A socially oriented non-financial development institution and a major organizer of international conventions, congress, exhibitions, business, social and sporting, public, and cultural events.

The Roscongress Foundation – a socially oriented non-financial development institution and a major organizer of international conventions, congress, exhibitions, business, social and sporting, public, and cultural events.

The Foundation was established in 2007 with the aim of facilitating the development of Russia’s economic potential, promoting its national interests, and strengthening the country’s image. One of the roles of the Foundation is to comprehensively evaluate, analyse, and cover issues on the Russian and global economic agendas. It also offers administrative services, provides promotional support for business projects and attracting investment, and helps foster social entrepreneurship and charitable initiatives.

Each year, the Foundation’s events draw participants from 208 countries and territories, with more than 15,000 media representatives working on-site at Roscongress’ various venues. The Foundation benefits from analytical and professional expertise provided by 5000 people working in Russia and abroad. In addition, it works in close cooperation with 131 economic partners; industrialists’ and entrepreneurs’ unions; and financial, trade, and business associations from 70 countries worldwide.

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Research
07.06.2018

Russian insurance market growth will accelerate

In 2018, the Russian insurance market will grow up by 10.5%. In the medium term, we expect the annual growth rate to accelerate to 11–14%. In our opinion, the insurance market will move ahead of the Russian economy as a whole continuing to outstrip the GDP growth rate by 4–8% (in 2017: by 1.7%).


In the life insurance segment, insurance premium growth rate will go down to 29%. After the boom of 2016–2017, when insurance premiums surged by more than 2.5 times, ACRA expects a significant correction in their growth rate. Our base scenario assumes that the interest to investment life insurance (ILI) will remain but, because the insurance premium is generally paid at the beginning of insurance period of 3–5 years, it will be impossible to maintain the growth rates. On the backdrop of the expected recovery in demand for cars, the auto hull segment may resume its growth in 2018. The segment’s dynamics is dominated largely by the downward trend in the average insurance premium that emerged in 2015. ACRA expects that the average insurance premium will cease to decline in 2018. The increasing number of insurance policies, in turn, will allow the auto insurance segment to show a significant growth (for the first time since 2014). OMTPL and health insurance reforms can significantly affect premiums in those segments.


Expected insurance market growth is positive for credit profiles of insurers, although in certain segments, certain risks may undermine the positive trend. However, the Russian insurance market is far behind most foreign markets, in terms of both insurance service penetration ratio and insurance premium per capita. Market growth potential is still high.


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