Life insurance policy (Part 1)
22 February 2008None from insurers has doubts, that life insurance market in Russia is very perspective. But for the present time accumulative life insurance, is unprofitable, as a rule, and unpopular for the same reason. Therefore insurers try to find novel ways on clients intake.
In the advanced countries life insurance accounts for more than 40 % of all insurance market. In Russia, according to Fitch, life insurance accounts for about 3 % of total premiums sum for 2006 and nine months of 2007. And the main part of the sold life insurance policies falls on corporate insurance. The share of “voluntary” retail insurance is even the less. Most experts estimate this part of the market approximately in $180-200 million, at a total volume of life insurance market for 9 months of 2007 in more than $700 million.
Nevertheless insurers agree that life insurance market is potentially very interesting segment with quite good prospects of development. “Today life insurance market is at the earliest stage of development, and its share in gross national product is very insignificant, approximately 0,05 %. However, we predict its growth by 30-40 % per year, and by 2012 it will reach € 2 billion”, - is sure the president of “ING Life insurance” Olga Ruf-Fidler.
- Life insurance policy (Part 2)
- Austrian Vienna Insurance Group has got the Polish life insurer FinLife
- Barclays sells Swiss Rе division on life insurance for 1,5 billion dollars
- Insurance risk-management in the countries with transitive economy (Part 2)
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