TABLE OF CONTENTS
Introduction 11
What is this report about? 11
Who is the target reader? 11
Market Definition 11
TOP 5 EMERGING COUNTRIES INSURANCE INDUSTRY OUTLOOK 12
INSURANCE IN BRAZIL 18
MARKET OVERVIEW 18
MARKET VALUE 19
MARKET SEGMENTATION I 20
MARKET SEGMENTATION II 21
FIVE FORCES ANALYSIS 22
LEADING COMPANIES 32
MARKET FORECASTS 53
MACROECONOMIC INDICATORS 55
INSURANCE IN CHINA 57
MARKET OVERVIEW 57
MARKET VALUE 58
MARKET SEGMENTATION I 59
MARKET SEGMENTATION II 60
FIVE FORCES ANALYSIS 61
LEADING COMPANIES 71
MARKET FORECASTS 88
MACROECONOMIC INDICATORS 90
INSURANCE IN INDIA 92
MARKET OVERVIEW 92
MARKET VALUE 93
MARKET SEGMENTATION I 94
MARKET SEGMENTATION II 95
FIVE FORCES ANALYSIS 96
LEADING COMPANIES 106
MARKET FORECASTS 124
MACROECONOMIC INDICATORS 126
INSURANCE IN MEXICO 128
MARKET OVERVIEW 128
MARKET VALUE 129
MARKET SEGMENTATION I 130
MARKET SEGMENTATION II 131
FIVE FORCES ANALYSIS 132
LEADING COMPANIES 141
MARKET FORECASTS 156
MACROECONOMIC INDICATORS 158
INSURANCE IN SOUTH AFRICA 160
MARKET OVERVIEW 160
MARKET VALUE 161
MARKET SEGMENTATION I 162
FIVE FORCES ANALYSIS 163
LEADING COMPANIES 173
MARKET FORECASTS 192
MACROECONOMIC INDICATORS 194
APPENDIX 196
Data Research Methodology 196
About Datamonitor 197
Disclaimer 197
LIST OF TABLES
Table 1: Top 5 emerging countries insurance market , revenue ($m), 2005–14 13
Table 2: Top 5 emerging countries insurance market , revenue ($m), 2005–09 15
Table 3: Top 5 emerging countries insurance market projection , revenue ($m), 2009–14 17
Table 4: Brazil insurance industry value: USD million, 2005–09 19
Table 5: Brazil insurance industry sector ation I:% share, by value, 2009 20
Table 6: Brazil insurance industry sector ation II: % share, by value, 2009 21
Table 7: Allianz AG: key facts 32
Table 8: Allianz AG: key financials ($) 37
Table 9: Allianz AG: key financials (€) 37
Table 10: Allianz AG: key financial ratios 38
Table 11: Banco Bradesco: key facts 40
Table 12: Banco Bradesco: key financials ($) 43
Table 13: Banco Bradesco: key financials (BRL) 43
Table 14: Banco Bradesco: key financial ratios 44
Table 15: Itau Unibanco Holding S.A.: key facts 46
Table 16: Itau Unibanco Holding S.A.: key financials ($) 50
Table 17: Itau Unibanco Holding S.A.: key financials (BRL) 50
Table 18: Itau Unibanco Holding S.A.: key financial ratios 51
Table 19: Brazil insurance industry value projection : USD million, 2009–14 53
Table 20: Brazil size of population (million), 2005–09 55
Table 21: Brazil Gross Domestic Product (constant 2000 prices, USD billion), 2005–09 55
Table 22: Brazil Gross Domestic Product (current prices, USD billion), 2005–09 55
Table 23: Brazil inflation, 2005–09 56
Table 24: Brazil consumer price index (absolute), 2005–09 56
Table 25: Brazil exchange rate, 2005–09 56
Table 26: China insurance industry value: USD billion, 2005–09 58
Table 27: China insurance industry sector ation I:% share, by value, 2009 59
Table 28: China insurance industry sector ation II: % share, by value, 2009 60
Table 29: Cathay Life Insurance Co., Ltd.: key facts 71
Table 30: China Life Insurance Firms Limited: key facts 74
Table 31: China Life Insurance Firms Limited: key financials ($) 76
Table 32: China Life Insurance Firms Limited: key financials (CNY) 76
Table 33: China Life Insurance Firms Limited: key financial ratios 77
Table 34: PICC Property and Casualty Firms Limited: key facts 79
Table 35: PICC Property and Casualty Firms Limited: key financials ($) 80
Table 36: PICC Property and Casualty Firms Limited: key financials (CNY) 80
Table 37: PICC Property and Casualty Firms Limited: key financial ratios 81
