Liability Risk and Insurance
Russian insurance sector
An overview of the Russian insurance sector in
Banking and Finance
of 2 November 2000 shows a 129% increase in premiums collected from 1998 to 1999 to R100bn, of which only 22% applies to mandatory
cover. However, insurance takeup is still well below that of other developed countries, standing at 25% GDP against the more
typical 8% to 10%.