In 1835 was created by an insurance company, "Life," which begins to deal with personal insurance, and in 1847 established an insurance company "Hope", which specialized in the field vehicle insurance. Also in 1847 the government abolished all the privileges granted to insurance companies. From this time on the change of state protectionism comes free competition between insurance companies. After the abolition of serfdom and a series of economic reforms was the development of Earthen insurance, held by local governments in rural areas. It accounted for about 17% of the total amount of insurance operations in the country. A major step in the formation of the Russian insurance market was the organization of mutual insurance companies, which have focused primarily on insurance against fire.
They accounted for about 7% of the insurance market. By the end of the xix century. in Russia more than 300 insurance companies, among which are dominated by local self insurance companies and mutual insurance companies. K1913, in Russia there is development of the insurance market, which was attended by virtually all types of insurance. The financial resources of insurance companies have become an important source of major investments. One of the main investment has been investing in real estate. Insurance companies have built or bought apartment buildings, which then lease the tenants. Available funds were placed not only in real estate, but also quickly sold assets – government bonds loans guaranteed by government bonds of state and private railways, the shares of stable commercial banks and other good and stock values, which, of course, strengthen the economy of the country.