The Russian insurance market ended the year 2013 with a growth of 11.84% in gross written premiums at 904.8 billion RUB (27.6 billion USD). This dynamism is in contrast with the evolution of most European markets, but is well below the 20% growth reported in the previous years. According to some analysts, this unsatisfactory result could force many insurers to withdraw from the market.
Russian unfavorable economic situation had a negative impact on fire insurance of industrial risks and on property damage motor insurance. Only life (+145 % in the second half of 2013), fire household risks (+22 % in the second half of 2013), accidents (+24 % in the second half of 2013) have managed to get by. Great hopes lie in the development of personal accident insurance.