RUSSIA: Bancassurance may drop by 10-12% at the end of the year

According to ExpertRA, Russia's largest credit rating agency, Bancassurance, despite impressive growth last year (+44.4%), may decline by 10-12% by the end of 2019, ASN reports with reference to the agency's research.

In 2018, the share of bancassurance in the market reached 47.2%, while the segment's concentration increased (TOP-3 insurers kept 50%, TOP-10 companies held 74%).

However, in 2019, according to the agency's forecast, Bancassurance may shrink by 10-12% due to the decline of its key driver - investment life insurance. The fall of investment life insurance followed the April 2019 introduction of new standards on disclosure of full information about insurance product to clients, as ExpertRA believes, at the end of 2019, the fall could reach 50%, writes ASN.

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