Table 38: Ping An Insurance (Group) Firms of China, Ltd.: key facts 83
Table 39: Ping An Insurance (Group) Firms of China, Ltd.: key financials ($) 84
Table 40: Ping An Insurance (Group) Firms of China, Ltd.: key financials (CNY) 85
Table 41: Ping An Insurance (Group) Firms of China, Ltd.: key financial ratios 85
Table 42: China insurance industry value projection : USD billion, 2009–14 88
Table 43: China size of population (million), 2005–09 90
Table 44: China Gross Domestic Product (constant 2000 prices, USD billion), 2005–09 90
Table 45: China Gross Domestic Product (current prices, USD billion), 2005–09 90
Table 46: China inflation, 2005–09 91
Table 47: China consumer price index (absolute), 2005–09 91
Table 48: China exchange rate, 2005–09 91
Table 49: India insurance industry value: USD million, 2005–09 93
Table 50: India insurance industry sector ation I:% share, by value, 2009 94
Table 51: India insurance industry sector ation II: % share, by value, 2009 95
Table 52: Allianz AG: key facts 106
Table 53: Allianz AG: key financials ($) 111
Table 54: Allianz AG: key financials (€) 111
Table 55: Allianz AG: key financial ratios 112
Table 56: Aditya Birla Nuvo Limited: key facts 114
Table 57: Aditya Birla Nuvo Limited: key financials ($) 115
Table 58: Aditya Birla Nuvo Limited: key financials (Rs.) 115
Table 59: Aditya Birla Nuvo Limited: key financial ratios 116
Table 60: Prudential plc: key facts 118
Table 61: Prudential plc: key financials ($) 120
Table 62: Prudential plc: key financials (£) 121
Table 63: Prudential plc: key financial ratios 121
Table 64: India insurance industry value projection : USD million, 2009–14 124
Table 65: India size of population (million), 2005–09 126
Table 66: India Gross Domestic Product (constant 2000 prices, USD billion), 2005–09 126
Table 67: India Gross Domestic Product (current prices, USD billion), 2005–09 126
Table 68: India inflation, 2005–09 127
Table 69: India consumer price index (absolute), 2005–09 127
Table 70: India exchange rate, 2005–09 127
Table 71: Mexico insurance industry value: USD million, 2005–09 129
Table 72: Mexico insurance industry sector ation I:% share, by value, 2009 130
Table 73: Mexico insurance industry sector ation II: % share, by value, 2009 131
Table 74: ING Groep N.V.: key facts 141
Table 75: ING Groep N.V.: key financials ($) 144
Table 76: ING Groep N.V.: key financials (€) 144
Table 77: ING Groep N.V.: key financial ratios 145
Table 78: MetLife Inc: key facts 147
Table 79: MetLife Inc: key financials ($) 149
Table 80: MetLife Inc: key financial ratios 149
Table 81: Grupo Financiero Banorte SA de CV: key facts 152
Table 82: Grupo Financiero Banorte SA de CV: key financials ($) 153
Table 83: Grupo Financiero Banorte SA de CV: key financials () 153
Table 84: Grupo Financiero Banorte SA de CV: key financial ratios 154
Table 85: Mexico insurance industry value projection : USD million, 2009–14 156
Table 86: Mexico size of population (million), 2005–09 158
Table 87: Mexico Gross Domestic Product (constant 2000 prices, USD billion), 2005–09 158
Table 88: Mexico Gross Domestic Product (current prices, USD billion), 2005–09 158
Table 89: Mexico inflation, 2005–09 159
Table 90: Mexico consumer price index (absolute), 2005–09 159
Table 91: Mexico exchange rate, 2005–09 159
Table 92: South Africa insurance industry value: USD million, 2005–09 161
Table 93: South Africa insurance industry sector ation I:% share, by value, 2009 162
Table 94: Allianz AG: key facts 173
Table 95: Allianz AG: key financials ($) 178
Table 96: Allianz AG: key financials (€) 178
Table 97: Allianz AG: key financial ratios 179
