Hard times for insurers and brokers

The biggest loss may be incurred by brokers: the most pessimistic estimates, in 2009 80% of them will likely cease to exist as to optimize the costs insurers will be forced to move to direct sales. The number of insurance companies this year may be reduced by almost half. In Russia, according to the latest FISA, work 127 brokers and 814 insurance companies. Thus, the ratio of the number of insurance brokers to the number of insurance companies is 0,15. "For comparison: in developed countries the ratio is ten to one, - said deputy general director of broker Malakut Yuri Harazyan. - It is worth noting that only 200 insurance companies of all reported work, and about 100 are collected for about 90% of insurance premiums." As suggested by the UK CEO of Heritage "Dmitry Mukovnin, it is possible that 80% of insurance brokers and agents leave the market, including due to the fact that the state permit to work only with licensed brokers. According to Mr. Harazyana, consolidation, particularly through mergers among the large number of brokers and agents - is a normal process, which is inevitable, but it touches the top ten, which includes subsidiaries of international brokers and the largest Russian brokers: they would continue to operate as separate legal entities. However, according to Yuri Harazyana, a decrease of 80% - is greatly exaggerated. Head of the Federal Service for Insurance Supervision (FSIS) Ilya Lomakin-Rumyantsev said: "It's hard to say how much reduction in the number of brokers. Insurers use the services of subsidiaries of international reinsurance brokers, reducing the number of which is unlikely. Most likely we can talk about those brokers who are actually agents . Possible reduction in their number is not so terrible as a broker, received a license, must represent the interests of policyholders and not work for insurance companies. " Also, insurers are expected to reduce the number of competitors. So, two years ago in the registry FSIS including more than 1000 companies, and now their number has decreased by 20%. Moreover, if the first withdrawal of insurers from the market was predominantly associated with increased control, in times of crisis, he will continue primarily through mergers and acquisitions, including the top 20 and also due to ill-advised policies of some players in the background growth losses in some segments. According to executive vice president of Renaissance Insurance Sirma Gotovats a few years, the number of insurers may drop to 200-300. According to forecasts, Expert RA, fewer companies will double by 2010: the insurance market will be only 400-450 of insurance groups and companies. "Expert RA" expects that in 2009 the market is waiting for a series of bankruptcies of Russian insurers. The main risks of insurance companies in 2009 will be underdeveloped insurance reserves, a sharp increase in losses OSAGO, impairment of assets taken cover insurance reserves. Chairman of the Board of Directors of RCS Sergei Tsikalyuk notes that not all of the registered and licensed in the insurance business companies are active or simply operational. "In addition, one should pay tribute and led FSIS, who spent his time in the serious work in the market for its sweep of gray schemes, - added Mr. Tsikalyuk. - Many companies are shareholders of creating a growing market with a desire to become a leader. But Under these conditions, no major capital investments to press the first thirty leaders, which is already defined, is practically impossible. Hardly anyone is willing to take such a serious investment. " Forecasts to reduce the number of companies Ilya Lomakin-Rumyantsev said laconically: "We all come, and this thought alarmed."