insurance (CMEI) is by far the largest line and represents about half of all premiums written across the entire sector.

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