Non-Life Insurance in India Key Trends and Opportunities to 2016: Improving Infrastructure and Rising Disposable Income Will Drive Market Growth

Timetric
January 11, 2012
251 Pages - SKU: TMTR3804265
Countries covered: India

Synopsis

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

Despite the global economic crisis, the Indian non-life insurance market has continued to grow at a healthy rate. The market is, at present, dominated by public-sector insurers; all the private non-life insurers together account for less than half the total non-life insurance written premium. Public-sector insurers are expected to dominate the market over the forecast period, while private non-life insurers are expected to gradually increase their market shares. Although the Indian non-life insurance market has seen rapid growth over the 2007–2011 review period, it remains largely underpenetrated because of various limitations, such as low awareness, low penetration in rural areas, and lack of a robust distribution model.

Scope

This report provides a comprehensive analysis of the non-life insurance market in India:
  • It provides historical values for India’s non-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 non-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 non-life insurance products in India
  • Using Porter’s industry-standard “Five Forces” analysis, it details the competitive landscape in India for the non-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 top-level historic and forecast market data related to the Indian non-life insurance market and each sector within it
  • Understand the demand-side dynamics, key market trends and growth opportunities within the Indian non-life insurance market
  • Assess the competitive dynamics in the non-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 insurance market and its impact on companies and the market's future
Key Highlights
  • Despite the global economic crisis, the Indian non-life insurance market continued to grow at a healthy rate during the review period (2007–2011)
  • Although the Indian non-life insurance market has grown rapidly during the review period, it remains largely underpenetrated because of various limitations, such as the poor awareness of the benefits of non-life insurance, the low penetration in rural areas, and lack of an effective distribution model
  • The market is dominated by public-sector insurers, and the combined market value of all the private non-life insurers is less than half of the total non-life insurance written premium
  • The Insurance Regulatory and Development Authority’s (IRDA’s) proposal to increase the foreign direct investment (FDI) limit for insurance companies from 26% to 49% will be a key growth driver for the non-life insurance market



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