Non-Life Insurance Industry in India to 2017

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Since 2000, the non-life segment has transformed as it deregulated and opened its doors to overseas businesses. As a result, the non-life segment has grown significantly over the last decade, resulting in the number of non-life insurance companies increasing from nine in 2000 to 25 in 2012. In terms of gross written premiums, the non-life segment grew from INR232.7 billion (US$5.3 billion) in 2008 to INR433.1 billion (US$8.1 billion) in 2012, at a CAGR of 16.8% during the review period.

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Non-Life Insurance Industry in India to 2017

  1. 1. Non-Life Insurance in India, Key Trends and Opportunities to 2017 Synopsis The report provides industry analysis, information and insights into the Indian non-life insurance segment, including: The Indian non-life insurance segment’s growth prospects by non-life insurance categories The various distribution channels in the Indian non-life insurance segment The competitive landscape in the non-life insurance segment in India A description of the non-life reinsurance segment in India Detailed analysis of the regulatory framework in India Executive summary Since 2000, the non-life segment has transformed as it deregulated and opened its doors to overseas businesses. As a result, the non-life segment has grown significantly over the last decade, resulting in the number of non-life insurance companies increasing from nine in 2000 to 25 in 2012. In terms of gross written premiums, the non-life segment grew from INR232.7 billion (US$5.3 billion) in 2008 to INR433.1 billion (US$8.1 billion) in 2012, at a CAGR of 16.8% during the review period. Government initiatives for large-scale insurance programs such as the Pan-India Campaign and regulatory initiatives will drive the expansion of private insurers. Scope This report provides a comprehensive analysis of the non-life insurance segment in India: It provides historical values for India’s non-life insurance segment for the report’s 2008–2012 review period and forecast figures for the 2012–2017 forecast period It offers a detailed analysis of the key sub-segments in India’s non-life insurance segment, along with forecasts until 2017 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 segment in India and its growth prospects It profiles the top non-life insurance companies in India and outlines the key regulations affecting them Reasons to buy Make strategic business decisions using historic and forecast data related to the Indian non-life insurance segment and each category within it Understand the demand-side dynamics, key market trends and growth opportunities within the Indian non-life insurance segment Assess the competitive dynamics in the non-life insurance segment, along with the reinsurance segment Identify the growth opportunities and dynamics within key product categories Gain insights into key regulations governing the Indian non-life insurance segment and its impact on companies and the market's future Key highlights The Indian insurance industry is one of the fastest-growing in the Asia-Pacific region and is highly competitive with the presence of both public and private companies. Despite the global economic crisis, the Indian non-life insurance segment continued to grow at a healthy CAGR of 16.8% during the review period Non-Life Insurance in India, Key Trends and Opportunities to 2017
