THE CURRENT STAGE OF REINSURANCE DEVELOPMENT WITHIN FORMER-USSR TERRITORIES Dmitry GARMASH Deputy CEO Unity Re Ltd. AIIF | 4-5 July | 2012 | Baku.

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Presentation transcript:

THE CURRENT STAGE OF REINSURANCE DEVELOPMENT WITHIN FORMER-USSR TERRITORIES Dmitry GARMASH Deputy CEO Unity Re Ltd. AIIF | 4-5 July | 2012 | Baku

m EUR 2011 m EUR 2010Growth, % 1Russia ,18 2Ukraine ,85 3Kazakhstan ,88 4Belarus ,36 5Azerbaijan ,19 6Georgia* ,5 7Uzbekistan998122,78 8Moldova58539,7 9Turkmenistan464015,19 10Armenia ,56 11Tajikistan Kyrgyzstan*10743,35 Source: XPRIMM insurance report, 1/2012(6)* 3Q 2011 results Non-life insurance market development

Market players non-life Number Russia495 2Ukraine381 3Kazakhstan38 4Belarus19 5Azerbaijan28 6Georgia15 7Uzbekistan38 8Moldova21 9Turkmenistan1 10Armenia9 11Tajikistan16 12Kyrgyzstan18

Outward reinsurance non-life Insurance GWP Non-life, m EU 2011 Outward R/I Non-life, m EUR Russia Ukraine Kazakhstan Belarus2097 5Azerbaijan Georgia Uzbekistan9931 8Moldova5813 9Turkmenistan46- 10Armenia458 11Tajikistan20- 12Kyrgyzstan10-

Total non-life insurance premium 2011 ~33 billion EUR Average annual growth ~25% Total outward reinsurance 2011 ~3,1 billion EUR Just 2% of world reinsurance non-life premium Number of insurance players ~1 000 companies Split for classic/scheme insurance ~60/40 Absolute leading market – Russia Key market driving LOBs: motor + property + mandatory lines 5 Current market position

Market features No binding to international insurance cycle Descending pricing trend for 2000ths Stable and uniform group of international reinsurers Historically tight cooperation with Russian market Disproportional development of Fac and Treaty cover CAT-exposure but with underdeveloped modelling Differential legislative approach to market regulating

LOBPure international business, Million USD FSU interest, Million USD Property Energy15450 CAR/EAR20800 Marine Hull60150 Aviation hull50150 Domestic reinsurance capacity

Inward reinsurance GWP ‘000 RUR Ingosstrakh Sogaz Unity Re Kapital insurance Moscow Re Allianz VTB Insurance Kapital Re Soglasie Transsib Re FSU reinsurance leaders

S&PFitchS&PFitchAMBestMoody’s IngosstrakhBBB-GefestB+ Transsib ReB Unity ReBBB+ SCOR Perestrakhovanie ARussian Insurance Center B Belarus ReB- SogazBB+ / ruAA+B++ ACE InsuranceBBB- / AA+rusEurasiaBBB++ AlfastrakhovanieBB-LemmaB+ VTB InsuranceBBB-BelgosstrakhB- Moscow ReBBTransneftBBB- LexgarantBAmanat Insurance B Oil Insurance Co.B+Russian ReB+ International ratings

125047, Russian Federation, Moscow Gasheka street, 12 Tel.: Fax: Thank you!