Reinsurance in Russia, Key Trends and Opportunities to 2018

Published: Sep, 2014 | Pages: 72 | Publisher: Timetric
Industry: Insurance | Report Format: Electronic (PDF)


Synopsis
The report provides in-depth market analysis, information and insights into the Russian reinsurance segment, including:
The Russian reinsurance segment's growth prospects by reinsurance categories 
Key trends and drivers for the reinsurance segment 
The Russian reinsurance segment's growth prospects by reinsurance ceded from direct insurance segments
The competitive landscape in the Russian reinsurance segment 

Summary
During the review period (2009-2013), the Russian reinsurance segment underwent significant changes in terms of its regulatory structure. Paid-up capital increased from RUB120.0 million (US$3.96 million) to RUB480.0 million (US$15.8 million) in January 2012. The Russian reinsurance segment accounted for 0.7% of the global reinsurance written premium in 2013. The reinsurance segment's gross written premium rose at a compound annual growth rate (CAGR) of just 1.0%. The main reasons for the slow growth were the low operating efficiency of reinsurers in Russia, a lack of understanding of the benefits of reinsurance by Russian insurers, and an increase in reinsurance ceded to foreign rather than domestic reinsurers. 
Scope
This report provides a comprehensive analysis of the reinsurance segment in Russia:
It provides historical values for Russia's reinsurance 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 Russia's reinsurance segment, along with market forecasts until 2018.
It provides a detailed analysis of the reinsurance ceded from various direct insurance segments in Russia and its growth prospects. 
Reason To Buy
 Make strategic business decisions using in-depth historic and forecast market data related to the Russian reinsurance segment and each sector within it
Understand the demand-side dynamics, key market trends and growth opportunities within the Russian reinsurance segment
Identify the growth opportunities and market dynamics within key product categories
Gain insights into key regulations governing the Russian insurance industry and its impact on companies and the market's future 
Key Highlights
 Russian reinsurance accounted for 0.7% of the global reinsurance segment in 2013.
During the review period, the Russian reinsurance segment grew at a slow CAGR of 1.0%, due to the low operating efficiency of reinsurers, a lack of understanding of the benefits of reinsurance by Russian insurers, and an increase in reinsurance ceded to foreign rather than domestic reinsurers.
Leading reinsurers include Ingosstrakh, Sogaz Insurance Group, Unity Reinsurance, AlfaStrakhovanie and Transsib Re.
Foreign companies dominate the reinsurance segment. Although Russian reinsurers' tariffs are often lower than those of their main foreign competitors, most of Russia's outward reinsurance business goes to foreign companies.