  2. 2. (2008–2012). The growth in the income levels of the population due to booms in IT and other industries also added to the growth of the segment. 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 segment. The top five insurers accounted for 58.5% of the gross written premium of the segment at the end of 2012. table Of Contents 1 Executive Summary 2 Introduction 2.1 What Is This Report About? 2.2 Definitions 2.3 Methodology 3 Regional Market Dynamics 3.1 Overview 3.1.1 Market Trends 3.1.2 Market Size 4 Non-life Insurance 4.1 Scale And Penetration 4.1.1 Total Market Gross Written Premium 4.1.2 Premium Per Capita 4.1.3 Non-life Insurance Penetration (as A Percentage Of Gdp) 4.2 Growth 4.2.1 Gross Written Premium 4.2.2 Gross Written Premium Per Capita 4.3 Efficiency And Risk 4.3.1 Loss Ratio 4.3.2 Combined Ratio 4.3.3 Incurred Losses Per Capita 4.3.4 Incurred Losses As A Percentage Of Gdp 4.4 Distribution Channels 4.4.1 Direct Marketing 4.4.2 Bancassurance 4.4.3 Agencies Non-Life Insurance in India, Key Trends and Opportunities to 2017
  3. 3. 5 Indian Insurance Industry Attractiveness 5.1 Insurance Industry Size, 2008–2017 5.2 Key Industry Trends And Drivers 6 Non-life Insurance Outlook 6.1 Non-life Insurance Growth Prospects By Category 6.2 Property Insurance 6.2.1 Fire And Allied Perils Insurance 6.2.2 Engineering Insurance 6.2.3 Agriculture Insurance 6.2.4 Other Property Insurance 6.3 Motor Insurance 6.3.1 Motor Hull Insurance 6.3.2 Motor Third-party Insurance 6.4 General Third-party Insurance 6.5 Marine, Aviation And Transit Insurance 6.5.1 Marine Insurance 6.5.2 Marine Hull Insurance 6.5.3 Marine Third-party Insurance 6.5.4 Aviation Insurance 6.5.5 Transit Insurance 7 Analysis By Distribution Channels 7.1 Direct Marketing 7.2 Bancassurance 7.3 Agencies 7.4 E-commerce 7.5 Brokers 7.6 Other Channels 8 Porter’s Five Forces Analysis – Indian Non-life Insurance 8.1 Bargaining Power Of Suppliers: Low To Medium 8.2 Bargaining Power Of Buyer: Low 8.3 Barriers To Entry: Medium 8.4 Intensity Of Rivalry: Medium To High 8.5 Threat Of Substitutes: Low 9 Reinsurance Growth Dynamics And Challenges 9.1 Reinsurance Segment Size, 2008–2017 Non-Life Insurance in India, Key Trends and Opportunities to 2017
  4. 4. 9.2 Reinsurance Segment Size By Type Of Insurance, 2008–2017 10 Governance, Risk And Compliance 10.1 Legislation Overview And Historical Evolution 10.2 Legislation Trends By Type Of Insurance 10.2.1 Life Insurance Regulatory Trends 10.2.2 Property Insurance Regulatory Trends 10.2.3 Motor Insurance Regulatory Trends 10.2.4 Marine, Aviation And Transit Insurance Regulatory Trends 10.2.5 Personal Accident And Health Insurance Regulatory Trends 10.3 Compulsory Insurance 10.3.1 Motor Third-party Liability Insurance 10.3.2 Workmen's Compensation Insurance/employers’ Liability Insurance 10.4 Supervision And Control 10.4.1 International Association Of Insurance Supervisors 10.4.2 Insurance Regulatory And Development Authority 10.5 Non-admitted Insurance Regulatory Trends 10.5.1 Overview 10.5.2 Intermediaries 10.5.3 Market Practices 10.5.4 Fines And Penalties 10.6 Company Registration And Operations 10.6.1 Types Of Insurance Organization 10.6.2 Establishing A Local Company 10.6.3 Foreign Ownership 10.6.4 Types Of License 10.6.5 Capital Requirements 10.6.6 Solvency Margins 10.6.7 Reserve Requirements 10.6.8 Investment Regulations 10.6.9 Statutory Return Requirements 10.6.10 Fee Structure 10.7 Taxation 10.7.1 Insurance Premium Or Policy Taxation 10.7.2 Corporate Tax 10.7.3 Vat 10.7.4 Captives 10.8 Legal System 10.8.1 Introduction 10.8.2 Access To Court 10.8.3 Alternative Dispute Resolution (adr) Non-Life Insurance in India, Key Trends and Opportunities to 2017
  5. 5. 11 Competitive Landscape And Strategic Insights 11.1 Overview 11.2 Leading Companies In The Indian Non-life Insurance Segment 11.3 Comparison Of Top Five Insurers 11.3.1 Gross Written Premium 11.3.2 Net Earned Premiums 11.3.3 Paid Claims 11.3.4 Total Investment Income 11.4 New India Assurance Co. Ltd – Company Overview 11.4.1 New India Assurance Co. Ltd – Key Facts 11.4.2 New India Assurance Co. Ltd – Key Financials 11.5 United India Insurance Co. Ltd – Company Overview 11.5.1 United India Insurance Co. Ltd – Key Facts 11.5.2 United India Insurance Co. Ltd – Key Financials 11.6 National Insurance Co. Ltd – Company Overview 11.6.1 National Insurance Co. Ltd – Key Facts 11.6.2 National Insurance Co. Ltd – Key Financials 11.7 Oriental