1. Market Research
  2. > Financial Services
  3. > Insurance Market Trends
  4. > India Insurance Report Q3 2016

India Insurance Report Q3 2016

  • June 2016
  • -
  • Business Monitor International
  • -
  • 53 pages

Includes 3 FREE quarterly updates

BMI View: India's insurance market is expected to record rapid growth over the course of our five yearforecast period of 2016-2020. While already a large market, the insurance sector is by no means matureand there remains significant scope for growth from a relatively low base, particularly in the less developednon-life market. India is home to a large population where household income rates are expected to increasesteadily which indicates greater affordability for a range of products - though the focus will likely remainon basic motor, health and property lines. Relaxation of the stringent rules governing foreign investment inthe insurance sector will likely attract more multinationals to the market, enhancing the range of productsavailable and we expect to see healthy growth in life and non-life insurance moving forward.

Key Updates and Forecasts

- Several insurance providers are developing their bancassurance networks in order to improve penetrationrates. Future Generali India Insurance Company Limited (FGII), for example, has establishedpartnerships with ten small and medium size banks in Kolhapur and Sangli districts with a focus onagricultural insurance. FGII expects to see 30% growth in rural and micro-insurance products over theyear.

- India appears set for its first life insurance firm initial public offering (IPO) after Housing DevelopmentFinance Corp announced it would offer a stake in life insurer HDFC (a joint venture with Standard

Table Of Contents

India Insurance Report Q3 2016
BMI Industry View 5
Table: Headline Insurance Forecasts (India 2013-2020) 5
Insurance 7
Industry Forecast 9
Life Premiums Forecast 9
Table: Life Premiums (India 2013-2020) 12
Table: Life Insurance Claims (India 2008-2014) 13
Non-Life Premiums Forecast 13
Table: Non-Life Premiums (India 2013-2020) 16
Table: Non-Life Insurance Claims (India 2009-2014) 16
Non-Life Sub-Sector Forecast 17
Table: Non-Life Insurance Premiums by Product Line (India 2013-2020) 26
Insurance Risk/Reward Index 28
Asia Pacific Industry Risk/Reward Index 28
Table: Asia Pacific Insurance Risk/Reward Index Q316 29
Market Overview 30
Life Insurance Market Overview 30
The Product Offering 30
The Competitive Landscape 30
Table: India Life Insurance Market Share (USDmn) 2008-2014 32
Non-Life Insurance Market Overview 34
The Product Offering 34
The Competitive Landscape 34
Table: India Non-Life Insurance Market Share (USDmn), 2008-2014 36
Company Profile 38
ICICI Lombard GIC 38
Life Insurance Corporation of India 41
The New India Assurance Co 44
Methodology 47
Industry Forecast Methodology 47
Risk/Reward Index Methodology 50
Table: Indicators 52
Table: Weighting of Indicators 53

View This Report »

Get Industry Insights. Simply.

  • Latest reports & slideshows with insights from top research analysts
  • 24 Million searchable statistics with tables, figures & datasets
  • More than 10,000 trusted sources
24/7 Customer Support

Talk to Veronica

+1 718 514 2762

Purchase Reports From Reputable Market Research Publishers
Commercial Non-Life Insurance Brokers in Europe

Commercial Non-Life Insurance Brokers in Europe

  • $ 10 000
  • Industry report
  • August 2016
  • by Finaccord

Finaccord’s report titled Commercial Non-Life Insurance Brokers in Europe, plus the BrokerBASE™ and market data annexe that accompany it, investigate the importance of brokers in the distribution of ...

UK Personal Insurance Distribution: Banks and Retailers

UK Personal Insurance Distribution: Banks and Retailers

  • $ 3 450
  • Industry report
  • June 2016
  • by Verdict Financial

Summary An affinity scheme is a partnership in which an insurer underwrites insurance to be distributed via another company whose primary product or service is not insurance. This includes banks and retailers ...

UK Travel Insurance: Market Dynamics and Opportunities 2016

UK Travel Insurance: Market Dynamics and Opportunities 2016

  • $ 3 450
  • Industry report
  • August 2016
  • by Verdict Financial

Summary The UK travel insurance market declined by 12.3% to £625.4m in gross written premium (GWP) in 2015. This is a result of fewer policies being written, in addition to rates that have been prevented ...


Reportlinker.com © Copyright 2016. All rights reserved.

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