Recently published research from Business Monitor International, "Russia Insurance Report Q1 2014", is now available at Fast Market Research
Boston, MA -- (SBWIRE) -- 01/07/2014 -- At first glance, the main trends in Russia's insurance sector appear positive in late 2013. Nonlife premiums have been growing rapidly. Life insurance seems to be developing from a low base. Thanks partly to pressure from the regulator, much needed consolidation of the industry is underway. All this is in the context of an insurance sector where several of the largest players - and in particular market leader Rosgosstrakh (RGS) - clearly have scale by any standard. However, it is the weaknesses of, and threats to, the sector that dominate. Growth is overly dependent on compulsory lines. Neither the regulators nor the local insurance companies have made much progress in addressing the main challenge that must be overcome by the life segment: the lack of trust on the part of individuals and households.
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. 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.
View Full Report Details and Table of Contents
Nevertheless, as of late 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.
About Fast Market Research
Fast Market Research is an online aggregator and distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff will help you find the right research to fit your requirements and your budget. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.
Browse all Financial Services research reports at Fast Market Research
You may also be interested in these related reports:
- India Insurance Report Q1 2014
- Singapore Insurance Report Q1 2014
- Mexico Insurance Report Q1 2014
- Hong Kong Insurance Report Q1 2014
- Taiwan Insurance Report Q1 2014
- Brazil Insurance Report Q1 2014
- New Zealand Insurance Report Q1 2014
- Bulgaria Insurance Report Q1 2014
- China Insurance Report Q1 2014
- Thailand Insurance Report Q1 2014