India Insurance market going competitive and driven by government support programs: Ken research

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Future Growth Led by increasing awareness among the people, and rising personal disposable income with an improving economy

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India Insurance market going competitive and driven by government support programs: Ken research

  1. 1. 1© This is a licensed product of Ken Research and should not be copied
  2. 2. 2© This is a licensed product of Ken Research and should not be copiedTABLE OF CONTENTS1. Asia-Pacific Insurance Industry1.1. Industry Introduction1.2. Asia-Pacific Insurance Market Size by Direct Written Premium, 2005-2012P1.3. Asia-Pacific Insurance Market Segmentation1.3.1. By Geography, 2005-2012P1.3.2. By Life and Non Life, 2005-2012P2. India Insurance Industry2.1. India Insurance Value Chain2.2. India Insurance Market Size by Direct Written Premium, FY’2005-FY’20123. India Insurance Government Regulations4. India Life Insurance Market4.1. India Life Insurance Market Size, FY’2005-FY’20124.2. Life Insurance Segmentation, FY’2005-FY’20124.3. Market Share of Major Life Insurers in India, FY’20124.4. India Life Insurance Market Future Outlook and Projection, FY’2013-FY’20165. India Non-Life Insurance Market5.1. India Non-Life Insurance Market Size, FY’2005-FY’20126. Non-Life Insurance Segmentation, FY’2005-FY’20126.1. India Motor Insurance Industry6.1.1. India Motor Insurance Market Size, FY’2005-FY’20126.1.2. Motor Insurance Segmentation, 2005-20126.1.2.1. By Public and Private Motor Insurance Direct Written Premium, FY’2005-FY’20126.1.2.2. BY Motor Own Damage and Motor Third Party Insurance Direct WrittenPremium, FY’2010-FY’2012
  3. 3. 3© This is a licensed product of Ken Research and should not be copied6.1.3. India Automobile Insurance Distribution Channel, FY’ 2010-FY’20126.1.4. Market Share of Major Motor Insurers in India, FY’20126.1.5. India Motor insurance Market Future Outlook and Projection, FY’2013-FY’20166.2. India Health Insurance Industry6.2.1. India Health Insurance Market Size, FY’2005-FY’20126.2.2. Health Insurance Segmentation, FY’2005-FY’20126.2.3. India Health Insurance Distribution Channel, FY’ 2010-FY’20126.2.4. Market Share of Major Health Insurers in India, FY’20126.2.5. India Health insurance Market Future Outlook and Projection, FY’2013-FY’20166.3. India Fire Insurance Industry6.3.1. India Fire Insurance Market Size, FY’ 2005-FY’20126.3.2. Fire Insurance Segmentation, FY’2005-FY’20126.3.3. India Fire Insurance Distribution Channel, FY’ 2010-FY’20126.3.4. Market Share of Major Fire Insurers in India, FY’20126.3.5. India Fire insurance Market Future Outlook and Projection, FY’2013-FY’20166.4. India Marine Insurance Industry6.4.1. India Marine Insurance Market Size, FY’2005-FY’20126.4.2. Marine Insurance SegmentationBy Public and Private Insurance Direct Written Premium, FY’2005-FY’2012By Marine Cargo and Marine Hull Insurance Direct Written Premium, FY’2010-FY’20126.4.3. India Marine Insurance Distribution Channel, FY’ 2010-FY’20126.4.4. Market Share of Major Marine Insurers in India, FY’20126.4.5. India Marine insurance Market Future Outlook and Projection, FY’2013-FY’20166.5. India Miscellaneous Insurance Industry6.5.1. India Miscellaneous Insurance Market Size, FY’2005-FY’20126.5.2. Miscellaneous Insurance Segmentation, FY’2005-FY’2012
