Address of the ARIA President to participants
of the 11th International Insurance Conference

Dear colleagues!

The year 2013 augurs dramatic changes in the Russian insurance market. The implementation of the plans to create a sole governmental control and regulation agency for financial markets will have a major impact on the structure of the business community and its place in the national policy, as regards the relations between the state, the business community and the general public. The once completed national insurance market development strategy until 2020 will be presented, along with a roadmap for its implementation; new laws and legislative acts, that are of paramount importance for the insurance market, are expected to take full effect.

Insurers persevere in their purposeful and practical work on the expansion and specification of the roadmap for the Insurance Development Strategy until 2020. New terms and new formats of their cooperation with the government will invariably affect this work, shaping its framework and purpose. Russian Insurance Summit 2013, taking place on June 5-6, 2013 in Moscow, is expected to become yet another important step in this joint work. Its chief focus this year has been summed up as “Mega-Regulator and the Insurance Development Concept – New Landmarks and Guidelines”.

I feel positive that discussion of the most pressing and urgent issues currently faced by the insurance sector will facilitate the rapprochement and harmonisation of the respective interests of insurers, the state and the general public. In the framework of the Summit special emphasis will be on problems related to third party liability car insurance, the type of insurance which will mark its first decennium. The Summit agenda includes planned discussions of the reform of the regulation and control mechanisms; of possible paths of self-regulation development, relations between the government and the insurance market; prospects of enhancing the relations with the markets of the APEC, SCO and the Customs Union co-member states; impact of the accession to the WTO on insurers’ current and long-term plans; possible guarantee mechanisms in regard of socially significant types of insurance, - all that in addition to a wide range of other issues of concern for insurers and those impacted by their work, which are crucial for the progress of the insurance market.

On behalf of the Russian Insurance Summit 2013 I invite all insurance market participants to take an active part in the discussion of the problems and challenges faced by the insurance market, as well as in the development of the proposals concerning their solution.

President of the All-Russian Insurance Association
Andrey Kigim

February 5, 2013