Non-Life Insurance Premiums and Claims in Russia to 2017: Market Brief

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					Non-Life Insurance Premiums and
Claims in Russia to 2017: Market Brief


Reference Code: IN4327MB
Published: September 2013




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TABLE OF CONTENTS

1         INTRODUCTION ...........................................................................................................5
    1.1      What is this Report About? .................................................................................................. 5
    1.2      Definitions ........................................................................................................................... 5
2         PREMIUMS ...................................................................................................................6
    2.1      Gross Written Premiums ..................................................................................................... 6
    2.2      Gross Written Premium Forecast ........................................................................................ 7
    2.3      Premiums Per Capita .......................................................................................................... 8
    2.4      Premiums Per Capita Forecast ........................................................................................... 9
    2.5      Insurance Penetration ....................................................................................................... 10
    2.6      Insurance Penetration Forecast ........................................................................................ 11
3         CLAIMS ......................................................................................................................12
    3.1      Gross Claims .................................................................................................................... 12
    3.2      Gross Claims Forecast ...................................................................................................... 13
    3.3      Paid Claims ....................................................................................................................... 14
    3.4      Paid Claims Forecast ........................................................................................................ 15
    3.5      Incurred Loss .................................................................................................................... 16
    3.6      Incurred Loss Forecast...................................................................................................... 17
    3.7      Loss Ratio % ..................................................................................................................... 18
    3.8      Loss Ratio % Forecast ...................................................................................................... 19
    3.9      Combined Ratio % ............................................................................................................ 20
    3.10     Combined Ratio % Forecast.............................................................................................. 21
4         APPENDIX ..................................................................................................................22
    4.1      Methodology ..................................................................................................................... 22
    4.2      Contact Us ........................................................................................................................ 22
    4.3      About Timetric ................................................................................................................... 22
    4.4      Our Services ..................................................................................................................... 22
    4.5      Disclaimer ......................................................................................................................... 24




Non-Life Insurance Premiums and Claims in Russia to 2017: Market Brief
                                                                                                                                            Page 2
© Timetric. This product is licensed and is not to be photocopied
                                                                                                                     Published: September 2013
LIST OF TABLES

Table 1: Insurance Industry Definitions ................................................................................................................5
Table 2: Russian Non-Life Insurance Gross Written Premiums (US$ Million), 2008-2012 ..................................6
Table 3: Russian Non-Life Insurance Gross Written Premiums (RUB Billion), 2008-2012 ..................................6
Table 4: Russian Non-Life Insurance Gross Written Premiums (US$ Million), 2012-2017 ..................................7
Table 5: Russian Non-Life Insurance Gross Written Premiums (RUB Billion), 2012-2017 ..................................7
Table 6: Russian Non-Life Insurance Premiums Per Capita (US$), 2008-2012 .................................................8
Table 7: Russian Non-Life Insurance Premiums Per Capita (RUB), 2008-2012 ................................................8
Table 8: Russian Non-Life Insurance Premiums Per Capita (US$), 2012-2017 ..................................................9
Table 9: Russian Non-Life Insurance Premiums Per Capita (RUB), 2012-2017 .................................................9
Table 10: Russian Non-Life Insurance Penetration (% of GDP), 2008-2012 .................................................... 10
Table 11: Russian Non-Life Insurance Penetration (% of GDP), 2012-2017 .................................................... 11
Table 12: Russian Non-Life Insurance Gross Claims (US$ Million), 2008-2012 .............................................. 12
Table 13: Russian Non-Life Insurance Gross Claims (RUB Billion), 2008-2012 .............................................. 12
Table 14: Russian Non-Life Insurance Gross Claims (US$ Million), 2012-2017 .............................................. 13
Table 15: Russian Non-Life Insurance Gross Claims (RUB Billion), 2012-2017 .............................................. 13
Table 16: Russian Non-Life Insurance Paid Claims (US$ Million), 2008-2012 ................................................. 14
Table 17: Russian Non-Life Insurance Paid Claims (RUB Billion), 2008-2012 ................................................. 14
Table 18: Russian Non-Life Insurance Paid Claims (US$ Million), 2012-2017 ................................................. 15
Table 19: Russian Non-Life Insurance Paid Claims (RUB Billion), 2012-2017 ................................................. 15
Table 20: Russian Non-Life Insurance Incurred Loss (US$ Million), 2008-2012 .............................................. 16
Table 21: Russian Non-Life Insurance Incurred Loss (RUB Billion), 2008-2012 .............................................. 16
Table 22: Russian Non-Life Insurance Incurred Loss (US$ Million), 2012-2017 .............................................. 17
Table 23: Russian Non-Life Insurance Incurred Loss (RUB Billion), 2012-2017 .............................................. 17
Table 24: Russian Non-Life Insurance Loss Ratio % (Percentage), 2008-2012............................................... 18
Table 25: Russian Non-Life Insurance Loss Ratio % (Percentage ), 2012-2017.............................................. 19
Table 26: Russian Non-Life Insurance Combined Ratio % (Percentage), 2008-2012 ...................................... 20
Table 27: Russian Non-Life Insurance Combined Ratio % (Percentage), 2012-2017 ...................................... 21




