Personal Accident and Health Insurance in Russia, Key Trends and Opportunities to 2018

Published: Sep, 2014 | Pages: 248 | Publisher: Timetric
Industry: Insurance | Report Format: Electronic (PDF)


Synopsis
The report provides in-depth market analysis, information and insights into the Russian personal accident and health insurance segment, including:
The Russian personal accident and health insurance segment's growth prospects by insurance categories 
Key trends and drivers for the personal accident and health insurance segment 
The various distribution channels in the Russian personal accident and health insurance segment
The detailed competitive landscape in the personal accident and health insurance segment in Russia
Detailed regulatory policies of the Russian insurance industry
A description of the personal accident and health reinsurance segment in Russia
Porter's Five Forces analysis of the personal accident and health insurance segment
A benchmarking section on the Russian personal accident and health insurance segment in comparison with other countries in the BRICS region 

Summary
The Russian personal accident and health insurance segment registered strong growth during the review period (2009-2013). The segment's gross written premium increased at a review-period CAGR of 24.7%. This was due to the country's young population, compulsory lines of insurances, increased awareness of the need for insurance - especially among the younger population, an increase in employment, and competition among companies for higher market shares. The personal accident and health insurance segment is also expected to be more competitive in the presence of both domestic and foreign operators over the forecast period (2013-2018), mainly due to regulatory changes. 
Scope
This report provides a comprehensive analysis of the personal accident and health insurance segment in Russia:
It provides historical values for the Russian personal accident and health insurance segment for the report's 2009-2013 review period and forecast figures for the 2013-2018 forecast period.
It offers a detailed analysis of the key sub-segments in Russian personal accident and health insurance segment, along with market forecasts until 2018.
It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, frauds and crimes, total assets, total investment income and retentions.
It analyses the various distribution channels for personal accident and health insurance products in Russia.
Using Porter's industry-standard "Five Forces" analysis, it details the competitive landscape in Russia for the personal accident and health insurance segment.
It provides a detailed analysis of the reinsurance segment in Russia and its growth prospects.
It profiles the top personal accident and health insurance companies in Russia and outlines the key regulations affecting them. 
Reason To Buy
 Make strategic business decisions using in-depth historic and forecast market data related to the Russian personal accident and health insurance segment and each category within it
Understand the demand-side dynamics, key market trends and growth opportunities within the Russian personal accident and health insurance segment
Assess the competitive dynamics in the personal accident and health insurance segment, along with the reinsurance segment
Identify the growth opportunities and market dynamics within key product categories
Gain insights into key regulations governing the Russian insurance segment and its impact on companies and the market's future 
Key Highlights
 The personal accident and health segment accounted for 65.9% of the industry's gross written premium in 2013.
During the review period (2009-2013) Russian personal accident and health insurance segment recorded a CAGR of 24.7%.
Increasing awareness about the benefits of personal accident and health insurance products drove growth of segment.
Personal accident insurance was the segment's fastest-growing category during the review period, achieving a CAGR of 36.1%.
Health insurance was the segment's largest category during the review period, having grown at a CAGR of 24.1%, driven by an increase in employers' contributions, with significant levels of growth in the sale of VMI products. 
The personal accident category's growth will be driven by growth in the residential property market over the forecast period, as it is mandatory to take out personal accident insurance with a mortgage.

