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Russian reinsurance market: actual development &
opportunitiesDmitry GARMASH Deputy CEO, Ph.D., MBA Unity Re
Ltd.
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Insurance market dynamics, bln RUR2012 direct GWP = 27 bln USD;
2012 reinsurance GWP = 1,4 bln USD
1
35014110010
4071628017
4792016316
5522495417
5142854315
5562933512
6653043514
8093694214
Insurance GWP
Insurance paid losses
Reinsurance GWP
Reinsurance paid losses
Sheet1
20052006200720082009201020112012
Insurance GWP350407479552514556665809
Insurance paid losses141162201249285293304369
Reinsurance GWP10080635443353542
Reinsurance paid losses1017161715121414
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Inward reinsurance, bln RUR
1
89102003
94142004
101112005
8017-20.8
6316-21.3
5417-14.3
4315-20.4
3512-18.6
35140
421420
GWP
Paid losses
Growth
Sheet1
2003200420052006200720082009201020112012
GWP899410180635443353542
Paid losses10141117161715121414
Growth-20.8-21.3-14.3-20.4-18.6020
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Outward reinsurance, bln RUR
1
97.3
86.7
98
112
Premiums ceded to reinsurance
Sheet1
2009201020112012
Premiums ceded to reinsurance97.386.798112
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Market players
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Business from outside Russia
1
100.65.35.3
80.95.26.4
63.46.710.6
53.98.415.5
4310.123.5
34.79.126.2
351028.6
421126
Reinsurance GWP, bln RUR
GWP from outside Russia, bln RUR
Share, %
Sheet1
20052006200720082009201020112012
Reinsurance GWP, bln RUR100.680.963.453.94334.73542
GWP from outside Russia, bln RUR5.35.26.78.410.19.11011
Share, %5.36.410.615.523.526.228.626
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Market players
20122011Total reinsurance players114140GWP > 3m USD5556GWP
> 16m USD29 (80% GWP)23 (68%)GWP > 33m USD11 (50%)6 (31%)
Top 326%21%Top 1048%42%Top 4090%86%
Share of genuine reinsurers25%25%
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Top-10 reinsurers
CompanyGWP2012000 RURGWP2012m USD
1Sogaz4 448 659148,32Ingosstrakh3 933 764131,13Kapital
Insurance2 812 06893,74Unity Re1 548 22351,65Rosgosstrakh1 458
80448,66Moscow Re1 284 54342,87ACE Insurance Co.1 213
26840,48Kapital Re1 006 04833,59SCOR951 63831,710Kama Re706
66423,5
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Top-10 genuine reinsurers
CompanyGWP2012000 RURGWP2012USD1Unity Re1 548 22351,62Moscow Re1
284 54342,83Kapital Re1 006 04833,54SCOR951 63831,75Kama Re706
66423,56Transsib Re700 83123,47Russian Re574 39419,18Rosles Re429
61614,39Profile Re214 77671,610Express Re83 0512,7
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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/INumber of peers has been squeezed much
after 2009Market consolidation significant quality & expertise
upgradeNo binding to a world insurance cycle locally!Still huge
difference between Gross & Net capacity*Actual trends
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Capacity available
LOBsNet capacitym USDGross capacitym USDProperty501
500Energy30500CAR/EAR501 500Marine hull30250Aviation20500
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Thanks!
Unity Re Ltd.
T:+7 495 956 6589F:+7 495 956
6598E:[email protected]:www.unityre.ru
