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Russian reinsurance market: actual development & opportunities. Dmitry GARMASH Deputy CEO, Ph.D., MBA Unity Re Ltd. Insurance market dynamics, bln RUR. 2012 direct GWP = 27 bln USD; 2012 reinsurance GWP = 1,4 bln USD. Inward reinsurance, bln RUR. Outward reinsurance, bln RUR.
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Russian reinsurance market: actual development & opportunities Dmitry GARMASHDeputy CEO, Ph.D., MBAUnity Re Ltd.
Insurance market dynamics, bln RUR • 2012 direct GWP = 27 bln USD; • 2012 reinsurance GWP = 1,4 bln USD
Actual trends • Average non-life markets growth CIS-wide – 25% • Inward reinsurance market – 2012 is the 1st year of growing! • Complete move to the market oligopolistic structure:3-4 genuine reinsurers + 7-8 direct insurance players in R/I • Number of peers has been squeezed much after 2009 • Market consolidation significant quality & expertise upgrade • No binding to a world insurance cycle locally! • Still huge difference between Gross & Net capacity 10
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