Released on: August 12, 2008, 3:04 am

Press Release Author: Shushmul Maheshwari

Industry: Financial

Press Release Summary: The Russian insurance industry is growing at a rapid pace on
account of rising disposable income, high demand for non-life insurance and motor
hull insurance for new cars.

Press Release Body: According to a new research report on the Russian insurance
industry by RNCOS, "Russian Insurance Industry Forecast to 2010", after witnessing
significant falls, the value of non-life insurance market in Russia is expected to
grow at an impressive CAGR of 16% during 2008-2011 on the back of rising income
level and increasing demand for motor insurance in the country.

The report finds that improving living standard in the country has pushed up the
growth in the Russian insurance market, which is mainly driven by the non-life
sector, especially motor insurance market. Cars and other upper class vehicles are
afforded by those people who have high disposable income and above average living
standard. As the per head disposable income in Russia surged at a CAGR of nearly
29.5% during 2002-2007, it is translating into high growth for the motor insurance
market.

Further, out of the motor insurance, motor hull (or motor own damage) insurance will
become the most popular in coming years because new credit opportunities have
expanded the market significantly, says the report. It is now mandatory to take
motor hull insurance when buying a car on credit. Despite these measures, the
non-life insurance sector is underdeveloped, with only 10% cars covered under hull
insurance. However, the motor hull insurance will grow at a rapid pace in the
country as the sales of passenger cars are estimated to surge at a CAGR of more than
18% during 2008-2010.

"Russian Insurance Industry Forecast to 2010" is a comprehensive study of the
re-emerging Russian insurance industry to analyze its growth in coming years. It
also includes thorough study of various insurance products like property, aviation,
motor hull and construction risk insurance to understand the future prospects of the
overall industry. The research highlights the industry dynamics to analyze the
opportunities, challenges and key growth factors.

The report further provides forecast on per head disposable income, number of
insurance companies, GDP per head, and life and non-life insurance premium. The
forecast will help the client to work out the business strategy for the Russian
insurance market.

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://rncos.com/Report/IM099.htm
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Web Site: http://www.rncos.com/

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