The non-life insurance market in Russia saw expansion of almost 20 percent in 2012 reaching the volume of some USD47.673 billion.

Within a five-year’s timeframe, the market is expected to increase by more than half to USD75 billion, according to the analysts at Datamonitor. The largest part of the non-life

insurance market is property insurance, which comprises some 25.5 percent of the overall economic sector. The Russian non-life insurance industry accounts for only a 7.5-percent share of the corresponding European market. The dominant player on the Russian market is Rossgosstrakh, whose market percentage in 2012 was estimated at seven percent.