Once upon a time… SU IN ED R
In a month… $
In the insurance company… ED US F $ RE
In the court… $15 000
Result… Ø 24 months in prison ØFine of $24, 000
WTO: Killer of Russian Insurance ? Liudmila Agafonova Alexandra Bochkova Julia Vorobyeva International economic relationships faculty Moscow 2012
CONTENTS Ø Russian insurance market Ø Consequences of joining WTO Ø Forecast Liudmila Agafonova, Alexandra Bochkova, Julia Vorobyeva
RUSSIAN INSURANCE MARKET Pre-crisis level Liudmila Agafonova, Alexandra Bochkova, Julia Vorobyeva + 16%
INSURANCE MARKET DEVELOPMENT ØPoor development of infrastructure USA England Japan Russia ØRaw legal base ØLack of insurance product range Liudmila Agafonova, Alexandra Bochkova, Julia Vorobyeva
CLIENTS’ DISSATISFACTION payments collection 7, 000 claims Liudmila Agafonova, Alexandra Bochkova, Julia Vorobyeva
UNDERCAPITALISATION 56 % Liudmila Agafonova, Alexandra Bochkova, Julia Vorobyeva
Liudmila Agafonova, Alexandra Bochkova, Julia Vorobyeva
WTO Russian insurance market Liudmila Agafonova, Alexandra Bochkova, Julia Vorobyeva ?
FOREIGN INSURERS 95% 50% Before 5% Liudmila Agafonova, Alexandra Bochkova, Julia Vorobyeva After
RUSSIAN INSURANCE FUTURE Investment resourses abroad Ø No governmental control Ø Price dumping Ø World Financial market dependence Ø Ø No customer security Liudmila Agafonova, Alexandra Bochkova, Julia Vorobyeva
VOTING Joining WTO Bad ? Liudmila Agafonova, Alexandra Bochkova, Julia Vorobyeva
BENEFITS OF COOPERATION Ø foreign investments Ø new technologies Ø wide product range Ø competitive drive Liudmila Agafonova, Alexandra Bochkova, Julia Vorobyeva
PROTECTION OF SENSITIVE SPHERES GOVERNMENT Liudmila Agafonova, Alexandra Bochkova, Julia Vorobyeva
Fear of competition Liudmila Agafonova, Alexandra Bochkova, Julia Vorobyeva Equal opportunities
SHORT-TERM PREDICTION 100% + 12% 10 th place 0 20 th place Liudmila Agafonova, Alexandra Bochkova, Julia Vorobyeva
LONG-TERM PREDICTION Share of insurance 2, 5% 7, 1 % x 8 GDP Premiums 2011 x 2011 Liudmila Agafonova, Alexandra Bochkova, Julia Vorobyeva 2050 GDP 267 2050
CONCLUSION good Joining WTO Liudmila Agafonova, Alexandra Bochkova, Julia Vorobyeva bad
REFERENCES Ø http: //www. if-insurance. com Ø http: //www. rusbiznews. com/news/n 1161. html Liudmila Agafonova, Alexandra Bochkova, Julia Vorobyeva
Thank you for your attention Liudmila Agafonova, Alexandra Bochkova, Julia Vorobyeva