Table 98: Liberty Holdings Limited: key facts 181
Table 99: Liberty Holdings Limited: key financials ($) 183
Table 100: Liberty Holdings Limited: key financials (ZAR) 183
Table 101: Liberty Holdings Limited: key financial ratios 184
Table 102: Sanlam Limited: key facts 186
Table 103: Old Mutual: key facts 188
Table 104: Old Mutual: key financials ($) 190
Table 105: Old Mutual: key financials (£) 190
Table 106: Old Mutual: key financial ratios 191
Table 107: South Africa insurance industry value projection : USD million, 2009–14 192
Table 108: South Africa size of population (million), 2005–09 194
Table 109: South Africa Gross Domestic Product (constant 2000 prices, USD billion), 2005–09 194
Table 110: South Africa Gross Domestic Product (current prices, USD billion), 2005–09 194
Table 111: South Africa inflation, 2005–09 195
Table 112: South Africa consumer price index (absolute), 2005–09 195
Table 113: South Africa exchange rate, 2005–09 195
LIST OF FIGURES
Figure 1: Top 5 emerging countries insurance market , revenue ($m), 2005–14 12
Figure 2: Top 5 emerging countries insurance market , revenue ($m), 2005–09 14
Figure 3: Top 5 emerging countries insurance market projection , revenue ($m), 2009–14 16
Figure 4: Brazil insurance industry value: USD million, 2005–09 19
Figure 5: Brazil insurance industry sector ation I:% share, by value, 2009 20
Figure 6: Brazil insurance industry sector ation II: % share, by value, 2009 21
Figure 7: Forces driving competition in the insurance industry in Brazil, 2009 22
Figure 8: Drivers of buyer power in the insurance industry in Brazil, 2009 23
Figure 9: Drivers of supplier power in the insurance industry in Brazil, 2009 25
Figure 10: Factors influencing the likelihood of new entrants in the insurance industry in Brazil, 2009 27
Figure 11: Factors influencing the threat of substitutes in the insurance industry in Brazil, 2009 29
Figure 12: Drivers of degree of rivalry in the insurance industry in Brazil, 2009 30
Figure 13: Allianz AG: revenues & profitability 38
Figure 14: Allianz AG: assets & liabilities 39
Figure 15: Banco Bradesco: revenues & profitability 44
Figure 16: Banco Bradesco: assets & liabilities 45
Figure 17: Itau Unibanco Holding S.A.: revenues & profitability 51
Figure 18: Itau Unibanco Holding S.A.: assets & liabilities 52
Figure 19: Brazil insurance industry value projection : USD million, 2009–14 54
Figure 20: China insurance industry value: USD billion, 2005–09 58
Figure 21: China insurance industry sector ation I:% share, by value, 2009 59
Figure 22: China insurance industry sector ation II: % share, by value, 2009 60
Figure 23: Forces driving competition in the insurance industry in China, 2009 61
Figure 24: Drivers of buyer power in the insurance industry in China, 2009 63
Figure 25: Drivers of supplier power in the insurance industry in China, 2009 65
Figure 26: Factors influencing the likelihood of new entrants in the insurance industry in China, 2009 66
Figure 27: Factors influencing the threat of substitutes in the insurance industry in China, 2009 68
Figure 28: Drivers of degree of rivalry in the insurance industry in China, 2009 69
Figure 29: China Life Insurance Firms Limited: revenues & profitability 77
Figure 30: China Life Insurance Firms Limited: assets & liabilities 78
Figure 31: PICC Property and Casualty Firms Limited: revenues & profitability 81
Figure 32: PICC Property and Casualty Firms Limited: assets & liabilities 82
Figure 33: Ping An Insurance (Group) Firms of China, Ltd.: revenues & profitability 86
Figure 34: Ping An Insurance (Group) Firms of China, Ltd.: assets & liabilities 87