 1 Executive Summary
2 Introduction
2.1 What is this Report About?
2.2 Definitions
2.3 Methodology
3 Regiol Market Dymics
3.1 Overview
3.1.1 Market trends
3.1.2 Market size
4 Persol Accident and Health Insurance - Regiol Benchmarking
4.1 Overview
4.2 Scale and Penetration
4.2.1 Total market gross written premium
4.2.2 Premium per capita
4.2.3 Persol accident and health insurance penetration (as a percentage of GDP)
4.3 Growth
4.3.1 Gross written premium
4.3.2 Gross written premium per capita
4.4 Efficiency and Risk
4.4.1 Loss ratio
4.4.2 Incurred losses per capita
4.4.3 Incurred losses as a percentage of GDP
4.5 Distribution Channels
4.5.1 Direct marketing
4.5.2 Bancassurance
4.5.3 Agencies
5 Russian Insurance Industry Attractiveness
5.1 Insurance Industry Size, 2009-2018
5.2 Key Industry Trends and Drivers
5.3 Challenges
5.4 Recent Market Developments
6 Persol Accident and Health Insurance Segment Outlook
6.1 Consumer Segmentation
6.2 Product and Marketing Strategies
6.2.1 Product strategies
6.2.2 Marketing strategies
6.3 Persol Accident and Health Insurance Growth Prospects by Category
6.3.1 Persol accident insurance
6.3.2 Travel insurance
6.3.3 Health insurance
7 Alysis by Distribution Channel
7.1 Direct Marketing
7.2 Bancassurance
7.3 Agencies
7.4 E-commerce
7.5 Brokers
7.6 Other Channels
8 Porter's Five Forces Alysis - Russian Persol Accident and Health Insurance Segment
8.1 Bargaining Power of Suppliers: Medium
8.2 Bargaining Power of Buyers: Medium to High
8.3 Barriers to Entry: Low to Medium
8.4 Intensity of Rivalry: Medium to High
8.5 Threat of Substitutes: Low
9 Reinsurance Growth Dymics and Challenges
9.1 Reinsurance Segment Size, 2009-2018
9.2 Reinsurance Segment Size by Premium Ceded, 2009-2018
10 Governce, Risk and Compliance
10.1 Legislation Overview and Historical Evolution
10.2 Legislation and Market Practice by Type of Insurance
10.2.1 Life insurance
10.2.2 Property insurance
10.2.3 Motor insurance
10.2.4 Liability insurance
10.2.5 Marine, aviation and transit insurance
10.2.6 Persol accident and health insurance
10.3 Compulsory Insurance
10.3.1 Health insurance
10.3.2 Motor liability insurance (OSAGO)
10.3.3 Third-party liability insurance for hazardous activities
10.3.4 Aviation liability insurance
10.4 Supervision and Control
10.4.1 Intertiol Association of Insurance Supervisors
10.4.2 Bank of Russia Fincial Market Service (BRFMS)
10.4.3 All-Russian Insurance Association (ARIA)
10.5 Non-Admitted Insurance Regulations
10.5.1 Overview
10.5.2 Intermediaries
10.5.3 Market practices
10.5.4 Fines and pelties
10.6 Company Registration and Operations
10.6.1 Types of insurance organization
10.6.2 Establishing a local company
10.6.3 Foreign ownership
10.6.4 Types of license
10.6.5 Capital requirements
10.6.6 Solvency margins
10.6.7 Reserve requirements
10.6.8 Investment regulations
10.6.9 Statutory return requirements
10.6.10 Fee structure
10.7 Taxation
10.7.1 Insurance premium or policy taxation
10.7.2 Withholding taxes on premium paid overseas
10.7.3 Corporate tax
10.7.4 VAT
10.7.5 Captives
10.8 Legal System
10.8.1 Introduction
10.8.2 Access to court
10.8.3 Altertive dispute resolution (ADR)
11 Competitive Landscape and Strategic Insights
11.1 Overview
11.2 Leading Companies in the Russia Persol Accident and Health Insurance Segment
11.3 MAKS-M - Company Overview
11.3.1 MAKS-M - key facts
11.4 OJSC Insurance Company SOGAZ-Med - Company Overview
11.4.1 OJSC Insurance Company SOGAZ-Med - key facts
11.5 OJSC Rosno-MS - Company Overview
11.5.1 OJSC Rosno-MS - key facts
11.6 Rosgosstrakh-Medicine - Company Overview
11.6.1 Rosgosstrakh-Medicine - key facts
11.7 Kapital Health Insurance - Company Overview
11.7.1 Kapital Health Insurance - key facts
11.8 Ingosstrakh-M Insurance Company - Company Overview
11.8.1 Ingosstrakh-M Insurance Company - key facts
11.9 Reso-Med - Company Overview
11.9.1 Reso-Med - key facts
11.1 Yugoriya-MED - Company Overview
