Russia Insurance Report Q4 2016

Publisher Name :
Date: 07-Sep-2016
No. of pages: 50

BMI View: Much of Russia's non-life segment is vulnerable to weakness in volume growth as a result of

deterioration in the economy. It is also likely that some insurers will suffer as a result of price competition.

The non-life segment continues to be dominated by health insurance, which consists mainly of Compulsory

Medical Expense Insurance (CMEI) covers. Neither the health insurance sub-sector, nor the non-life

segment as a whole, appear set to grow in real terms. The structural constraints facing the life insurance

segment are immense, and will likely not be resolved during the forecast period: life insurance will likely

remain at an nascent level of development in 2020.

Key Updates And Forecasts

? We have left our forecasts for the life segment largely unchanged. The segment is likely to remain at an

embryonic level of development thanks to the structural challenges, which will prevail through the

forecast period. The population is not growing. Too many households cannot afford the life insurers'

offerings. Rich households tend not to use life insurance products offered by Russian insurers. Above all,

there remains a lack of trust in financial institutions. Non-life premiums are not growing in real terms.

We have revised down our forecasts. This is because health insurance premiums in 2015 were

RUR1,278bn, rather than the RUR1,553bn that we had been looking for. This matters, because the health

insurance sub-sector accounts for over half of the premiums that are written in the non-life segment.

Russia Insurance Report Q4 2016

Table of Contents

BMI Industry View 5
Table: Headline Insurance Forecasts (Russia 2013-2020) 5
SWOT 7
Insurance 7
Industry Forecast 9
Life Premiums Forecast 9
Table: Life Premiums (Russia 2013-2020) 12
Table: Life Insurance Claims (Russia 2008-2015) 12
Non-Life Premiums Forecast 13
Table: Non-Life Premiums (Russia 2013-2020) 16
Table: Non-Life Insurance Claims (Russia 2009-2015) 18
Non-Life Sub-Sector Forecast 19
Table: Non-Life Insurance Premiums By Product Line (Russia 2013-2020) 27
Insurance Risk/Reward Index 29
Emerging Europe Risk/Reward Index 29
Table: Emerging Europe Insurance Risk/Reward Index - Q416 30
Market Overview 31
Life Market Overview 31
Product Offering 31
Competitive Landscape 31
Table: Russia Life Insurance Market (USDmn) 2010-2014 33
Non-Life Market Overview 35
Product Offering 35
Competitive Landscape 35
Table: Russia Non-Life Insurance Market (USDmn) 2011-2014 37
Company Profile 39
MetLife 39
Rosgosstrakh (RGS) 41
Methodology 44
Industry Forecast Methodology 44
Risk/Reward Index Methodology 47
Table: Indicators 49
Table: Weighting of Indicators 50

List of Tables

Table: Headline Insurance Forecasts (Russia 2013-2020)
Table: Life Premiums (Russia 2013-2020)
Table: Life Insurance Claims (Russia 2008-2015)
Table: Non-Life Premiums (Russia 2013-2020)
Table: Non-Life Insurance Claims (Russia 2009-2015)
Table: Non-Life Insurance Premiums By Product Line (Russia 2013-2020)
Table: Emerging Europe Insurance Risk/Reward Index - Q416
Table: Russia Life Insurance Market (USDmn) 2010-2014
Table: Russia Non-Life Insurance Market (USDmn) 2011-2014
Table: Indicators
Table: Weighting of Indicators
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