Insurance Poised to Boom in Russia

 

Friday, Aug 07,2009, 1:26:31 PM   Click:

Although the Russian insurance market is relatively underdeveloped and fragmented, he has recorded growth rates higher than the world average. The insurance premium has grown at a CAGR of over 22% during 2005-2008, but the global economic slowdown may reduce demand for insurance products in the short term. However, the insurance industry has strong growth potential in the medium term, once income begins to rise, says new research report, "Russian Insurance Industry Forecast 2012.

Our research has revealed that the stable economic environment was creating demand for insurance products in Russia. The increase in real income is to encourage people to invest long-term products such as insurance packages, especially life insurance. In addition, the Russian insurance market should see significant growth in the medium term that the country has a low penetration of insurance in relation 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: http://www.rncos.com/Report/IM204.htm

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About RNCOS:

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.