Life Insurance in India, Key Trends and Opportunities to 2016

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					Life Insurance in India, Key Trends and
Opportunities to 2016
The Indian life insurance segment recorded significant growth during the review period. The increase was
primarily due to the rapid expansion of individual unit-linked policies (ULIPs). This was further encouraged
by the expanding population, robust economic growth, lucrative tax benefits, rising disposable income
levels and increased awareness of the need for insurance, especially among the younger population. The
ULIPs product category is expected to remain buoyant over the forecast period, while the proposed
increased FDI cap is anticipated to attract global insurers to invest in the segment.

Synopsis
The report provides in depth market analysis, information and insights into the Indian life insurance
market, including:
• The Indian life insurance market’s growth prospects by life insurance categories
• The various distribution channels in the Indian life insurance market
• The competitive landscape in the life insurance market in India
• A description of the life reinsurance market in India


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life-insurance-in-india-key-trends-and-opportunities-to-2016.html

Report Details:
Published: October 2012
No. of Pages: 239
Price: Single User License – US$1950         Corporate User License – US$3900




Scope
This report provides a comprehensive analysis of the life insurance market in India:
• It provides historical values for India’s life insurance market for the report’s 2007–2011 review period
and forecast figures for the 2012–2016 forecast period
• It offers a detailed analysis of the key sub-segments in India’s life insurance market, along with market
forecasts until 2016
• It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio,
commissions and expenses, combined ratio, frauds and crimes, total assets, total investment income and
retentions
• It analyses the various distribution channels for life insurance products in India
• Using Porter’s industry-standard “Five Forces” analysis, it details the competitive landscape in India for
the life insurance business
• It provides a detailed analysis of the reinsurance market in India and its growth prospects
• It profiles the top life insurance companies in India and outlines the key regulations affecting them

Reasons To Buy
• Make strategic business decisions using historic and forecast market data related to the Indian life
insurance market and each sector within it
• Understand the demand-side dynamics, key market trends and growth opportunities within the Indian
life insurance market
• Assess the competitive dynamics in the life insurance market, along with the reinsurance segment
• Identify the growth opportunities and market dynamics within key product categories
• Gain insights into key regulations governing the Indian life insurance market and its impact on
companies and the market''s future

Key Highlights
• India''s insurance industry is anticipated to grow at a significant pace owing to the country’s positive
economic growth and proposed industry reforms, such as the increase in the limit of foreign direct
investment.
• Over the forecast period, the IRDA has proposed to increase the permitted level of foreign direct
investment in private insurance companies to 49 percent of equity capital from the current level of 26
percent, which is expected to raise the penetration level of insurance companies, especially in rural
areas.
• Rising employment and affluence levels are expected to increase the insurable population significantly
by 2016.
• The life insurance segment’s growth will be driven by the increasing demand for unit-linked policies and
greater awareness about the need for, and benefits of, life insurance coverage.
• Insurance penetration in rural and social areas is marked by a high degree of risk and, as such, requires
more dynamic and efficient risk management systems.

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Description: The Indian life insurance segment recorded significant growth during the review period. The increase was primarily due to the rapid expansion of individual unit-linked policies (ULIPs). This was further encouraged by the expanding population, robust economic growth, lucrative tax benefits, rising disposable income levels and increased awareness of the need for insurance, especially among the younger population. The ULIPs product category is expected to remain buoyant over the forecast period, while the proposed increased FDI cap is anticipated to attract global insurers to invest in the segment.