Personal Accident and Health Insurance in Russia, Key Trends and Opportunities to 2020

Personal Accident and Health Insurance in Russia, Key Trends and Opportunities to 2020


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Executive Summary

Timetric's 'Personal Accident and Health Insurance in Russia Key Trends and Opportunities to 2020' report provides a detailed outlook by product category for the Russian personal accident and health insurance segment, and a comparison of the Russian insurance industry with its regional counterparts.

It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, total investment income and retentions during the review period (2011-2015) and forecast period (2015-2020).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Russian economy and demographics, and provides detailed information on the competitive landscape in the country.

The report brings together Timetric's research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.

Summary

Timetric's 'Personal Accident and Health Insurance in Russia, Key Trends and Opportunities to 2020' report provides in-depth market analysis, information and insights into the Russian personal accident and health insurance segment, including:

An overview of the Russian personal accident and health insurance segment

The Russian personal accident and health insurance segment's growth prospects by category

A comprehensive overview of the Russian economy and demographics

A comparison of the Russian personal accident and health insurance segment with its regional counterparts

The various distribution channels in the Russian personal accident and health insurance segment

Details of the competitive landscape in the personal accident and health insurance segment in Russia

Details of regulatory policy applicable to the Russian insurance industry

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 2011-2015 review period, and projected figures for the 2015-2020 forecast period.

It offers a detailed analysis of the key categories in the Russian personal accident and health insurance segment, and market forecasts to 2020.

It provides a comparison of the Russian personal accident and health insurance segment with its regional counterparts

It provides an overview of the various distribution channels for personal accident and health insurance products in Russia.

It profiles the top personal accident and health insurance companies in Russia, and outlines the key regulations affecting them.

Reasons 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 in the Russian personal accident and health insurance segment.

Assess the competitive dynamics in the personal accident and health insurance segment.

Identify growth opportunities and market dynamics in key product categories.

Gain insights into key regulations governing the Russian insurance industry, and their impact on companies and the industry's future.

Key Highlights

Personal accident and health insurance is the largest Russian insurance segment, accounting for 67.3% of the industry's gross written premium in 2015.

The Russian government decreased healthcare expenditure from the annual budget by 8.7% in 2013, and reduced it further by 17.8% in 2015.

New regulations on the solvency and financial stability of insurance companies came into force on July 01, 2015.

Amid the Crimean crisis and the sanctions imposed by Western nations, the number of expatriates decreased at a fast pace in Russia.



