1. Market Research
  2. > Financial Services
  3. > Insurance Market Trends

Asia-Pacific Insurance Market Outlook to 2016 - Growth Opportunity in India & China

  • April 2013
  • 478 pages
  • Ken Research Private Limited
Report ID: 1171805

Summary

Table of Contents

EXECUTIVE SUMMARY

The report titled “Asia-Pacific Insurance Market Outlook to 2016 - Growth Opportunity in India and China” provides a comprehensive analysis of market size of the insurance industry on the basis of countries such as Japan, China, South Korea, Taiwan, India and Australia, market segmentation of life and non life insurance industry. The report also entails the value chain of Asia-Pacific insurance market. The report also provides competitive landscape and profile of major players operating in the insurance industry.
The future projections included to provide an overview of the prospects and expected growth drivers in the Asia-Pacific insurance industry.

Asia-Pacific
The insurance industry is one of the potential industries in the emerging markets of Asia-Pacific region such as China, India, Thailand, Taiwan, Malaysia and others. The rising personal disposable income due to improving economic conditions which has encouraged the insurance players to divert their attention in the growing market of Asia-Pacific region. In addition, China and India have ongoing infrastructure projects with massive amount of investment which will contribute to new business development in the line of property and commercial insurance.
Over the coming years, the direct written premium of insurance in Asia-Pacific region is projected to rise at a CAGR of 11.2% in the next four years due to rising population in the market of India and China

Japan
Japan insurance industry is the second largest market in the world after the US. The country’s insurance market has increased at a CAGR of 10.4% from FY’2005-FY’2012 with the direct written premium of USD ~ million in FY’2012 in comparison to USD 312,983.5 million in FY’2005. The growth has been influenced by an incline in the number of insured person, strong growth in the sales of saving type products in major life insurance companies, rise in asset formulation and the limitation of domestic investment opportunities which has led the Japanese insurance players to look outward for investments. The insurance companies in Japan have experienced an increase of ~% in assets to JPY ~ million in FY’2012 in comparison to JPY ~ million in FY’2011 due to surge in unrealized capital gains which has inclined the value of investment assets

China
The Chinese insurance industry has seen rapid expansion during 2005-2012 and will continue to see high growth rates in the next few years. The insurance market in the country has witnessed a compound annual growth rate of 22.2% in the last seven years and has recorded direct written premium of USD ~ million in 2012. The growth in the insurance industry is influenced by the fast growing economy coupled with the largest population in the world, surging personal disposable income and continuous economic system reforms in the country.

South Korea
The South Korean insurance market is one of the largest insurance industries in the world. The insurance market in the country has experienced a growth of ~% from USD ~ million in FY’2010 to USD ~ million in FY’2011. The growth in the market is due to the regulatory development, government support, economic growth and rising income level to become the 8th largest insurance market globally in terms of direct written premium.

Taiwan
Taiwan is the second largest market in the Asia-Pacific region after Japan in terms of highest insurance densities. The country insurance industry has a high penetration rate of ~% but there is a huge difference between the penetration rate of life insurance and non life insurance. The penetration rate of life insurance market is ~% in comparison to ~% of the general insurance industry in 2011. The key reasons behind the difference in the penetration rate is the decreasing investment by the domestic consumers in automobiles and the occurrence of natural disaster have restricted the growth of the non life insurance business. The country insurance market is growing stably and has registered direct written premium of USD ~ million in 2011.

India
The insurance sector in India has been open up for the foreign direct investment some 12 years ago. In India, the foreign direct investment is restricted to 26% and is expected to increase to 49% in 2013. In September 2012, there are ~ insurance companies operating in India of which 24 are in life insurance business and ~are non life insurance players while GIC is the sole national reinsurer. In the present scenario, ~ out of ~ life insurance companies and ~ out of ~ general insurance players have foreign partners. The contribution of foreign players is expected to increase in the coming years with an incline in the foreign direct investment.

Australia
The insurance market of Australia has experienced decline in the growth rate from ~% in FY’2011 to ~% in FY’2012 on account of the decrease in the direct written premium of the life insurance industry on account of reduction in the sales of investment linked products. The industry has also experienced the decline in the solvency margin ratio from ~% in 2009 to ~% in 2012 primarily due to an increased frequency of natural catastrophe. The solvency margin ratio is an important indicator which is used to judge whether an insurance company has enough cash surplus in order to pay claims to policyholders as scheduled.