  4. 4. 4© This is a licensed product of Ken Research and should not be copiedBy Public and Private Insurance Direct Written Premium, FY’2005-FY’2012By Crop, Personal Accident and Liability Insurance Direct Written Premium, FY’2010-FY’20126.5.3. India Miscellaneous Insurance Distribution Channel, FY’ 2010-FY’20126.5.4. Market Share of Major Miscellaneous Insurers in India, FY’20126.5.5. Market Share of Major Personal Accident Insurers in India, FY’20126.5.6. India Miscellaneous insurance Market Future Outlook and Projection, FY’2013-FY’20166.6. Market Share of Major Non Life Insurers in India, FY’20127. India Non-Life Insurance Market Future Outlook and Projection, FY’2013-FY’20168. India Insurance Industry Trends and Developments9. Asia-Pacific Insurance Industry Future Outlook9.1. Asia-Pacific Insurance Industry Future Projections9.2. By Geography, 2013-201610. India Insurance Industry Future Projections, FY’2013-FY’201610.1. Cause and Effect Relationship between Dependent and Independent Factors Prevailing inIndia Insurance Market11. Company Profile of Major Players in India Life Insurance Industry11.1. Life Insurance Corporation11.1.1. Company Profile11.1.2. Business Strategies11.1.3. Financial Performance11.2. ICICI Prudential11.2.1. Company Profile11.2.2. Business Strategies11.2.3. Financial Performance11.3. SBI Life11.3.1. Company Profile
  5. 5. 5© This is a licensed product of Ken Research and should not be copied11.3.2. Business Strategies11.3.3. Financial Performance12. Company Profile of Major Players in India Non-Life Insurance Industry12.1. New India Assurance12.1.1. Company Profile12.1.2. Business Strategies12.1.3. Financial Performance12.2. United India Insurance12.2.1. Company Profile12.2.2. Business Strategies12.2.3. Financial Performance13. India Insurance Industry Macro-Economic Indicators: Historical and Projections13.1. India Population, 2005-201613.2. GDP of India, 2005-201613.3. Healthcare Expenditure of India, 2005-201613.4. Total number of Vehicle in Use in India, 2005-201614. Appendix14.1. Market Definitions14.2. Abbreviations14.3. Research MethodologyData Collection MethodsApproachVariables (Dependent and Independent)Multi Factor Based Sensitivity ModelFinal Conclusion14.4. Disclaimer
  6. 6. 6© This is a licensed product of Ken Research and should not be copiedLIST OF FIGURESFigure 1: Asia-Pacific Insurance Market Size on the Basis of Direct Written Premium in USDMillion, 2005-2012PFigure 2: Asia-Pacific Insurance Market Segmentation by Life and non Life on the Basis ofDirect Written Premium in Percentage, 2005-2012PFigure 3: Insurance Value ChainFigure 4: India Insurance Market Size on the Basis of Direct Written Premium in USD Million,FY’2005-FY’2012Figure 5: India Life Insurance Market Size on the Basis of Direct Written Premium in USDMillion, FY’2005-FY’2012Figure 6: India life Insurance Market Segmentation by Public and Private Insurers on the Basisof Direct Written Premium in Percentage, FY’2005-FY’2012Figure 7: India life Insurance Market Segmentation by Renewal and First Premium on the Basisof Direct Written Premium in Percentage, FY’2005-FY’2012Figure 8: Market Share of Major Life Insurers on the Basis of Direct Written Premium inPercentage, FY’2012Figure 9: India Life Insurance Market Projections on the Basis of Direct Written Premium inUSD Million, FY’2013-FY’2016Figure 10: India Non Life Insurance Market Size on the Basis of Direct Written Premium inUSD Million, FY’2005-FY’2012Figure 11: Life Non life Insurance Market Segmentation by Motor, Health, Fire, Marine andOthers on the Basis of Direct Written Premium in Percentage, FY’2005-FY’2012Figure 12: India Motor Insurance Market Size on the Basis of Direct Written Premium in USDMillion, FY’2005-FY’2012Figure 13: India Motor Insurance Market Segmentation by Private and Public Insurance on theBasis of Direct Written Premium in Percentage, FY’2005-FY’2012Figure 14: India Motor Insurance Market Segmentation by Motor Own Damage and Motor ThirdParty Insurance on the Basis of Direct Written Premium in Percentage, FY’2010-FY’2012