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1 Key Facts and Highlights

2 Executive Summary

3 Economy and Demographics

4 Segment Outlook

4.1 Regional Comparison

4.2 Segment Indicators

4.2.1 Gross written premium and penetration

4.2.2 Policies sold

4.2.3 Claims

4.2.4 Profitability

4.2.5 Assets and investments

5 Outlook by Category

5.1 Personal Accident Insurance

5.1.1 Premium

5.1.2 Policies

5.1.3 Claims

5.2 Health Insurance

5.2.1 Premium

5.2.2 Policies

5.2.3 Claims

5.3 Travel Insurance

5.3.1 Premium

5.3.2 Policies

5.3.3 Claims

6 Distribution Channel Outlook

6.1 Analysis by Distribution Channel

6.1.1 Direct marketing

6.1.2 Agencies

6.1.3 Bancassurance

6.1.4 Brokers

6.1.5 E-commerce

7 Competitive Landscape

7.1 Company Profiles

7.1.1 Sogaz-Med-company overview

7.1.2 Rosno-MS-company overview

7.1.3 MAKC-M-company overview

7.1.4 Rosgosstrakh-Medicine-company overview

7.1.5 Alfa Strakhovanie-CHI-company overview

8 Governance, Risk and Compliance

8.1 Legislation Overview and Historical Evolution

8.2 Latest Changes in Regulation

8.3 Legislation and Market Practice by Type of Insurance

8.3.1 Life insurance

8.3.2 Property insurance

8.3.3 Motor insurance

8.3.4 Liability insurance

8.3.5 Marine, aviation and transit insurance

8.3.6 Personal accident and health insurance

8.4 Compulsory Insurance

8.4.1 Workmen's compensation insurance

8.4.2 Motor third-party liability insurance

8.4.3 Aviation liability insurance

8.4.4 Health insurance

8.4.5 Third-party liability insurance for hazardous activities

8.4.6 Clinical trials liability insurance

8.4.7 Liability for ships with respect to oil pollution

8.5 Supervision and Control

8.5.1 International Association of Insurance Supervisors

8.5.2 Financial Market Access Department of the Central Bank of Russia

8.5.3 All-Russian Insurance Association

8.6 Non-Admitted Insurance Regulation

8.6.1 Overview

8.6.2 Intermediaries

8.6.3 Market practices

8.6.4 Fines and Penalties

8.7 Company Registration and Operations

8.7.1 Type of insurance organization

8.7.2 Establishing a local company

8.7.3 Foreign ownership

8.7.4 Types of license

8.7.5 Capital requirements

8.7.6 Solvency margins

8.7.7 Reserve requirements

8.7.8 Investment regulations

8.7.9 Statutory return requirements

8.7.10 Fee structure

8.8 Taxation

8.8.1 Insurance premium or policy taxation

8.8.2 Withholding taxes on premium paid overseas

8.8.3 Corporate tax

8.8.4 VAT

8.8.5 Captives

8.9 Legal System

8.9.1 Introduction

8.9.2 Access to court

8.9.3 Alternative dispute resolution (ADR)

9 Databook

9.1 Policies and Premium

9.1.1 Claims and expenses

9.1.2 Assets and investments

9.1.3 Direct marketing and e-commerce

9.1.4 Insurance brokers and agencies

9.1.5 Bancassurance and other distribution channels

9.1.6 Personal accident insurance

9.1.7 Health insurance

9.1.8 Health insurance by product

9.1.9 Travel insurance

10 Definitions and Methodology

10.1 Definitions

10.2 Methodology

11 About Timetric

11.1 Contact Timetric

11.2 About Timetric

11.3 Timetric's Services

11.4 Disclaimer

Figure 1: Russian Real GDP (RUB Trillion) and Annual Growth (%), 2011-2020

Figure 2: Russian Current Account Balance as a Percentage of GDP (%), 2011-2015

Figure 3: Russian Consumer Price Inflation, 2011-2020

Figure 4: RUB-US$ Exchange Rate, 2011-2020

Figure 5: Russian Unemployment Rate, 2011-2020

Figure 6: Russian Population by Age Group, 1990-2025

Figure 7: Russian Personal Accident and Health Insurance Penetration-Regional Comparison (%), 2015

Figure 8: Russian Insurance Segment Direct Written Premium Shares-Regional Comparison (%), 2015

Figure 9: Russian Personal Accident and Health Insurance-Gross Written Premium (RUB Trillion), 2011-2020

Figure 10: Russian Personal Accident and Health Insurance-Penetration (%), 2011-2020

Figure 11: Russian Personal Accident and Health Insurance-Premium per Capita (RUB), 2011-2020

Figure 12: Russian Personal Accident and Health Insurance-Number of Policies Sold (Million), 2011-2020

Figure 13: Russian Personal Accident and Health Insurance-Paid Claims (RUB Trillion), 2011-2020

Figure 14: Russian Personal Accident and Health Insurance-Profitability Ratio (%), 2011-2020

Figure 15: Russian Personal Accident and Health Insurance-Total Assets (RUB Trillion), 2011-2020

Figure 16: Russian Personal Accident and Health Insurance-Direct Written Premium by Category (RUB Billion), 2011-2020

Figure 17: Russian Personal Accident and Health Insurance-Direct Written Premium Dynamics by Category, 2011-2020

Figure 18: Russian Personal Accident Insurance-Direct Written Premium (RUB Billion), 2011-2020

Figure 19: Russian Personal Accident Insurance-Number of Policies Sold (Million), 2011-2020