11.10.1 Yugoriya-MED - key facts
11.11 Solidarity for Life ZAO - Company Overview
11.11.1 Solidarity for Life ZAO - key facts
12 Business Environment and Country Risk
12.1 Business Confidence
12.1.1 Market capitalization trend - Moscow Stock Exchange
12.2 Economic Performance
12.2.1 GDP at constant prices (US$)
12.2.2 GDP per capita at constant prices (US$)
12.2.3 GDP at current prices (US$)
12.2.4 GDP per capita at current prices (US$)
12.2.5 GDP by key sector
12.2.6 Agriculture, hunting, forestry and fishing net output at current prices (US$)
12.2.7 Agriculture, hunting, forestry and fishing net output at current prices as a percentage of GDP
12.2.8 Manufacturing net output at current prices (US$)
12.2.9 Manufacturing net output at current prices as a percentage of GDP
12.2.10 Mining, manufacturing and utilities at current prices (US$)
12.2.11 Mining, manufacturing and utilities at current prices, as percentage of GDP
12.2.12 Construction net output at current prices, (US$)
12.2.13 Construction net output at current prices as a percentage of GDP
12.2.14 Inflation rate
12.2.15 Exports as a percentage of GDP
12.2.16 Imports as a percentage of GDP
12.2.17 Merchandise exports growth
12.2.18 Merchandise imports growth
12.2.19 Annual average exchange rate RUB-US$
12.3 Infrastructure
12.3.1 Total internet subscribers
12.4 Labor Force
12.4.1 Labor force
12.4.2 Unemployment rate
12.5 Demographics
12.5.1 Gross tiol disposable income (US$)
12.5.2 Household consumption expenditure (US$)
12.5.3 Total population
12.5.4 Urban and rural populations
12.5.5 Age distribution of the total population
13 Appendix
13.1 Methodology
13.2 Contact Timetric
13.3 About Timetric
13.4 Timetric's Services
13.5 Disclaimer


List of Tables
Table 1: Insurance Industry Definitions
Table 2: Russian Insurance - Gross Written Premium by Segment (RUB Billion), 2009-2013
Table 3: Russian Insurance - Gross Written Premium by Segment (US$ Billion), 2009-2013
Table 4: Russian Insurance - Gross Written Premium by Segment (RUB Billion), 2013-2018
Table 5: Russian Insurance - Gross Written Premium by Segment (US$ Billion), 2013-2018
Table 6: Russian Insurance - Segmentation, Gross Written Premium (Percentage Share), 2009-2018
Table 7: Russian Insurance - Direct Written Premium by Segment (RUB Billion), 2009-2013
Table 8: Russian Insurance - Direct Written Premium by Segment (US$ Billion), 2009-2013
Table 9: Russian Insurance - Direct Written Premium by Segment (RUB Billion), 2013-2018
Table 10: Russian Insurance - Direct Written Premium by Segment (US$ Billion), 2013-2018
Table 11: Russian Insurance - Segmentation, Direct Written Premium (% Share), 2009-2018
Table 12: Russian Insurance - Medical Cases and Required Cover
Table 13: Russian Persol Accident and Health Insurance - Gross Written Premium by Category (RUB Billion), 2009-2013
Table 14: Russian Persol Accident and Health Insurance - Gross Written Premium by Category (US$ Billion), 2009-2013
Table 15: Russian Persol Accident and Health Insurance - Gross Written Premium by Category (RUB Billion), 2013-2018
Table 16: Russian Persol Accident and Health Insurance - Gross Written Premium by Category (US$ Billion), 2013-2018
Table 17: Russian Persol Accident and Health Insurance - Direct Written Premium by Category (RUB Billion), 2009-2013
Table 18: Russian Persol Accident and Health Insurance - Direct Written Premium by Category (US$ Billion), 2009-2013
Table 19: Russian Persol Accident and Health Insurance - Direct Written Premium by Category (RUB Billion), 2013-2018
Table 20: Russian Persol Accident and Health Insurance - Direct Written Premium by Category (US$ Billion), 2013-2018
Table 21: Russian Persol Accident and Health Insurance - Earned Premium (RUB Billion), 2009-2013
Table 22: Russian Persol Accident and Health Insurance - Earned Premium (RUB Billion), 2013-2018
Table 23: Russian Persol Accident and Health Insurance - Paid Claims by Category (RUB Billion), 2009-2013
