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The Insurance Industry in Sri Lanka, Key Trends and Opportunities to 2019

  • March 2016
  • -
  • Timetric
  • -
  • 167 pages

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Synopsis
Timetric’s 'The Insurance Industry in Sri Lanka, Key Trends and Opportunities to 2019' report provides detailed analysis of the market trends, drivers and challenges in the Sri Lankan insurance industry.

It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, total assets, total investment income and retentions during the review period (2010–2014) and forecast period (2014–2019).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Sri Lankan economy and demographics, and provides detailed information on the competitive landscape in the country.

The report brings together Timetric’s research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.

Summary
Timetric’s 'The Insurance Industry in Sri Lanka, Key Trends and Opportunities to 2019' report provides in-depth market analysis, information and insights into the Sri Lankan insurance industry, including:

- The Sri Lankan insurance industry's growth prospects by segment and category

- A comprehensive overview of Sri Lanka's economy and demographics

- Details of the competitive landscape in the Sri Lankan insurance industry

- The various distribution channels in the Sri Lankan insurance industry

- Details of regulatory policy applicable to the Sri Lankan insurance industry

- Analysis of natural hazards in the Sri Lankan insurance industry

Scope
This report provides a comprehensive analysis of the insurance industry in Sri Lanka:

- It provides historical values for the Sri Lankan insurance industry for the report’s 2010–2014 review period, and projected figures for the 2014–2019 forecast period.

- It offers a detailed analysis of the key segments in the Sri Lankan insurance industry, along with market forecasts until 2019.

- It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, combined ratio, total assets, total investment income and retentions.

- It analyzes the various distribution channels in Sri Lanka.

- It profiles the top insurance companies in Sri Lanka and outlines the key regulations affecting them.

Reasons To Buy
- Make strategic business decisions using in-depth historic and forecast market data related to the Sri Lankan insurance industry and each segment and category within it.

- Understand the demand-side dynamics, key market trends and growth opportunities in the Sri Lankan insurance industry.

- Assess the competitive dynamics in the Sri Lankan insurance industry.

- Identify the growth opportunities and market dynamics in key segments.

- Gain insights into key regulations governing the Sri Lankan insurance industry and their impact on companies and the industry's future.

Key Highlights
- The non-life segment’s growth was primarily a result of an increase in consumer awareness, government expenditure on infrastructure projects, and rising vehicle sales.

- Life insurance was the second-largest segment in the Sri Lankan insurance industry in terms of gross written premium.

- The personal accident and health insurance segment posted a review-period CAGR of 12.4%, supported by rises in outbound travel, the aging population and life expectancy.

- Health insurance was the largest category in the personal accident and health insurance segment, accounting for 86.1% of its gross written premium in 2014.

- Growth in the insurance industry and frequent natural disasters forced insurers to share risk with reinsurers.

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