  7. 7. 7© This is a licensed product of Ken Research and should not be copiedFigure 15: India Motor Insurance Market Distribution Channel by Individual Agent, DirectBusiness, Brokers, Corporate Agent, Referral Arrangements and Others on the Basis of DirectWritten Premium in Percentage, FY’2010-FY’2012Figure 16: Market Share of Major Motor Insurers on the Basis of Direct Written Premium inPercentage, FY’2012Figure 17: India Health Insurance Market Size on the Basis of Direct Written Premium in USDMillion, FY’2005-FY’2012Figure 18: India Health Insurance Market Segmentation by Public, Private and StandaloneInsurance on the Basis of Direct Written Premium in Percentage, 2005-2012Figure 19: India Health Insurance Market Distribution Channel by Direct Business, IndividualAgent, Brokers, Corporate Agent, Referral Arrangements and Others on the Basis of DirectWritten Premium in Percentage, FY’2010-FY’2012Figure 20: Market Share of Major Health Insurers on the Basis of Direct Written Premium inPercentage, FY’2012Figure 21: India Fire Insurance Market Size on the Basis of Direct Written Premium in USDMillion, FY’2005-FY’2012Figure 22: India Fire Insurance Market Segmentation by Public and Private Insurance on theBasis of Direct Written Premium in Percentage, 2005-2012Figure 23: India Fire Insurance Market Distribution Channel by Direct Business, IndividualAgent, Brokers, Corporate Agent, Referral Arrangements and Others on the Basis of DirectWritten Premium in Percentage, FY’2010-FY’2012Figure 24: Market Share of Major Fire Insurers on the Basis of Direct Written Premium inPercentage, FY’2012Figure 25: India Marine Insurance Market Size on the Basis of Direct Written Premium in USDMillion, FY’2005-FY’2012Figure 26: India Marine Insurance Market Segmentation by Public and Private Insurance on theBasis of Direct Written Premium in Percentage, FY’2005-FY’2012Figure 27: India Marine Insurance Market Segmentation by Marine Cargo and Hull Insurance onthe Basis of Direct Written Premium in Percentage, FY’2010-FY’2012Figure 28: India Marine Insurance Market Distribution Channel by Direct Business, Broker,Individual Agent, Corporate Agent, Referral Arrangements and Others on the Basis of DirectWritten Premium in Percentage, FY’2010-FY’2012
  8. 8. 8© This is a licensed product of Ken Research and should not be copiedFigure 29: Market Share of Major Marine Insurers on the Basis of Direct Written Premium inPercentage, FY’2012Figure 30: India Miscellaneous Insurance Market Size on the Basis of Direct Written Premium inUSD Million, FY’2005-FY’2012Figure 31: India Miscellaneous Insurance Market Segmentation by Public and Private Insuranceon the Basis of Direct Written Premium in Percentage, FY’2005-FY’2012Figure 32: India Miscellaneous Insurance Market Segmentation by Crop, Personal Accident,Liability and Other Insurance on the Basis of Direct Written Premium in Percentage, FY’2010-FY’2012Figure 33: India Miscellaneous Insurance Market Distribution Channel by Direct Business,Individual Agent, Broker, Corporate Agent, Referral Arrangements and Others on the Basis ofDirect Written Premium in Percentage, FY’2010-FY’2012Figure 34: Market Share of Major Miscellaneous Insurers on the Basis of Direct WrittenPremium in Percentage, FY’2012Figure 35: Market Share of Major Personal Accident Insurers on the Basis of Direct WrittenPremium in Percentage, FY’2012Figure 36: Market Share of Major Non Life Insurers on the Basis of Direct Written Premium inPercentage, FY’2012Figure 37: India Non life Insurance Market Projections on the Basis of Direct Written Premiumin USD Million, FY’2013-FY’2016Figure 38: India Insurance Market Projections on the Basis of Direct Written Premium in USDMillion, 2012-2016Figure 39: India Life Insurance Premium Income of Life Insurance Corporation in USD Million,FY’2005-FY’2012Figure 40: India Life Insurance Premium Income of ICICI Prudential in USD Million, FY’2005-FY’2012Figure 41: India Life Insurance Premium Income of SBI Life in USD Million, FY’2005-FY’2012Figure 42: India Non-Life Insurance Direct Written Premium of New India Assurance in USDMillion, FY’2005-FY’2012Figure 43: India Non-Life Insurance Direct Written Premium of United India Insurance in USDMillion, FY’2005-FY’2012
  9. 9. 9© This is a licensed product of Ken Research and should not be copiedFigure 44: India Population in Million, 2005-2016Figure 45: GDP of India in USD Million, 2005-2016Figure 46: Healthcare Expenditure of India in USD Million, 2005-2016Figure 47: Total Number of Vehicle in Use in India in Million, 2005-2016