Table 24: Russian Persol Accident and Health Insurance - Paid Claims by Category (US$ Billion), 2009-2013
Table 25: Russian Persol Accident and Health Insurance - Paid Claims by Category (RUB Billion), 2013-2018
Table 26: Russian Persol Accident and Health Insurance - Paid Claims by Category (US$ Billion), 2013-2018
Table 27: Russian Persol Accident and Health Insurance - Incurred Loss by Category (RUB Billion), 2009-2013
Table 28: Russian Persol Accident and Health Insurance - Incurred Loss by Category (US$ Billion), 2009-2013
Table 29: Russian Persol Accident and Health Insurance - Incurred Loss by Category (RUB Billion), 2013-2018
Table 30: Russian Persol Accident and Health Insurance - Incurred Loss by Category (US$ Billion), 2013-2018
Table 31: Russian Persol Accident and Health Insurance - Retention by Category (RUB Billion), 2009-2013
Table 32: Russian Persol Accident and Health Insurance - Retention by Category (US$ Billion), 2009-2013
Table 33: Russian Persol Accident and Health Insurance - Retention by Category (RUB Billion), 2013-2018
Table 34: Russian Persol Accident and Health Insurance - Retention by Category (US$ Billion), 2013-2018
Table 35: Russian Persol Accident and Health Insurance - Loss Ratio (%), 2009-2013
Table 36: Russian Persol Accident and Health Insurance - Loss Ratio (%), 2013-2018
Table 37: Russian Persol Accident and Health Insurance - Commission and Expenses (RUB Billion), 2009-2013
Table 38: Russian Persol Accident and Health Insurance - Commission and Expenses (RUB Billion), 2013-2018
Table 39: Russian Persol Accident and Health Insurance - Combined Ratio (%), 2009-2013
Table 40: Russian Persol Accident and Health Insurance - Combined Ratio (%), 2013-2018
Table 41: Russian Persol Accident and Health Insurance - Frauds and Crimes (RUB Billion), 2009-2013
Table 42: Russian Persol Accident and Health Insurance - Frauds and Crimes (RUB Billion), 2013-2018
Table 43: Russian Persol Accident and Health Insurance - Total Assets (RUB Billion), 2009-2013
Table 44: Russian Persol Accident and Health Insurance - Total Assets (RUB Billion), 2013-2018
Table 45: Russian Persol Accident and Health Insurance - Total Investment Income (RUB Billion), 2009-2013
Table 46: Russian Persol Accident and Health Insurance - Total Investment Income (RUB Billion), 2013-2018
Table 47: Russian Persol Accident and Health Insurance - Retentions (RUB Billion), 2009-2013
Table 48: Russian Persol Accident and Health Insurance - Retentions (RUB Billion), 2013-2018
Table 49: Russian Persol Accident Insurance - Number of Policies Sold (Thousand), 2009-2013
Table 50: Russian Persol Accident Insurance - Number of Policies Sold (Thousand), 2013-2018
Table 51: Russian Persol Accident Insurance - Gross Written Premium (RUB Billion), 2009-2013
Table 52: Russian Persol Accident Insurance - Gross Written Premium (RUB Billion), 2013-2018
Table 53: Russian Persol Accident Insurance - Loss Ratio (%), 2009-2013
Table 54: Russian Persol Accident Insurance - Loss Ratio (%), 2013-2018
Table 55: Russian Travel Insurance - Number of Policies Sold (Thousand), 2009-2013
Table 56: Russian Travel Insurance - Number of Policies Sold (Thousand), 2013-2018
Table 57: Russian Travel Insurance - Gross Written Premium (RUB Billion), 2009-2013
Table 58: Russian Travel Insurance - Gross Written Premium (RUB Million), 2013-2018
Table 59: Russian Travel Insurance - Loss Ratio (%), 2009-2013
Table 60: Russian Travel Insurance - Loss Ratio (%), 2013-2018
Table 61: Russian Health Insurance - Number of Policies Sold (Thousand), 2009-2013
Table 62: Russian Health Insurance - Number of Policies Sold (Thousand), 2013-2018
Table 63: Russian Health Insurance - Gross Written Premium (RUB Billion), 2009-2013
Table 64: Russian Health Insurance - Gross Written Premium (RUB Billion), 2013-2018
Table 65: Russian Health Insurance - Direct Written Premium (RUB Billion), 2009-2013
