Current state of the insurance market in the Russian Federation

The insurance market depends on the general state of the financial market, and after the introduction of financial sanctions by Western countries against the Russian Federation, there is a significant increase in financial risks. A developed insurance market allows minimizing the risks that accompany both the life of a person (individuals) and the financial and economic activities of companies (legal entities). Therefore, the stable functioning and development of the insurance market is, to a certain extent, a guarantee of the stability of the functioning of the entire socio-economic sphere of the state. This question is raised in this article.