Insurance Company Ltd – Company Overview 11.7.1 Oriental Insurance Company Ltd – Key Facts 11.7.2 Oriental Insurance Company Ltd – Key Financials 11.8 Icici Lombard General Insurance Co. Ltd – Company Overview 11.8.1 Icici Lombard General Insurance Co. Ltd – Key Facts 11.8.2 Icici Lombard General Insurance Co. Ltd – Key Financials 11.9 Bajaj Allianz General Insurance Co. Ltd – Company Overview 11.9.1 Bajaj Allianz General Insurance Co. Ltd – Key Facts 11.9.2 Bajaj Allianz General Insurance Co. Ltd – Key Financials 11.1 Iffco-tokio General Insurance Co. Ltd – Company Overview 11.10.1 Iffco-tokio General Insurance Co. Ltd – Key Facts 11.10.2 Iffco-tokio General Insurance Co. Ltd – Key Financials 11.11 Reliance General Insurance Company Ltd – Company Overview 11.11.1 Reliance General Insurance Company Ltd – Key Facts 11.11.2 Reliance General Insurance Company Ltd – Key Financials 11.12 Agriculture Insurance Company – Company Overview 11.12.1 Agriculture Insurance Company – Key Facts 11.12.2 Agriculture Insurance Company – Key Financials 11.13 Hdfc Ergo General Insurance Company Ltd – Company Overview 11.13.1 Hdfc Ergo General Insurance Company Ltd – Key Facts 11.13.2 Hdfc Ergo General Insurance Company Ltd – Key Financials 12 Business Environment And Country Risk 12.1 Business Confidence 12.1.1 Market Capitalization Trend – Bombay Stock Exchange, India Non-Life Insurance in India, Key Trends and Opportunities to 2017
  6. 6. 12.2 Economic Performance 12.2.1 Gdp At Constant Prices (us$) 12.2.2 Gdp Per Capita At Constant Prices (us$) 12.2.3 Gdp At Current Prices (us$) 12.2.4 Gdp Per Capita At Current Prices (us$) 12.2.5 Gdp By Key Segments 12.2.6 Agriculture, Hunting, Forestry And Fishing Net Output At Current Prices (us$) 12.2.7 Agriculture, Hunting, Forestry And Fishing Net Output At Current Prices As A Percentage Of Gdp 12.2.8 Manufacturing Net Output At Current Prices (us$) 12.2.9 Manufacturing Net Output At Current Prices As A Percentage Of Gdp 12.2.10 Mining, Manufacturing And Utilities At Current Prices (us$) 12.2.11 Mining, Manufacturing And Utilities At Current Prices, As Percentage Of Gdp 12.2.12 Construction Net Output At Current Prices, (us$) 12.2.13 Construction Net Output At Current Prices As A Percentage Of Gdp 12.2.14 Inflation Rate 12.2.15 Exports As A Percentage Of Gdp 12.2.16 Imports As A Percentage Of Gdp 12.2.17 Exports Growth 12.2.18 Imports Growth 12.3 Infrastructure Quality And Availability 12.3.1 Commercial Vehicles Exports – Total Value 12.3.2 Commercial Vehicles Imports – Total Value 12.3.3 Automotive Exports – Total Value 12.3.4 Automotive Imports – Total Value 12.3.5 Total Internet Subscribers 12.4 Labor Force 12.4.1 Labor Force 12.5 Demographics 12.5.1 Gross National Disposable Income (us$) 12.5.2 Total Population 12.5.3 Urban And Rural Populations 12.5.4 Age Distribution Of The Total Population 13 Appendix 13.1 Methodology 13.2 Contact Timetric 13.3 About Timetric 13.4 Timetric’s Services 13.5 Disclaimer ResearchMoz(http://www.researchmoz.us/) is the one stop online destination to find and buy market research reports & Industry Analysis. We fulfill all your research needs spanning across industry verticals with our Non-Life Insurance in India, Key Trends and Opportunities to 2017
  7. 7. huge collection of market research reports. We provide our services to all sizes of organizations and across all industry verticals and markets. Our Research Coordinators have in-depth knowledge of reports as well as publishers and will assist you in making an informed decision by giving you unbiased and deep insights on which reports will satisfy your needs at the best price. Contact: M/s Sheela, 90 State Street, Suite 700, Albany NY - 12207 United States Tel: +1-518-618-1030 USA - Canada Toll Free 866-997-4948 Email: sales@researchmoz.us Website: http://www.researchmoz.us/ Non-Life Insurance in India, Key Trends and Opportunities to 2017

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