Figure 20: Russian Personal Accident Insurance-Paid Claims (RUB Billion), 2011-2020

Figure 21: Russian Health Insurance-Direct Written Premium (RUB Trillion), 2011-2020

Figure 22: Russian Health Insurance-Number of Policies Sold (Million), 2011-2020

Figure 23: Russian Health Insurance-Paid Claims (RUB Trillion), 2011-2020

Figure 24: Russian Personal Accident and Health Insurance-Direct Written Premium by Distribution Channel (%), 2011, 2015 and 2020

Figure 25: Russian Personal Accident and Health Insurance Industry-Market Shares of Leading Insurers (%), 2015

Figure 26: Russia-Insurance Supervision and Control at Various Levels

Figure 27: Russia-Insurance Regulatory Framework for Company Registration and Operation

Table 1: Russian Personal Accident and Health Insurance-Key Facts, 2015

Table 2: Russian Personal Accident and Health Insurance-Segment Shares of the Top Insurers, 2015

Table 3: Russian Government Credit Ratings

Table 4: Russian Personal Accident and Health Insurance-Gross Written Premium (RUB Trillion and US$ Billion), 2011-2015

Table 5: Russian Personal Accident and Health Insurance-Penetration (%), 2011-2015

Table 6: Russian Personal Accident and Health Insurance-Gross Written Premium (RUB Trillion and US$ Billion), 2015-2020

Table 7: Russian Personal Accident and Health Insurance-Penetration (%), 2015-2020

Table 8: Russian Personal Accident and Health Insurance-Premium per Capita (RUB and US$), 2011-2015

Table 9: Russian Personal Accident and Health Insurance-Premium per Capita (RUB and US$), 2015-2020

Table 10: Russian Personal Accident and Health Insurance-Number of Policies Sold (Million), 2011-2015

Table 11: Russian Personal Accident and Health Insurance-Number of Policies Sold (Million), 2015-2020

Table 12: Russian Personal Accident and Health Insurance-Paid Claims (RUB Trillion and US$ Billion), 2011-2015

Table 13: Russian Personal Accident and Health Insurance-Paid Claims (RUB Trillion and US$ Billion), 2015-2020

Table 14: Russian Personal Accident and Health Insurance-Profitability Ratio (%), 2011-2015

Table 15: Russian Personal Accident and Health Insurance-Profitability Ratio (%), 2015-2020

Table 16: Russian Personal Accident and Health Insurance-Total Assets (RUB Trillion and US$ Billion), 2011-2015

Table 17: Russian Personal Accident and Health Insurance-Total Assets (RUB Trillion and US$ Billion), 2015-2020

Table 18: Russian Personal Accident and Health Insurance-Direct Written Premium by Category (RUB Billion), 2011-2015

Table 19: Russian Personal Accident and Health Insurance-Direct Written Premium by Category (RUB Billion), 2015-2020

Table 20: Russian Personal Accident Insurance-Direct Written Premium (RUB Billion and US$ Billion), 2011-2015

Table 21: Russian Personal Accident Insurance-Direct Written Premium (RUB Billion and US$ Billion), 2015-2020

Table 22: Russian Personal Accident Insurance-Number of Policies Sold (Million), 2011-2015

Table 23: Russian Personal Accident Insurance-Number of Policies Sold (Million), 2015-2020

Table 24: Russian Personal Accident Insurance-Paid Claims (RUB Billion and US$ Million), 2011-2015

Table 25: Russian Personal Accident Insurance-Paid Claims (RUB Billion and US$ Million), 2015-2020

Table 26: Russian Health Insurance-Direct Written Premium (RUB Trillion and US$ Billion), 2011-2015

Table 27: Russian Health Insurance-Direct Written Premium (RUB Trillion and US$ Billion), 2015-2020

Table 28: Russian Health Insurance-Number of Policies Sold (Million), 2011-2015

Table 29: Russian Health Insurance-Number of Policies Sold (Million), 2015-2020

Table 30: Russian Health Insurance-Paid Claims (RUB Trillion and US$ Billion), 2011-2015

