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New Market Research Report: Russia Insurance Report Q4 2014

Recently published research from Business Monitor International, "Russia Insurance Report Q4 2014", is now available at Fast Market Research


Boston, MA -- (SBWIRE) -- 10/27/2014 -- We expect growth (in USD terms) in the Russian insurance sector to only pick up in 2015 as the depreciation of the Russian rouble weighs on 2014 performance. While non-life insurance will remain the dominant segment over the next five years, we expect life premiums to outperform as they grow from a low base. Although the recent increase in foreign capital quota represents an opportunity for multi-national insurers, we do not see strong interest fro m them in the near term due to profitability woes of t he non-life sector.

The life insurance industry in Russia remains small due to a traditional lack of trust among individuals to enter into long-term contracts with insurers. However, we expect life premiums to grow from a low base over the next five years and outperform non-life premium growth as rising home ownership spurs the growth of life insurance policies, which are mandatory when individuals take out a mortgage. Also, we see the country's rising middle-class population gradually embracing life insurance as awareness on the benefits of life products increases.

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The near-term outlook for the industry, however, remains challenging. Our Country Risk (CR) team forecasts GDP growth to slow to 0.6% in 2014 from 1.3% in 2013 due to the spill over effects of the ongoing political crisis with Ukraine. While we forecast gross premiums to grow 10.9% in 2014 in local currency terms, in USD terms growth will only come in at 0.4%. This is due to the massive depreciation of the Russian rouble (RUB) since the beginning of 2014 as nervous investors began to withdraw capital from the country amidst Russia's incursion into Ukraine.

In 2015, we forecast gross premiums to rebound and grow 7.6% in USD terms as the RUB begins to see some semblance of stability. Over the 2015-2018 period, we forecast average annual growth of 6.7% in gross premiums, which will see them rise from USD58.2bn in 2015 to USD74.1bn in 2018. While the non-life segment will remain the...

The Russia Insurance Report has been researched at source and features Business Monitor International (BMI)'s independent assessment and forecasts for the insurance sector. It examines industry developments, key growth drivers and risk management projections, including the macroeconomic situation, government policy, regulatory environment and the level of development and potential for growth, broken down by line. Leading insurers are profiled, covering premiums, products and services and competitive positioning.

BMI's Russia Insurance Report provides professionals, consultancies, government departments, regulatory bodies and researchers with independent forecasts and regional competitive intelligence on the Russian insurance industry.

Key Benefits

- Benchmark BMI's independent insurance industry forecasts for Russia to test other views - a key input for successful budgeting and strategic business planning in Russia's insurance market.
- Target business opportunities and risks in Russia through our reviews of latest industry trends, regulatory changes and major deals, investments and macroeconomic developments.
- Exploit latest competitive intelligence on your competitors, partners and clients via our Company Profiles (inc. SWOTs, KPIs and latest activity).


BMI Industry View

Summary of BMI's key industry forecasts and views, covering the Life and Non-Life segments, the evolving competitive landscape and business operational risks.

Industry SWOT Analysis

Analysis of the major Strengths, Weaknesses, Opportunities and Threats within the insurance sector and within the broader political, economic and business environment.

Regional Outlook

Individual analysis of both Life and Non-Life insurance sector developments and prospects across developed states and emerging markets - supported by BMI's global industry growth forecasts. This is followed by an in-depth evaluation of region- and country-specific trends, focusing on BMI's country-by-country market growth data.

Business Environment Rankings

BMI's Insurance Business Environment Rankings provide a country-comparative Risk-Reward Rankings index aimed at investors (Life and Non-Life) in the insurance market.

The rankings methodology makes sophisticated use of over 40 industry, economic and demographic data points and is part of BMI's integrated Country Risk-Industry Rankings products.

BMI Industry Forecasts

Historic data series (2008-2012) and forecasts to end-2018 for key industry and economic indicators (see list below) supported by explicit assumptions, plus analysis of key risks to the main forecasts. Indicators include:

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