Russian Insurance Industry Gaining from Economic StabilityBy: Shushmul Maheshwari
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Russian Insurance Industry Gaining from Economic Stability
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Although the Russian insurance industry is fairly underdeveloped, it has immense growth potential and is poised to grow rapidly in coming years, said “Russian Insurance Industry Forecast to 2010”, a new research report from RNCOS. The value of the life insurance market is expected to grow at a CAGR of 4.6% during 2008-2011.
Many government initiatives such as opening insurance sector to foreign insurers and relatively stable economic environment in this tough time of economic downturn have not only given impetus to the insurance sector, but also encouraged people to invest in long-term products such as general insurance and life insurance in particular. Moreover, insurance companies will have to launch new products in the market to tap the rising demand. Amendments in tax regulations have reduced the size of non-risk-based products, making the market more transparent.
With the enactment of laws that mandate property insurance, the overall insurance market will certainly see an upward movement. At present, the Russian insurance market is fragmented and unstructured, with around 100 companies operating in it, most being very small and inadequately capitalized. However, the market will gradually stabilize on account of increasing trends of consolidation and regulatory developments.
“Russian Insurance Industry Forecast to 2010” provides broad overview of the Russian insurance industry and explores the market development and potential. The report also provides rational outlook and forecast on various segments of the industry, but they are not based on the complex economic model and instead give rough guide to the direction in which the market is likely to move.
The forecasts given in the report include per head disposable income, GDP per head, number of insurance companies, life and non-life insurance premium, aviation insurance premium, cargo insurance premium and reinsurance premium. The forecast enables clients to devise business strategy in accordance to the Russian insurance market.
For FREE SAMPLE of this report visit: http://www.rncos.com/Report/IM099.htm
Check DISCOUNTED REPORTS on: http://www.rncos.comhttp://www.rncos.com |
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| Keywords |
Russian Insurance Industry Forecast to 2010, Russian Insurance Industry, Insurance Industry in Russia, Market Research |
| Category |
Finance |
| Submission Date |
Jun 20, 2009 |
| Article Contact Name |
Shushmul Maheshwari || send email to Shushmul Maheshwari
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Other links at Finance |
| 1. |
Low Penetration to Drive Chinese Credit Card Market
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Chinese credit card market has grown at a rapid pace over the past few years on account of robust economic growth, rising income levels, growing middle class population and most importantly government initiatives. The total number of credit cards in circulation climbed to an estimated 150 Million by the end of 2008. Considering the current market turmoil, the credit card market in China is projected to grow at a CAGR of more than 28% by 2013, according to our new research report, “China Credit Card Market Outlook to 2013”.
However, the projected growth is almost half to the growth of more than 50% recorded during 2008 due to tight financial policies and job cuts. Despite this, low credit card penetration in China will be the major factor for future growth in credit cards, says the report. With over 1.3 Billion population base, credit card penetration stood at just over 11% at the end of 2008. In contrast, debit card penetration was clocked at over 100% with one people estimated to have more than one debit card. Huge gap between debit card and credit card penetration represents tremendous growth potential in the Chinese credit card market.
If we look at the credit card penetration at geographical level, most of the credit card usage is concentrated to the big cities like Shanghai and Beijing having majority of urban population. Semi-urban and rural areas still remain untapped, implying that the country offers immense opportunities to credit card players to exploit the untapped areas.
“China Credit Card Market Outlook to 2013” provides extensive research and rationale analysis on the credit card industry in China. The report thoroughly studies the current industry trends to facilitate clients to evaluate growth opportunities in credit card industry. Forecast in this research has been made considering the possible impact of recession on the industry. In this regard, the report will help clients to have proper insight of the current and the future outlook of credit cards market in China.
For FREE SAMPLE of this report visit: http://www.rncos.com/Report/IM002.htm
Check DISCOUNTED REPORTS on: http://www.rncos.com
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| 2. |
Turks to Swipe Credit Cards More than Debit Cards
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According to the recent research report “Turkey Banking Sector Forecast to 2012” by RNCOS, the increasing preference for cash-less transaction and availability of various card products will fuel the usage of financial cards in future in Turkey. Also, the rising tendency of credit repayment among consumers will drive the circulation of financial cards in coming years.
Credit cards will see a more favorable scenario in coming times. The rising circulation of credit cards will outpace the growth rate of debit cards in circulation during 2009-2012. The number of credit cards in circulation is anticipated to grow by around 11% as compared to just 4% in case of debit cards.
Like global trend, the debit and credit cards marked considerable annual increase in Turkey. The number of credit cards, which was 32.4 Million by the end of 2006, rose by 15.1% by the end of 2007 reaching 37.3 Million. The number of debit cards in the same period reached 55.5 Million with an increase of 3.7%. Due to the widespread use of debit and credit cards, the number of Point-of-Sale (POS) terminals and ATMs has been increasing continuously in recent years, says the report.
The analysis of the volume and value of debit card transactions shows a year-on-year increase in the use of debit cards. On the other hand, debit cards are mainly used for withdrawing cash rather than purchasing. Out of the 619.7 Million debit card transactions made in 2007, a huge 88.1% comprised cash withdrawal transactions.
“Turkey Banking Sector Forecast to 2012” is an extensive research that provides a detailed overview on the Turkish banking industry. This report underlines the factors responsible for the growth of the industry, market opportunities and challenges threatening the market growth.
This report provides segment-wise analysis, forecast, latest market trends, and future potential areas in the banking sector of Turkey. The extent of the information covered in the report will help the clients in understanding the market dynamics and position themselves accordingly in this highly lucrative sector.
