Analysis of the prospects of the Russian insurance market in the current economic and institutional environment

This article presents a comprehensive analysis of the dynamics of the Russian insurance market, which is an important part of the country’s financial system and plays a significant role in maintaining its macroeconomic stability. Due to increasing regulatory pressure, the industry faces serious challenges that affect the strategic directions of insurance companies and change consumer expectations for insurance products. Therefore, it is crucial to study the factors that determine the reorientation of insurance companies’ product policies towards more flexible, adaptable, and investment-focused solutions in order to maintain competitiveness in a rapidly changing market.. The study identified several key trends in the insurance market, including steady annual growth in total insurance premiums, the consolidation of market participants leading to a reduction in the number of insurance companies, and increasing differentiation by sector with the active development of voluntary health and car insurance, while reducing the volume of credit and accident insurance. Based on this analysis, it can be concluded that the stability of insurance companies is not determined by the size of their operations, but rather by their ability to adapt to changing conditions and offer products that meet the needs of customers. The further development of the insurance market in Russia will depend on the ability of market participants to effectively manage risks, respond to external challenges, and provide balanced insurance solutions that meet the needs of both customers and the new economic realities.