  10. 10. 10© This is a licensed product of Ken Research and should not be copiedLIST OF TABLESTable 1: Asia-Pacific Insurance Market Segmentation by Countries on the Basis of DirectWritten Premium in USD Billion, 2005-2012PTable 2: Asia-Pacific Insurance Market Segmentation by Life and Non Life on the Basis ofDirect Written Premium in USD Billion, 2005-2012PTable 3: Top Insurance Product of the Leading Insurance Companies in IndiaTable 4: Difference between ULIP and Traditional PoliciesTable 5: India life Insurance Market Segmentation by Public and Private Insurers on the Basis ofDirect Written Premium in USD Million, FY’2005-FY’2012Table 6: India life Insurance Market Segmentation by Renewal and First Premium on the Basisof Direct Written Premium in USD Million, FY’2005-FY’2012Table 7: Market Share of Major Life Insurers on the Basis of Direct Written Premium inPercentage, FY’2012Table 8: India Motor Insurance Market Segmentation by Private and Public Insurance on theBasis of Direct Written Premium in USD Million, FY’2005-FY’2012Table 9: India Motor Insurance Market Segmentation by Motor Own Damage and Motor ThirdParty Insurance on the Basis of Direct Written Premium in USD Million, FY’2010-FY’2012Table 10: India Motor Insurance Market Distribution Channel by Individual Agent, DirectBusiness, Brokers, Corporate Agent, Referral Arrangements and Others on the Basis of DirectWritten Premium in USD Million, FY’2010-FY’2012Table 11: Market Share of Major Motor Insurers on the Basis of Direct Written Premium in USDMillion, FY’2012Table 12: India Motor Insurance Market Projections on the Basis of Direct Written Premium inUSD Million, FY’2013-FY’2016Table 13: India Health Insurance Market Segmentation by Public, Private and StandaloneInsurance on the Basis of Direct Written Premium in USD Million, 2005-2012Table 14: India Fire Insurance Market Distribution Channel by Direct Business, IndividualAgent, Brokers, Corporate Agent, Referral Arrangements and Others on the Basis of DirectWritten Premium in USD Million, FY’2010-FY’2012Table 15: Market Share of Major Health Insurers on the Basis of Direct Written Premium inUSD Million, FY’2012
  11. 11. 11© This is a licensed product of Ken Research and should not be copiedTable 16: India Health Insurance Market Projections on the Basis of Direct Written Premium inUSD Million, FY’2013-FY’2016Table 17: India Fire Insurance Market Segmentation by Public and Private Insurance on theBasis of Direct Written Premium in USD Million, 2005-2012Table 18: India Fire Insurance Market Distribution Channel by Direct Business, IndividualAgent, Brokers, Corporate Agent, Referral Arrangements and Others on the Basis of DirectWritten Premium in USD Million, FY’2010-FY’2012Table 19: Market Share of Major Fire Insurers on the Basis of Direct Written Premium in USDMillion, FY’2012Table 20: India Fire Insurance Market Projections on the Basis of Direct Written Premium inUSD Million, FY’2013-FY’2016Table 21: India Marine Insurance Market Segmentation by Public and Private Insurance on theBasis of Direct Written Premium in USD Million, FY’2005-FY’2012Table 22: India Marine Insurance Market Segmentation by Marine Cargo and Hull Insurance onthe Basis of Direct Written Premium in USD Million, FY’2010-FY’2012Table 23: India Marine Insurance Market Distribution Channel by Direct Business, Broker,Individual Agent, Corporate Agent, Referral Arrangements and Others on the Basis of DirectWritten Premium in USD Million, FY’2010-FY’2012Table 24: Market Share of Major Marine Insurers on the Basis of Direct Written Premium inUSD Million, FY’2012Table 25: India Marine Insurance Market Projections on the Basis of Direct Written Premium inUSD Million, FY’2013-FY’2016Table 26: India Marine Insurance Market Segmentation by Public and Private Insurance on theBasis of Direct Written Premium in USD Million, FY’2005-FY’2012Table 27: India Miscellaneous Insurance Market Segmentation by Crop, Personal Accident,Liability and Other Insurance on the Basis of Direct Written Premium in USD Million, FY’2010-FY’2012Table 28: India Miscellaneous Insurance Market Distribution Channel by Direct Business,Individual Agent, Broker, Corporate Agent, Referral Arrangements and Others on the Basis ofDirect Written Premium in USD Million, FY’2010-FY’2012Table 29: Market Share of Major Miscellaneous Insurers on the Basis of Direct Written Premiumin USD Million, FY’2012