Table 66: Russian Health Insurance - Direct Written Premium (RUB Billion), 2013-2018
Table 67: Russian Health Insurance - Loss Ratio (%), 2009-2013
Table 68: Russian Health Insurance - Loss Ratio (%), 2013-2018
Table 69: Russian Health Insurance - Retention (RUB Billion), 2009-2013
Table 70: Russian Health Insurance - Retention (RUB Billion), 2013-2018
Table 71: Russian Persol Accident and Health Insurance - Direct Marketing Commission Paid (RUB Billion), 2009-2013
Table 72: Russian Persol Accident and Health Insurance - Direct Marketing Commission Paid (RUB Billion), 2013-2018
Table 73: Russian Persol Accident and Health Insurance - Gross Written Premium New Business Through Direct Marketing (RUB Billion), 2009-2013
Table 74: Russian Persol Accident and Health Insurance - Gross Written Premium New Business Through Direct Marketing (RUB Billion), 2013-2018
Table 75: Russian Persol Accident and Health Insurance - Policies Sold Through Direct Marketing (Thousand), 2009-2013
Table 76: Russian Persol Accident and Health Insurance - Policies Sold Through Direct Marketing (Thousand), 2013-2018
Table 77: Russian Persol Accident and Health Insurance - Number of Direct Marketing Distributors, 2009-2013
Table 78: Russian Persol Accident and Health Insurance - Number of Direct Marketing Distributors, 2013-2018
Table 79: Russian Persol Accident and Health Insurance - Bancassurance Commission Paid (RUB Billion), 2009-2013
Table 80: Russian Persol Accident and Health Insurance - Bancassurance Commission Paid (RUB Billion), 2013-2018
Table 81: Russian Persol Accident and Health Insurance - Gross Written Premium New Business Through Bancassurance (RUB Billion), 2009-2013
Table 82: Russian Persol Accident and Health Insurance - Gross Written Premium New Business Through Bancassurance (RUB Billion), 2013-2018
Table 83: Russian Persol Accident and Health Insurance - Policies Sold Through Bancassurance (Thousand), 2009-2013
Table 84: Russian Persol Accident and Health Insurance - Policies Sold Through Bancassurance (Thousand), 2013-2018
Table 85: Russian Persol Accident and Health Insurance - Number of Bancassurance Distributors, 2009-2013
Table 86: Russian Persol Accident and Health Insurance - Number of Bancassurance Distributors, 2013-2018
Table 87: Russian Persol Accident and Health Insurance - Commission Paid to Agencies (RUB Billion), 2009-2013
Table 88: Russian Persol Accident and Health Insurance - Commission Paid to Agencies (RUB Billion), 2013-2018
Table 89: Russian Persol Accident and Health Insurance - Gross Written Premium New Business Through Agencies (RUB Billion), 2009-2013
Table 90: Russian Persol Accident and Health Insurance - Gross Written Premium New Business Through Agencies (RUB Billion), 2013-2018
Table 91: Russian Persol Accident and Health Insurance - Policies Sold Through Agencies (Thousand), 2009-2013
Table 92: Russian Persol Accident and Health Insurance - Policies Sold Through Agencies (Thousand), 2013-2018
Table 93: Russian Persol Accident and Health Insurance - Number of Agencies, 2009-2013
Table 94: Russian Persol Accident and Health Insurance - Number of Agencies, 2013-2018
Table 95: Russian Persol Accident and Health Insurance - E-Commerce Commission Paid (RUB Billion), 2009-2013
Table 96: Russian Persol Accident and Health Insurance - E-Commerce Commission Paid (RUB Billion), 2013-2018
Table 97: Russian Persol Accident and Health Insurance - Gross Written Premium New Business Through E-Commerce (RUB Billion), 2009-2013
Table 98: Russian Persol Accident and Health Insurance - Gross Written Premium New Business Through E-Commerce (RUB Billion), 2013-2018
Table 99: Russian Persol Accident and Health Insurance - Policies Sold Through E-Commerce (Thousand), 2009-2013
Table 100: Russian Persol Accident and Health Insurance - Policies Sold Through E-Commerce (Thousand), 2013-2018
Table 101: Russian Persol Accident and Health Insurance - Number of E-Commerce Distributors, 2009-2013
