Life Insurance in India, Key Trends and Opportunities to 2017
28 Jan, 2014 01:01 PM
 
Synopsis

The report provides industry analysis, information and insights into the Indian life insurance segment, including:

• Benchmarking analysis of the BRICS (Brazil, Russia, India, China and South Africa) countries

• The Indian life insurance segment's growth prospects by life insurance categories

• The various distribution channels in the Indian life insurance segment • The competitive landscape in the life insurance segment in India

• A description of the life reinsurance segment in India

• Detailed analysis of the regulatory framework in India

Summary

The Indian insurance industry is one of the fastest-growing in the Asia-Pacific region and is highly competitive with the presence of both public and private companies. The Indian life insurance segment recorded significant growth at a review-period (2008–2012) CAGR of 9.3%. This growth was driven by the rapid expansion of individual life and group superannuation products. The significant growth in the Indian life insurance segment in the review period can be attributed to key growth drivers such as the country's expanding population, robust economic growth, lucrative tax benefits, rising disposable income levels, and increased awareness of the need for insurance, especially among younger people.

Scope

This report provides a comprehensive analysis of the life insurance segment in India:

• It provides historical values for India's life insurance segment for the report's 2008–2012 review period and forecast figures for the 2012–2017 forecast period

• It offers a detailed analysis of the key sub-segments in India's life insurance segment, along with forecasts until 2017

• It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, frauds and crimes, total assets, total investment income and retentions

• It analyses the various distribution channels for life insurance products in India

• Using Porter's industry-standard "Five Forces" analysis, it details the competitive landscape in India for the life insurance business

• It provides a detailed analysis of the reinsurance segment in India and its growth prospects

• It profiles the top life insurance companies in India and outlines the key regulations affecting them

Reasons To Buy

• Make strategic business decisions using historic and forecast data related to the Indian life insurance segment and each category within it

• Understand the demand-side dynamics, key market trends and growth opportunities within the Indian life insurance segment

• Assess the competitive dynamics in the life insurance segment, along with the reinsurance segment

• Identify the growth opportunities and dynamics within key product categories

• Gain insights into key regulations governing the Indian life insurance segment and its impact on companies and future trends

Key Highlights

• The Indian insurance industry is one of the fastest-growing in the Asia-Pacific region and is highly competitive with the presence of both public and private companies.

• The increasing population, diverse product portfolios, a rise in disposable income, robust economic growth and rural area development contributed to the growth of the life segment during the review period.

• The demand for specific life insurance products has experienced significant growth over the review period. For instance, Indian customers are increasingly demanding insurance products that offer assured income through annuities

• The deregulation of the industry in 2000 and the authorization of foreign participation resulted in an increase in the number of life insurers from five in 2000 to 24 in 2012.

• The IRDA's proposal to increase the limit on foreign direct investment (FDI) from 26% to 49% will be a key growth driver for the life insurance segment.

• The top five private life insurance companies' cumulative market share stood at 86.3% in 2012.
 
Source : P R Newswire
http://www.sacbee.com/2014/01/27/6104957/life-insurance-in-india-key-trends.html
 



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