Non-Life Insurance Premiums and Claims in Russia to 2017: Market Brief
                                                                                                                                               Page 3
© Timetric. This product is licensed and is not to be photocopied
                                                                                                                       Published: September 2013
LIST OF FIGURES

Figure 1: Russian Non-Life Insurance Gross Written Premiums (US$ Million), 2008-2012 ................................6
Figure 2: Russian Non-Life Insurance Gross Written Premiums (US$ Million), 2012-2017 ................................7
Figure 3: Russian Non-Life Insurance Premiums Per Capita (US$), 2008-2012 ................................................8
Figure 4: Russian Non-Life Insurance Premiums Per Capita (US$) 2012-2017 ..................................................9
Figure 5: Russian Non-Life Insurance Penetration (% of GDP), 2008-2012..................................................... 10
Figure 6: Russian Non-Life Insurance Penetration (% of GDP) 2012-2017 ...................................................... 11
Figure 7: Russian Non-Life Insurance Gross Claims (US$ Million), 2008-2012 ............................................... 12
Figure 8: Russian Non-Life Insurance Gross Claims (US$ Million), 2012-2017 ............................................... 13
Figure 9: Russian Non-Life Insurance Paid Claims (US$ Million), 2008-2012 .................................................. 14
Figure 10: Russian Non-Life Insurance Paid Claims (US$ Million), 2012-2017................................................ 15
Figure 11: Russian Non-Life Insurance Incurred Loss (US$ Million), 2008-2012 ............................................. 16
Figure 12: Russian Non-Life Insurance Incurred Loss (US$ Million), 2012-2017 ............................................. 17
Figure 13: Russian Non-Life Insurance Loss Ratio % (Percentage), 2008-2012 ............................................. 18
Figure 14: Russian Non-Life Insurance Loss Ratio % (Percentage ) 2012-2017 ............................................. 19
Figure 15: Russian Non-Life Insurance Combined Ratio % (Percentage), 2008-2012 .................................... 20
Figure 16: Russian Non-Life Insurance Combined Ratio % (Percentage) ,2012-2017 .................................... 21




Non-Life Insurance Premiums and Claims in Russia to 2017: Market Brief
                                                                                                                      Page 4
© Timetric. This product is licensed and is not to be photocopied
                                                                                                   Published: September 2013
1 INTRODUCTION

1.1    What is this Report About?

       This report is the result of extensive research into the non-life insurance market in Russia, providing
       historic and forecast data on the following life insurance premiums and claims segments -

       Premiums
              Gross Written Premiums
              Premiums Per Capita
              Insurance Penetration

       Claims
                  Gross Claims
                  Paid Claims
                  Incurred Loss
                  Loss Ratio%
                  Combined Ratio


1.2    Definitions

       All data is collected in local currency. All conversions into US dollars (US$) of current and forecast data
       are made at the 2012 average annual conversion rate. All values in tables are displayed to one or two
       decimal places. As such, growth rates may appear inconsistent with absolute values due to rounding.

       For the purposes of this report, the review period is 2008–2012 and the forecast period is 2012–2017.

       The key insurance industry terms covered in the report are defined below:

       Table 1: Insurance Industry Definitions
        Term                       Definition
                                   Incurred loss is the sum of claims paid by an insurance company and the change in the provision for
        Incurred Loss
                                   outstanding claims, irrespective of whether or not they have been reported.

        Claims Ratio               Claims ratio is claims payable as a percentage of premium income.

                                   Gross claim is the amount payable by an insurance company before allowances is made for credits that
        Gross Claim
                                   may be due in the form of reinsurance, subrogation or salvage.

        Gross Written              The total amount of premiums (before deduction of reinsurance costs) customers are required to pay for
        Premium                    insurance policies written during the year.

        Insurance Density and
                                   Insurance density is the percentage of total written premium to the GDP of a country.
        Penetration

                                   The loss ratio is the ratio of total losses paid out in the form of claims plus adjustment expenses divided
        Loss Ratio%
                                   by the total earned premium.

                                   The per capita premium is the per capita spending on insurance premiums in a country. It is the ratio of
        Per Capita Premium
                                   the total written premium to the total population of a country.

                                   Premium ceded is the share of the premiums transferred to a reinsurance company by a primary
        Premium Ceded
                                   insurer.

       Source: Timetric analysis                                                                                           
				
DOCUMENT INFO
Description: This report is the result of Timetric’s extensive market research covering the non-life insurance industry in Russia. It contains detailed historic and forecast data for premiums and claims. 'Non-Life Insurance Premiums and Claims in Russia to 2017: Market Brief' provides detailed insight into the operating environment of the non-life insurance industry in Russia. It is an essential tool for companies active across the Russia non-life insurance value chain and for new players considering to enter the market.
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