KEY TOPICS COVERED IN THE REPORT

- The market size of the Asia-Pacific insurance Industry and its segments such as life and non-life, 2005-2012P
- The market size of the insurance market in the six countries such as Japan, China, South Korea, Taiwan, India and Australia, 2005-2012P
- Market segmentation of life and non-life insurance markets in the six countries such as Japan, China, South Korea, Taiwan, India and Australia, 2005-2012P
- Value chain of Asia-Pacific insurance market
- Trends and Development of the Asia-Pacific insurance industry.
- Competitive landscape of the major players of life and non-life insurance markets in the six countries such as Japan, China, South Korea, Taiwan, India and Australia
- Future outlook and projections of the Asia-Pacific and six countries
- Future outlook and projections of life and non-life insurance in six countries

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 60 Million searchable statistics with tables, figures & datasets
  • More than 25,000 trusted sources
  • Single User License — provides access to the report by one individual.
  • Department License — allows you to share the report with up to 5 users
  • Site License — allows the report to be shared amongst all employees in a defined country
  • Corporate License — allows for complete access, globally.

Ahmad helps you find the right report:

Testimonials

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

We were impressed with the support that ReportLinker’s research specialists’ team provided. The report we purchased was useful and provided exactly what we want.

Category Manager at
Ikea

ReportLinker gave access to reliable and useful data while avoiding dispersing resources and spending too much time on unnecessary research.

Executive Director at
PwC Advisory

The customer service was fast, responsive, and 100% professional in all my dealings (...) If we have more research needs, I'll certainly prioritize working with ReportLinker!

Scott Griffith

Vice President Marketing at
Maurice Sporting Goods

The research specialist provided prompt, helpful instructions for accessing ReportLinker's product. He also followed up to make sure everything went smoothly and to ensure an easy transition to the next stage of my research

Jessica P Huffman

Research Associate at
American Transportation Research Institute

Excellent customer service. Very responsive and fast.

Director, Corporate Strategy at
Ingredion

I reached out to ReportLinker for a detailed market study on the Air Treatment industry. The quality of the report, the research specialist’s willingness to solve my queries exceeded my expectations. I would definitely recommend ReportLinker for in-depth industry information.

Mariana Mendoza

Global Platform Senior Manager at
Whirlpool Corporation

Thanks! I like what you've provided and will certainly come back if I need to do further research works.

Bee Hin Png

CEO at
LDR Pte Ltd

The research specialist advised us on the best content for our needs and provided a great report and follow-up, thanks very much we shall look at ReportLinker in the future.

Kate Merrick

Global Marketing Manager at
Eurotherm by Schneider Electric

Purchase Reports From Reputable Market Research Publishers

UK Commercial Insurance Distribution 2017

  • $ 5250
  • Industry report
  • May 2017
  • by GlobalData

UK Commercial Insurance Distribution 2017 Summary "UK Commercial Insurance Distribution 2017", report provides an in-depth study into the trends of commercial insurance distribution. The report discusses ...

US Employer-Sponsored Private Health Insurance Exchange, Forecast to 2020

  • $ 4950
  • Industry report
  • February 2017
  • by Frost & Sullivan

US Employer-Sponsored Private Health Insurance Exchange, Forecast to 2020 Private health insurance exchanges can be broadly defined as online gateways to health insurance, designed to provide single o ...

Property Insurance in Emerging Asia

  • $ 3800
  • Industry report
  • May 2017
  • by Timetric

Synopsis Timetric’s 'Insight Report: Property Insurance in Emerging Asia' analyzes the rapidly growing economies in Emerging Asia, and identifies opportunities in the midst of economic growth and low ...

Uk Insurance Aggregators 2017

April 2017 $ 3450

Uk Cyber Insurance 2017

March 2017 $ 3450

Download Unlimited Documents from Trusted Public Sources

Insurance Industry in the US - Forecast

  • June 2017
    6 pages
  • Insurance  

    Reinsurance  

  • United States  

    Luxembourg  

    United Kingdom  

View report >

The future of the Insurance Industry in the US

  • June 2017
    15 pages
  • Insurance  

  • United States  

View report >

Insurance Industry in Philippines and the US - Forecast

  • June 2017
    8 pages
  • Philippines  

    United States  

    Asia  

View report >

Related Market Segments :

Insurance
General Insurance

ref:plp2013

Reportlinker.com © Copyright 2017. All rights reserved.

ReportLinker simplifies how Analysts and Decision Makers get industry data for their business.