Table 102: Russian Persol Accident and Health Insurance - Number of E-Commerce Distributors, 2013-2018
Table 103: Russian Persol Accident and Health Insurance - Commission Paid to Brokers (RUB Billion), 2009-2013
Table 104: Russian Persol Accident and Health Insurance - Commission Paid to Brokers (RUB Billion), 2013-2018
Table 105: Russian Persol Accident and Health Insurance - Gross Written Premium New Business Through Brokers (RUB Billion), 2009-2013
Table 106: Russian Persol Accident and Health Insurance - Gross Written Premium New Business Through Brokers (RUB Billion), 2013-2018
Table 107: Russian Persol Accident and Health Insurance - Policies Sold Through Brokers (Thousand), 2009-2013
Table 108: Russian Persol Accident and Health Insurance - Policies Sold Through Brokers (Thousand), 2013-2018
Table 109: Russian Persol Accident and Health Insurance - Number of Brokers, 2009-2013
Table 110: Russian Persol Accident and Health Insurance - Number of Brokers, 2013-2018
Table 111: Russian Persol Accident and Health Insurance - Commission Paid to Other Channels (RUB Billion), 2009-2013
Table 112: Russian Persol Accident and Health Insurance - Commission Paid to Other Channels (RUB Billion), 2013-2018
Table 113: Russian Persol Accident and Health Insurance - Gross Written Premium New Business Through Other Channels (RUB Billion), 2009-2013
Table 114: Russian Persol Accident and Health Insurance - Gross Written Premium New Business Through Other Channels (RUB Billion), 2013-2018
Table 115: Russian Persol Accident and Health Insurance - Policies Sold Through Other Channels (Thousand), 2009-2013
Table 116: Russian Persol Accident and Health Insurance - Policies Sold Through Other Channels (Thousand), 2013-2018
Table 117: Russian Persol Accident and Health Insurance - Number of Distributors in Other Channels, 2009-2013
Table 118: Russian Persol Accident and Health Insurance - Number of Distributors in Other Channels, 2013-2018
Table 119: Russian Reinsurance - Premium Accepted by Category (RUB Billion), 2009-2013
Table 120: Russian Reinsurance - Premium Accepted by Category (US$ Billion), 2009-2013
Table 121: Russian Reinsurance - Premium Accepted by Category (RUB Billion), 2013-2018
Table 122: Russian Reinsurance - Premium Accepted by Category (US$ Billion), 2013-2018
Table 123: Russian Reinsurance - Premium Ceded by Type of Insurance (RUB Billion), 2009-2013
Table 124: Russian Reinsurance - Premium Ceded by Type of Insurance (US$ Billion), 2009-2013
Table 125: Russian Reinsurance - Premium Ceded by Type of Insurance (RUB Billion), 2013-2018
Table 126: Russian Reinsurance - Premium Ceded by Type of Insurance (US$ Billion), 2013-2018
Table 127: Russian Persol Accident and Health Insurance - Percentage of Reinsurance Ceded (%), 2009-2013
Table 128: Russian Persol Accident and Health Insurance - Percentage of Reinsurance Ceded (%), 2013-2018
Table 129: Russia - Life Insurance Regulatory Framework
Table 130: Russia - Property Insurance Regulatory Framework
Table 131: Russia - Motor Insurance Regulatory Framework
Table 132: Russia - Liability  Insurance Regulatory Framework
Table 133: Russia - Compensation Provided by the Insurer under OSAGO
Table 134: Russia - Compensation Provided by the Insurer in the Event of Accident by Domestic Air Carriage
Table 135: Russia - Minimum Capital Requirements
Table 136: Russia - Corporate Tax Rates in Russia for the Fincial Year 2013
Table 137: Russian Persol Accident and Health Insurance Written Premiums by Leading Companies (% Share), 2013
Table 138: MAKS-M - Key Facts
Table 139: OJSC Insurance Company SOGAZ-Med - Key Facts
Table 140: OJSC Rosno-MS - Key Facts
Table 141: Rosgosstrakh-Medicine - Key Facts
Table 142: Kapital Health Insurance - Key Facts
Table 143: Ingosstrakh-M Insurance Company - Key Facts
Table 144: Reso-Med - Key Facts
Table 145: Yugoriya-MED - Key Facts
Table 146: Solidarity for Life ZAO - Key Facts