Russia Non-Life Insurance Market Summary, Competitive Analysis and Forecast to 2027
Summary
Non-Life Insurance in Russia industry profile provides top-line qualitative and quantitative summary information including: market size (value and volume 2017-22, and forecast to 2027). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.
Key Highlights
- The non-life insurance market consists of the general insurance market segmented into motor, property, liability and other insurance. The other segment is made up of non-life insurance products including health, travel, and accident cover among others. The value of the non-life insurance market is shown in terms of gross premium incomes. Gross premium income is defined as the insurer’s premium income for the year from its policies, calculated without reduction for reinsurance premiums paid or payable by the insurer.
- The Russian non-life insurance market had total gross written premiums of $14.6 billion in 2022, representing a compound annual growth rate (CAGR) of 2.7% between 2017 and 2022.
- The Property segment accounted for market's the largest proportion in 2022, with total gross written premiums of $5.6 billion, equivalent to 38.5% of the market's overall value.
- GlobalData estimates that gross written premiums for property insurance in Russia will decrease with a CAGR of 1.3% between 2022 and 2025, which will not support the overall growth given this segment occupied an 18.9% share of total General Insurance in the Russian market.
- Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the non-life insurance market in Russia
- Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the non-life insurance market in Russia
- Leading company profiles reveal details of key non-life insurance market players’ global operations and financial performance
- Add weight to presentations and pitches by understanding the future growth prospects of the Russia non-life insurance market with five year forecasts by both value and volume
- What was the size of the Russia non-life insurance market by value in 2022?
- What will be the size of the Russia non-life insurance market in 2027?
- What factors are affecting the strength of competition in the Russia non-life insurance market?
- How has the market performed over the last five years?
- What are the main segments that make up Russia's non-life insurance market?
- 1 Executive Summary
- 1.1. Market value
- 1.2. Market value forecast
- 1.3. Category segmentation
- 1.4. Geography segmentation
- 1.5. Market share
- 1.6. Market rivalry
- 1.7. Competitive landscape
- 2 Market Overview
- 2.1. Market definition
- 2.2. Market analysis
- 3 Market Data
- 3.1. Market value
- 4 Market Segmentation
- 4.1. Category segmentation
- 4.2. Geography segmentation
- 5 Market Outlook
- 5.1. Market value forecast
- 6 Five Forces Analysis
- 6.1. Summary
- 6.2. Buyer power
- 6.3. Supplier power
- 6.4. New entrants
- 6.5. Threat of substitutes
- 6.6. Degree of rivalry
- 7 Competitive Landscape
- 7.1. Market share
- 7.2. Who are the leading players?
- 7.3. What strategies do leading players follow?
- 7.4. How has the COVID-19 outbreak impacted the market?
- 8 Company Profiles
- 8.1. Alfa Group Consortium (Wealth Management)
- 8.2. Ingosstrakh Joint-Stock Insurance Co Ltd
- 8.3. SOGAZ Insurance Group
- 8.4. Sberbank Rossii
- 9 Macroeconomic Indicators
- 9.1. Country data
- 10 Appendix
- 10.1. Methodology
- 10.2. Industry associations
- 10.3. Related MarketLine research
- 10.4. About MarketLine
- List of Tables
- Table 1: Russia non-life insurance market value: $ billion, 2017-22(e)
- Table 2: Russia non–life insurance market category segmentation: % share, by value, 2017–2022(e)
- Table 3: Russia non-life insurance market category segmentation: $ billion, 2017-2022
- Table 4: Russia non–life insurance market geography segmentation: $ billion, 2022(e)
- Table 5: Russia non-life insurance market value forecast: $ billion, 2022-27
- Table 6: Russia non-life insurance market share: % share, by value, 2022(e)
- Table 7: Alfa Group Consortium (Wealth Management): key facts
- Table 8: Alfa Group Consortium (Wealth Management): Key Employees
- Table 9: Ingosstrakh Joint-Stock Insurance Co Ltd: key facts
- Table 10: Ingosstrakh Joint-Stock Insurance Co Ltd: Key Employees
- Table 11: SOGAZ Insurance Group: key facts
- Table 12: SOGAZ Insurance Group: Key Employees
- Table 13: Sberbank Rossii: key facts
- Table 14: Sberbank Rossii: Annual Financial Ratios
- Table 15: Sberbank Rossii: Key Employees
- Table 16: Russia size of population (million), 2018–22
- Table 17: Russia gdp (constant 2005 prices, $ billion), 2018–22
- Table 18: Russia gdp (current prices, $ billion), 2018–22
- Table 19: Russia inflation, 2018–22
- Table 20: Russia consumer price index (absolute), 2018–22
- Table 21: Russia exchange rate, 2017–21
- List of Figures
- Figure 1: Russia non-life insurance market value: $ billion, 2017-22(e)
- Figure 2: Russia non-life insurance market category segmentation: $ billion, 2017-2022
- Figure 3: Russia non–life insurance market geography segmentation: % share, by value, 2022(e)
- Figure 4: Russia non-life insurance market value forecast: $ billion, 2022-27
- Figure 5: Forces driving competition in the non-life insurance market in Russia, 2022
- Figure 6: Drivers of buyer power in the non-life insurance market in Russia, 2022
- Figure 7: Drivers of supplier power in the non-life insurance market in Russia, 2022
- Figure 8: Factors influencing the likelihood of new entrants in the non-life insurance market in Russia, 2022
- Figure 9: Factors influencing the threat of substitutes in the non-life insurance market in Russia, 2022
- Figure 10: Drivers of degree of rivalry in the non-life insurance market in Russia, 2022
- Figure 11: Russia non-life insurance market share: % share, by value, 2022(e)
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