  12. 12. 12© This is a licensed product of Ken Research and should not be copiedTable 30: Market Share of Major Personal Accident Insurers on the Basis of Direct WrittenPremium in USD Million, FY’2012Table 31: India Miscellaneous Insurance Market Projections on the Basis of Direct WrittenPremium in USD Million, FY’2013-FY’2016Table 32: Market Share of Major Non Life Insurers on the Basis of Direct Written Premium inUSD Million, FY’2012Table 33: Asia-Pacific Insurance Market Projections by Countries on the Basis of Direct WrittenPremium in USD Million, 2013-2016Table 34: Cause and Effect Relationship Analysis between Industry Factors and ExpectedIndustry Prospects of India Insurance MarketTable 35: New India Assurance Offices in IndiaTable 36: Correlation Matrix of the India Insurance IndustryTable 37: Regression Coefficients Output of India Insurance Industry
  13. 13. 13© This is a licensed product of Ken Research and should not be copiedASIA-PACIFIC INSURANCE MARKET SIZE BY DIRECT WRITTENPREMIUM, 2005-2012PThe insurance market in Asia-Pacific region has grown remarkably over the past few years dueto the growth in the emerging market such as China, Japan, India, Australia, Taiwan and SouthKorea. The countries in the Asia-Pacific region are at different stages of economic developmentunlike the European countries and the US which has created significant opportunities for theinsurers in the region in order to serve the financial needs of the customers. The market in theregion has grown at a CAGR of 11.9% from USD ~ million in 2005 to USD ~million in 2012…Figure: Asia-Pacific Insurance Market Size on the Basis of Direct Written Premium inUSD Million, 2005-2012P0.02,00,000.04,00,000.06,00,000.08,00,000.010,00,000.012,00,000.014,00,000.016,00,000.02005 2006 2007 2008 2009 2010 2011 2012PUSDMillion
  14. 14. 14© This is a licensed product of Ken Research and should not be copiedChina insurance industry is one ofthe predominant markets in theinsurance industry in the Asia-Pacific region with a contributionof ~% of the direct writtenpremium in the region in 2012.ASIA-PACIFIC INSURANCE MARKET SEGMENTATIONBY GEOGRAPHY, 2005-2012PAsia-Pacific insurance industry is majorly contributed by 6 major countries such as Japan, China,South Korea, Taiwan, India and Australia with the share of ~% in 2012. Japan insurance marketis the second largest in the world with the contribution ofmore than ~% in 2012…. The China insurance industry isone of the predominant markets in the insurance industryin the Asia-Pacific region with a contribution of ~% of thedirect written premium in the region in 2012…South Korea is the third largest market with a contributionof ~% in 2012. The country insurance sector is morecomplicated with limited growth opportunities in comparison with the growing market in theregion such as China and India…Table: Asia-Pacific Insurance Market Segmentation by Countries on the Basis of DirectWritten Premium in USD Billion, 2005-2012PCountries 2005 2006 2007 2008 2009 2010 2011 2012PJapanChinaSouthKoreaTaiwanIndiaAustraliaHongKongSingaporeThailandMalaysiaIndonesia
  15. 15. 15© This is a licensed product of Ken Research and should not be copiedNewZealandPhilippinesVietnamPakistanKazakhstanBangladeshSri LankaTotalINDIA INSURANCE INDUSTRYINDIA INSURANCE MARKET SIZE BY DIRECT WRITTENPREMIUM, FY’2005-FY’2012The insurance market of the country has experienced a decline in the growth rate from 6.1% inFY’2011 to 0.2% in FY’2012….. After the opening up of Indian insurance market for privatesector, the industry has first time has reported a fall in the insurance density from INR ~ in 2011to INR ~ in 2010. The insurance density is measured as a ratio of premium to total population.Table: Top Insurance Product of the Leading Insurance Companies in IndiaCompany ProductLICICICI PrudentialReliance General InsuranceBajaj AllianzHDFC LifeTata AIG Insurance