Table 31: Russian Health Insurance-Paid Claims (RUB Trillion and US$ Billion), 2015-2020

Table 32: Russian Travel Insurance-Direct Written Premium (RUB Million and US$ Million), 2011-2013

Table 33: Russian Travel Insurance-Number of Policies Sold (Thousand), 2011-2013

Table 34: Russian Travel Insurance-Paid Claims (RUB Million and US$), 2011-2015

Table 35: Russian Personal Accident and Health Insurance-Direct Written Premium by Distribution Channel (RUB Billion), 2011-2015

Table 36: Russian Personal Accident and Health Insurance-Direct Written Premium by Distribution Channel (RUB Billion), 2015-2020

Table 37: Russian Personal Accident and Health Insurance-Percentage of Direct Written Premium by Distribution Channel, 2011-2020

Table 38: Russian Personal Accident and Health Insurance Industry-Market Shares of Leading Insurers (%), 2015

Table 39: Sogaz-Med-Key Facts

Table 40: Rosno-MS-Key Facts

Table 41: MAKC-M-Key Facts

Table 42: Rosgosstrakh-Medicine-Key Facts

Table 43: Alfa Strakhovanie-CHI-Key Facts

Table 44: Russia-Insurance Regulatory Framework Key Features

Table 45: Russia-Life Insurance Regulatory Framework

Table 46: Russia-Property Insurance Regulatory Framework

Table 47: Russia-Motor Insurance Regulatory Framework

Table 48: Russia-Bonus-Malus System

Table 49: Russia-Liability Insurance Regulatory Framework

Table 50: Russia-Compensation Provided by the Insurer under Motor Liability Insurance

Table 51: Russia-Compensation Provided by the Insurer in the Event of Accident by Domestic Air Carriage

Table 52: Russia-Corporate Tax Rates for the Financial Year 2016

Table 53: Russian Personal Accident and Health Insurance Industry-Policies and Premium, 2011-2015

Table 54: Russian Personal Accident and Health Insurance Industry-Policies and Premium, 2015-2020

Table 55: Russian Personal Accident and Health Insurance-Claims and Expenses, 2011-2015

Table 56: Russian Personal Accident and Health Insurance-Claims and Expenses, 2015-2020

Table 57: Russian Personal Accident and Health Insurance-Assets, 2011-2015

Table 58: Russian Personal Accident and Health Insurance-Assets, 2015-2020

Table 59: Russian Personal Accident and Health Insurance-Direct Marketing and E-Commerce, 2011-2015

Table 60: Russian Personal Accident and Health Insurance-Direct Marketing and E-Commerce, 2015-2020

Table 61: Russian Personal Accident and Health Insurance-Insurance Brokers and Agencies, 2011-2015

Table 62: Russian Personal Accident and Health Insurance-Insurance Brokers and Agencies, 2015-2020

Table 63: Russian Personal Accident and Health Insurance-Insurance Brokers and Agencies, 2011-2015

Table 64: Russian Personal Accident and Health Insurance-Insurance Brokers and Agencies, 2015-2020

Table 65: Russian Personal Accident and Health Insurance-Personal Accident Insurance, 2011-2015

Table 66: Russian Personal Accident and Health Insurance-Personal Accident Insurance, 2015-2020

Table 67: Russian Personal Accident and Health Insurance-Health Insurance, 2011-2015

Table 68: Russian Personal Accident and Health Insurance-Health Insurance, 2015-2020

Table 69: Russian Personal Accident and Health Insurance-Health by Product, 2011-2015

Table 70: Russian Personal Accident and Health Insurance-Health by Product, 2015-2020

Table 71: Russian Personal Accident and Health Insurance-Travel Insurance, 2011-2015

Table 72: Insurance Industry Definitions

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Personal accident insurance, Health insurance, Travel insurance, Economy and Demographics, Distribution channels, Agencies, Insurance brokers, Direct marketing, Bancassurance, Leading companies, Legislation, Compulsory insurance, Supervision and control, Non-admitted insurance, Types of insurance organization

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