1. Market Research
  2. > Financial Services
  3. > Insurance Market Trends
  4. > India Insurance Report Q4 2016

India Insurance Report Q4 2016

  • September 2016
  • -
  • Business Monitor International
  • -
  • 55 pages

Includes 3 FREE quarterly updates


BMI View: India's insurance market is expected to record rapid growth over the course of our five-year forecast period of 2016-2020. While already a large market, the insurance sector is by no means mature and there remains significant scope for growth from a relatively low base, particularly in the less developed non-life market. India is home to a large population where household income rates are expected to increase steadily which indicates greater affordability for a range of products - though the focus will likely remain on basic motor, health and property lines. Growth in the life sector should also remain strong, especially in view of very strong data for new premiums for 2016/17; we now forecast growth in gross premiums written of 11.0% in local currency terms in 2016, ahead of growth remaining in (or close to) double digits throughout the forecast period.

Key Updates and Forecasts
- New business in the life sector during the first four months of fiscal year 2016/17 was very strong, with the country's Life Insurance Council revealing a 22.7% rise in new premiums. We forecast growth in gross premiums written of 11.0% in 2016, which would take premiums to INR4,176.8bn. In US dollar terms this translates into growth of 4.3%, taking gross premiums written to USD61.2bn.

Table Of Contents

India Insurance Report Q4 2016
BMI Industry View 5
Table: Headline Insurance Forecasts (India 2013-2020) 5
SWOT 7
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 14
Table: Non-Life Premiums (India 2013-2020) 17
Table: Non-Life Insurance Claims (India 2009-2015) 17
Non-Life Sub-Sector Forecast 18
Table: Non-Life Insurance Premiums by Product Line (India 2013-2020) 27
Insurance Risk/Reward Index 29
Asia Pacific Industry Risk/Reward Index 29
Table: Asia Pacific Insurance Risk/Reward Index Q416 30
Market Overview 31
Life Insurance Market Overview 31
The Product Offering 31
The Competitive Landscape 31
Table: India Life Insurance Market Share (USDmn) 2008-2014 33
Non-Life Insurance Market Overview 36
The Product Offering 36
The Competitive Landscape 36
Table: India Non-Life Insurance Market Share (USDmn), 2008-2014 38
Company Profile 40
ICICI Lombard GIC 40
Life Insurance Corporation of India 43
The New India Assurance Co 46
Methodology 49
Industry Forecast Methodology 49
Risk/Reward Index Methodology 52
Table: Indicators 54
Table: Weighting of Indicators 55

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 Ahmad

+1 718 618 4302

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 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 ...

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 ...


Download Unlimited Documents from Trusted Public Sources

General Insurance Statistics in the US and North America

  • September 2016
    107 pages
  • General Insuran...  

    Property Manage...  

  • North America  

    United States  

View report >

Life Insurance Industry in India

  • September 2016
    8 pages
  • Life Insurance  

  • India  

View report >

Insurance Markets in Australia - Forecast

  • September 2016
    4 pages
  • Insurance  

  • Australia  

    United States  

    Oceania  

View report >

Related Market Segments :

General Insurance
Insurance
Life Insurance

ref:plp2016

Reportlinker.com © Copyright 2016. All rights reserved.

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