Foreign insurers strengthen competition in Russia
Foreign companies are more actively study Russian insurance market. According to last data, from 11 new companies registered in the past to year, four companies are foreign.
Some “foreigners” in Russia create affiliated companies “from zero”, others – buy already known Russian companies with the developed agency and filial network. For example, last year two large transactions took place: German insurer Allianz has established the control above ROSNO, and group Zurich (Switzerland) has merged insurance company “Nasta”. Thus both companies – Zurich, and Allianz – work in Russia also under own brands. However, Russian insurance market has opened for the western companies already for a long time. Besides the named companies, “daughters” of many international insurance groups already work in Russia. These are such companies as AIG, ACE, AVIVA, ERGO, Fortis, ING, Czech insurance company and others. However, according to experts’ estimations, the quota, existing today in the Russian insurance market on a share of foreign capital participation (25 %) is not settled.
in Russian market Foreign insurance companies are interested, first of all, in life insurance.