Released on: November 15, 2007, 12:50 am

Press Release Author: Shushmul Maheshwari

Industry: Financial

Press Release Summary: Matured regulatory framework, increasing personal disposable
income, and growing road accidents are likely to drive the non-life insurance market
in Russia during 2007-2009, as per the RNCOS report.

Press Release Body: The leading market research company RNCOS has recently launched
a comprehensive report “Booming Russian Insurance Sector (2007-2010)” on
the insurance industry of Russia. According to the report, the non-life insurance
market in Russia will overtake the life insurance sector in future. The Russian life
insurance market is anticipated to achieve a YOY growth of 5.2%-9.1% while the
non-life insurance market is predicted to grow at a CAGR of around 14% during
2007-2009.

During the past five years, the non-life insurance market in Russia has experienced
rapid growth and on account of the improving climate, it is anticipated to continue
this trend in future. Besides, the solid growth in this sector has also been led by
the introduction of an obligatory motor law (CMTPL) during 2003.

The research says that the biggest opportunity area for the Russian insurance market
in the upcoming ten years lies in insurance and mortgage, along with retail segments
that will experience incredible growth. Motor insurance has a wider coverage which
insures 75% of the imported cars, signifying that three among the four imported cars
are already insured. The report also points towards vast growth prospects of the
accidental insurance.

The study identifies the factors that are stimulating the Russian insurance industry
to grow, that include the rising automobile industry, increasing personal disposable
incomes, growing FDI, rising road accidents, high population growth, filliping the
CMPTL and growing urbanization of the population.

Furthermore, the report also marked the challenges faced by the Russian insurance
market which comprises of the insurance fraud, regulation of insurance in the
country, and poverty.

“Booming Russian Insurance Sector (2007-2010)” provides a keen insight
into the Russian insurance industry by evaluating the varied aspects of the
industry, such as driving factors, impact of government policies, key opportunities
and challenges, and future prospects, in order to provide a rational overview of the
insurance industry in Russia.

The predictions made in the research study are based on the relationship between
previous market growth and the base drivers, like personal disposable income, GDP
growth, increasing car market and health insurance, improved regulatory framework
and growth signs reflected by the accident insurance. The report also evaluates the
life and non-life insurance segment in Russia, whether in public or private
ownership.

About RNCOS:

RNCOS, incorporated in the year 2002, is an industry research firm. It has a team of
industry experts who analyze data collected from credible sources. They provide
industry insights and analysis that helps corporations to take timely and accurate
business decision in today\'s globally competitive environment.

For more information visit: http://www.rncos.com/Report/IM532.htm
Current Industry News: http://www.rncos.com/blog


Web Site: http://www.rncos.com

Contact Details: RNCOS E-Services Pvt Ltd.
Shushmul Maheshwari
Head of Business Development
29, 1st Floor, Patparganj Industrial Area, Delhi 92
91-11-4214-1229
info@rncos.com