Final targets for developing Russian insurance market within a megaregion

The paper explores the trends for developing the insurance market in Russia within megaregional economic space. It reveals major problems of building the single insurance market in the EEU megaregion, specifying the considerable difference both in levels of the social and economic development and insurance legislation of the member-nations. The paper outlines the tasks which seek to be implemented for the purpose of building the single insurance market: harmonizing legislation of the parties, which would regulate the insurance activities, constructing the common system of insurance coverage as well as adjusting the insurance legislation of the parties to the requirements of international standards and practices of insurance control. The current research has enabled to identify the final targets of the Russian insurance market under conditions of international integration and reveal the competitive edge of insurance companies which is provided through consistent implementation of these requirements.