 1 Executive Summary
2 Introduction
2.1 What is this Report About?
2.2 Definitions
2.3 Methodology
3 Russian Insurance Industry Attractiveness
3.1 Insurance Industry Size, 2009-2018
4 Reinsurance Segment Outlook
4.1 Reinsurance Segment Size, 2009-2018
4.2 Reinsurance Segment Size by Premium Ceded, 2009-2018
5 Key Industry Trends and Drivers
5.1 Life Insurance Segment Drivers
5.2 Non-Life Insurance Segment Drivers
5.3 Persol Accident and Health Insurance Segment Drivers
6 Competitive Landscape and Strategic Insights
6.1 Overview
6.2 Key Companies in the Russian Reinsurance Segment
6.3 Sogaz Insurance Group - Company Overview
6.3.1 Sogaz Insurance Group - key facts
6.4 Ingosstrakh Insurance Company OJSC - Company Overview
6.4.1 Ingosstrakh Insurance Company OJSC - key facts
6.5 Unity Reinsurance Company, Ltd - Company Overview
6.5.1 Unity Reinsurance Company, Ltd - key facts
6.6 Open Insurance Joint-stock Company Reso-Garantia - Company Overview
6.6.1 Reso-Garantia - key facts
6.7 Moscow Re OJSIRC - Company Overview
6.7.1 The Moscow Reinsurance Company - key facts
6.8 Oranta Insurance Company- Company Overview
6.8.1 Oranta Insurance Company - key facts
6.9 OJSC Transsiberian Reinsurance Corporation - Company Overview
6.9.1 OJSC Transsiberian Reinsurance Corporation - key facts
7 Business Environment and Country Risk
7.1 Business Confidence
7.1.1 Market capitalization trend - Moscow Stock Exchange
7.2 Economic Performance
7.2.1 GDP at constant prices (US$)
7.2.2 GDP per capita at constant prices (US$)
7.2.3 GDP at current prices (US$)
7.2.4 GDP per capita at current prices (US$)
7.2.5 GDP by key sector
7.2.6 Agriculture, hunting, forestry and fishing net output at current prices (US$)
7.2.7 Agriculture, hunting, forestry and fishing net output at current prices as a percentage of GDP
7.2.8 Manufacturing net output at current prices (US$)
7.2.9 Manufacturing net output at current prices as a percentage of GDP
7.2.10 Mining, manufacturing and utilities at current prices (US$)
7.2.11 Mining, manufacturing and utilities at current prices, as percentage of GDP
7.2.12 Construction net output at current prices, (US$)
7.2.13 Construction net output at current prices as a percentage of GDP
7.2.14 Inflation rate
7.2.15 Exports as a percentage of GDP
7.2.16 Imports as a percentage of GDP
7.2.17 Merchandise exports growth
7.2.18 Merchandise imports growth
7.2.19 Annual average exchange rate RUB-US$
7.3 Infrastructure
7.3.1 Total internet subscribers
7.4 Labor Force
7.4.1 Labor force
7.4.2 Unemployment rate
7.5 Demographics
7.5.1 Gross tiol disposable income (US$)
7.5.2 Household consumption expenditure (US$)
7.5.3 Total population
7.5.4 Urban and rural populations
7.5.5 Age distribution of the total population
8 Appendix
8.1 Methodology
8.2 Contact Timetric
8.3 About Timetric
8.4 Timetric's Services
8.5 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 Reinsurance - Premium Accepted by Category (RUB Billion), 2009-2013
Table 8: Russian Reinsurance - Premium Accepted by Category (US$ Billion), 2009-2013
Table 9: Russian Reinsurance - Premium Accepted by Category (RUB Billion), 2013-2018
Table 10: Russian Reinsurance - Premium Accepted by Category (US$ Billion), 2013-2018
Table 11: Russian Reinsurance - Premium Ceded by Type of Insurance (RUB Billion), 2009-2013
Table 12: Russian Reinsurance - Premium Ceded by Type of Insurance (US$ Billion), 2009-2013
Table 13: Russian Reinsurance - Premium Ceded by Type of Insurance (RUB Billion), 2013-2018
Table 14: Russian Reinsurance - Premium Ceded by Type of Insurance (US$ Billion), 2013-2018
Table 15: Russian Life Insurance - Percentage of Reinsurance Ceded (%), 2009-2013
Table 16: Russian Life Insurance - Percentage of Reinsurance Ceded (%), 2013-2018
Table 17: Russian Non-Life Insurance - Percentage of Reinsurance Ceded, 2009-2013
Table 18: Russian Non-Life Insurance - Percentage of Reinsurance Ceded, 2013-2018
Table 19: Russian Persol Accident and Health Insurance - Percentage of Reinsurance Ceded (%), 2009-2013
Table 20: Russian Persol Accident and Health Insurance - Percentage of Reinsurance Ceded (%), 2013-2018
Table 21: Russian Reinsurance - Key Companies, 2013
Table 22: Sogaz Insurance Group, Key Facts
Table 23: Ingosstrakh Insurance Company OJSC, Key Facts
Table 24: Unity Reinsurance Company, Ltd, Key Facts
Table 25: Reso-Garantia, Key Facts
Table 26: The Moscow Reinsurance Company, Key Facts
Table 27: Oranta Insurance Company, Key Facts
Table 28: OJSC Transsiberian Reinsurance Corporation, Key Facts