Figure 35: China insurance industry value projection : USD billion, 2009–14 89
Figure 36: India insurance industry value: USD million, 2005–09 93
Figure 37: India insurance industry sector ation I:% share, by value, 2009 94
Figure 38: India insurance industry sector ation II: % share, by value, 2009 95
Figure 39: Forces driving competition in the insurance industry in India, 2009 96
Figure 40: Drivers of buyer power in the insurance industry in India, 2009 97
Figure 41: Drivers of supplier power in the insurance industry in India, 2009 99
Figure 42: Factors influencing the likelihood of new entrants in the insurance industry in India, 2009 101
Figure 43: Factors influencing the threat of substitutes in the insurance industry in India, 2009 103
Figure 44: Drivers of degree of rivalry in the insurance industry in India, 2009 104
Figure 45: Allianz AG: revenues & profitability 112
Figure 46: Allianz AG: assets & liabilities 113
Figure 47: Aditya Birla Nuvo Limited: revenues & profitability 116
Figure 48: Aditya Birla Nuvo Limited: assets & liabilities 117
Figure 49: Prudential plc: revenues & profitability 122
Figure 50: Prudential plc: assets & liabilities 123
Figure 51: India insurance industry value projection : USD million, 2009–14 125
Figure 52: Mexico insurance industry value: USD million, 2005–09 129
Figure 53: Mexico insurance industry sector ation I:% share, by value, 2009 130
Figure 54: Mexico insurance industry sector ation II: % share, by value, 2009 131
Figure 55: Forces driving competition in the insurance industry in Mexico, 2009 132
Figure 56: Drivers of buyer power in the insurance industry in Mexico, 2009 133
Figure 57: Drivers of supplier power in the insurance industry in Mexico, 2009 135
Figure 58: Factors influencing the likelihood of new entrants in the insurance industry in Mexico, 2009 136
Figure 59: Factors influencing the threat of substitutes in the insurance industry in Mexico, 2009 138
Figure 60: Drivers of degree of rivalry in the insurance industry in Mexico, 2009 139
Figure 61: ING Groep N.V.: revenues & profitability 145
Figure 62: ING Groep N.V.: assets & liabilities 146
Figure 63: MetLife Inc: revenues & profitability 150
Figure 64: MetLife Inc: assets & liabilities 151
Figure 65: Grupo Financiero Banorte SA de CV: revenues & profitability 154
Figure 66: Grupo Financiero Banorte SA de CV: assets & liabilities 155
Figure 67: Mexico insurance industry value projection : USD million, 2009–14 157
Figure 68: South Africa insurance industry value: USD million, 2005–09 161
Figure 69: South Africa insurance industry sector ation I:% share, by value, 2009 162
Figure 70: Forces driving competition in the insurance industry in South Africa, 2009 163
Figure 71: Drivers of buyer power in the insurance industry in South Africa, 2009 164
Figure 72: Drivers of supplier power in the insurance industry in South Africa, 2009 166
Figure 73: Factors influencing the likelihood of new entrants in the insurance industry in South Africa, 2009 168
Figure 74: Factors influencing the threat of substitutes in the insurance industry in South Africa, 2009 170
Figure 75: Drivers of degree of rivalry in the insurance industry in South Africa, 2009 171
Figure 76: Allianz AG: revenues & profitability 179
Figure 77: Allianz AG: assets & liabilities 180
Figure 78: Liberty Holdings Limited: revenues & profitability 184
Figure 79: Liberty Holdings Limited: assets & liabilities 185
Figure 80: Old Mutual: revenues & profitability 191
Figure 81: South Africa insurance industry value projection : USD million, 2009–14 193