For FREE SAMPLE of this report visit: http://www.rncos.com/Report/IM177.htm
Check DISCOUNTED REPORTS on: http://www.rncos.com
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| 3. |
Russian Insurance Industry Gaining from Economic Stability
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Although the Russian insurance industry is fairly underdeveloped, it has immense growth potential and is poised to grow rapidly in coming years, said “Russian Insurance Industry Forecast to 2010”, a new research report from RNCOS. The value of the life insurance market is expected to grow at a CAGR of 4.6% during 2008-2011.
Many government initiatives such as opening insurance sector to foreign insurers and relatively stable economic environment in this tough time of economic downturn have not only given impetus to the insurance sector, but also encouraged people to invest in long-term products such as general insurance and life insurance in particular. Moreover, insurance companies will have to launch new products in the market to tap the rising demand. Amendments in tax regulations have reduced the size of non-risk-based products, making the market more transparent.
With the enactment of laws that mandate property insurance, the overall insurance market will certainly see an upward movement. At present, the Russian insurance market is fragmented and unstructured, with around 100 companies operating in it, most being very small and inadequately capitalized. However, the market will gradually stabilize on account of increasing trends of consolidation and regulatory developments.
“Russian Insurance Industry Forecast to 2010” provides broad overview of the Russian insurance industry and explores the market development and potential. The report also provides rational outlook and forecast on various segments of the industry, but they are not based on the complex economic model and instead give rough guide to the direction in which the market is likely to move.
The forecasts given in the report include per head disposable income, GDP per head, number of insurance companies, life and non-life insurance premium, aviation insurance premium, cargo insurance premium and reinsurance premium. The forecast enables clients to devise business strategy in accordance to the Russian insurance market.
For FREE SAMPLE of this report visit: http://www.rncos.com/Report/IM099.htm
Check DISCOUNTED REPORTS on: http://www.rncos.com
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| 4. |
Philippine Banking Industry Outlook Positive Despite Recession
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The Philippine banking industry seems to be unaffected by the global financial crisis. And despite the liquidity crunch in various developed and emerging economies, the Philippine banking industry has been able to sustain the growth level.
According to a research analyst at RNCOS, “The banks in Philippines have benefitted from a series of reforms undertaken in past and intervention by the regulator to increase the capital base and to have better risk management strategies in place. The multipoint policy adopted by the industry during the last quarter of 2008 has resulted in minimum risk exposure to the banks in Philippines. Restricting dollar sales only for outward investment, enabling active lending between banks and low level of investments in foreign assets has resulted in positive outlook of the industry in current economic turbulence. Banks in Philippines have limited their investment in local blue chip companies because of the high yield from the Philippine Stock Exchange.”
Banks in Philippines are opting for high degree of penetration, mergers and acquisitions, and high credit growth rate at a time when banks in other developed and emerging economies are writing off assets base and slowing down credit disbursal rate. However, according to “Philippines Banking Sector Analysis”, a research report from RNCOS, the sector will manage to book a CAGR growth of 10% in its asset base through 2010.
“Philippines Banking Sector Analysis” contains comprehensive research and rational analysis on various segments, like assets size, income level and number of cardholders, in the Philippines banking industry. It also analyzes the current performance and growth opportunities in the sector, and helps clients to understand various products available in the market and their future scope. It also discusses the role of technology in the Filipino banking industry.
The report gives future outlook of different aspects of the banking industry such as financial cards, mobile banking, bancassurance, industry assets, mutual fund assets under management, number of credit cards, IT spending by banking industry, microfinance and life insurance product sales etc. The future projections are made after analyzing the current market scenario, past trends and regulations laid by the central bank.
For FREE SAMPLE of this report visit: http://www.rncos.com/Report/IM113.htm
Check DISCOUNTED REPORTS on: http://www.rncos.com
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| 5. |
Investment Products Insuring Chinese
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According to “Booming China Insurance Sector”, new research report from RNCOS, with the increasing acceptability of investment-oriented products on the back of rising income level, coupled with expected widening of investment channels, the life insurance premium income is projected to grow at a CAGR of about 25.5% in China during 2008-2012.
Life insurance sector in China will largely be driven by the investment-oriented life insurance products, i.e. the life insurance products which have higher component of investment compared to insurance counterparts. These insurance products, accounting for over three-fourth (79%) of total life insurance sales in China, will continue to occupy the majority of sales during the forecast period also, as these products offer tri-benefits of life risk cover, investment and tax saving facility in a single product.
Also, it is expected that the investment channels of insurance funds will widen to marketable securities such as bonds, stocks, funds and real estate in the near future. It would help insurers to expand business and reap profits while increasing capital supply to the real estate industry, which was squeezed by the credit crunch as the country's central bank stuck to its tight monetary policies to fight inflation. The current law only allows insurance funds to invest in government bonds and financial bonds.
“Booming China Insurance Sector” provides a comprehensive research and prudent analysis on the Chinese insurance market. This extensive research will help the clients to identify the market trends and evaluate the leading-edge opportunities critical to the success of the insurance market in the country. This study highlights the various forces propelling growth into the insurance industry, coupled with the factors hampering its growth.
This research supplements the past and current information on the China’s insurance market with forecast on various important industry aspects, including disposable income, Internet users, health spending, life expectancy, personal insurance, health insurance, property insurance with the possible sub-categories and reinsurance market.
For more information visit: http://www.rncos.com/Report/IM165.htm
Current Industry News: http://www.rncos.com/Blog/
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