Insurance Poised to Boom in Russia

Delhi, India (PressExposure) August 06, 2009 -- Although the Russian insurance market is fairly underdeveloped and fragmented, it has recorded higher growth rate than the global average. The insurance premium grew at a CAGR of over 22% during 2005-2008, but the global economic slowdown is likely to shrink demand for insurance products in short term. However, the insurance industry has strong potential for medium term growth once income begins to rise, says our new research report, “Russian Insurance Industry Forecast to 2012”.

Our research has found that the stable economic environment has been creating demand for insurance products in Russia. Rising real income level is encouraging people to invest in long-term products such as insurance packages, particularly life insurance. Moreover, the Russian insurance market is expected to see significant growth in medium term as the country has low insurance penetration rate as compared to developed economies.

The Russian government is also supporting the insurance industry by delaying liberalization to allow local companies to strengthen their positions in the life insurance segment, where foreign companies have the greatest advantage in terms of expertise.

However, an expected drop in real income during 2009 followed by slow growth in 2010 will limit the demand for insurance products, which are unlikely to be considered a priority by households in the tough economic climate.

We have done thorough analysis of the Russian insurance market and found that it represents a small portion in global terms, but the growth rate has been far higher than global average. We have also studied various factors fueling growth in the market in our research. The report covers various insurance products that will help clients to understand and evaluate future scenario of the Russian insurance market.

“Russian Insurance Industry Forecast to 2012” provides rational and comprehensive information about the past and current performance of various segments of the Russian insurance market, including life insurance, non-life insurance, reinsurance market, aviation insurance, medical insurance, property insurance and cargo insurance.

For FREE SAMPLE of this report visit: []


About RNCOS E-Services Pvt. Ltd.

RNCOS, incorporated in the year 2002, is an industry research firm. We are a team of industry experts who analyze data collected from credible sources. We provide industry insights and analysis that helps corporations to take timely and accurate business decision in today's globally competitive environment.

Press Release Source:

Press Release Submitted On: August 06, 2009 at 1:30 am
This article has been viewed 16591 time(s).