  16. 16. 16© This is a licensed product of Ken Research and should not be copiedKotak Life InsuranceAvivaFuture GeneraliMetLifeStar Union Dai-ichi Life InsuranceShriram Life InsuranceBharti AXAIDBI FederalCanara HSBC OBC Life InsuranceDLF Pramerica Life InsuranceIndiaFirst Life InsuranceSahara Life InsuranceApollo Munich Health InsuranceStar Health InsuranceIFFCO TOKIO General InsuranceNew India AssuranceOriental InsuranceNational InsuranceCholamandalam MS General InsuranceHDFC ErgoUniversal Sompo General InsuranceL&T Insurance
  17. 17. 17© This is a licensed product of Ken Research and should not be copiedFigure: India Insurance Market Size on the Basis of Direct Written Premium in USDMillion, FY’2005-FY’2012Note:FY ending- 31stMarchLife Insurance is in Premium IncomeNon-Life Insurance is in Direct Written PremiumINDIA LIFE INSURANCE MARKETLIFE INSURANCE SEGMENTATION, FY’2005-FY’2012In FY’2012, the single premium income product has experienced a negative growth of ~% incomparison to the positive growth of ~% in FY’2011. The single premium products continue toplay a major role for LIC as they contribute around ~% of the total LIC premium income inFY’2011. In FY’2012, Life Insurance Corporation of India (LIC) has reported a solvency ratio of~% which was same as of FY’2011 while the ~ life insurance companies have maintained thesolvency ratio above ~% in which ~ players has a ratio of above ~%. The solvency ratio is usedto measure the companys ability to meet long term obligations.The life insurance industry of the country has paid a claim of INR ~ crore in FY’2012constituting around ~% of the direct written premium in FY’2012. The benefits paid by theprivate insurers stood at INR ~5 crore while LIC has paid a claim of INR ~ crore in FY’2012. In0.010,000.020,000.030,000.040,000.050,000.060,000.070,000.080,000.0FY2005 FY2006 FY2007 FY2008 FY2009 FY2010 FY2011 FY2012USDMillion
  18. 18. 18© This is a licensed product of Ken Research and should not be copiedFY’ 2012, the life insurance companies has settled approximately ~ lakh claims on individualpolicies with a total payout of INR crore. In addition, the industry has also paid a benefit ofaround INR ~ on group policies.Table: Difference between ULIP and Traditional PoliciesFeatures ULIP Traditional PoliciesDescriptionFlexibility of InvestmentTransparencyMaturity BenefitsPayoutsPartial WithdrawalSwitching OptionsCharges StructureFigure: India life Insurance Market Segmentation by Public and Private Insurers on theBasis of Direct Written Premium in Percentage, FY’2005-FY’2012Note:FY ending- 31stMarchLife Insurance is in Premium Income0.00.20.40.60.81.01.2FY2005 FY2006 FY2007 FY2008 FY2009 FY2010 FY2011 FY2012InPercentagePrivate Insurers Public Insurers
  19. 19. 19© This is a licensed product of Ken Research and should not be copiedTable: India life Insurance Market Segmentation by Public and Private Insurers on theBasis of Direct Written Premium in USD Million, FY’2005-FY’2012Segments FY’2005 FY’2006 FY’2007 FY’2008 FY’2009 FY’2010 FY’2011 FY’2012PublicInsurersPrivateInsurersTotalNote:FY ending- 31stMarchLife Insurance is in Premium IncomeFigure: India life Insurance Market Segmentation by Renewal and First Premium on theBasis of Direct Written Premium in Percentage, FY’2005-FY’2012Note:FY ending- 31stMarchLife Insurance is in Premium Income0.00.20.40.60.81.01.2FY2005 FY2006 FY2007 FY2008 FY2009 FY2010 FY2011 FY2012InPercentageFirst Year Premium Renewal Premium
  20. 20. 20© This is a licensed product of Ken Research and should not be copiedTable: India life Insurance Market Segmentation by Renewal and First Premium on theBasis of Direct Written Premium in USD Million, FY’2005-FY’2012Segments FY’2005 FY’2006 FY’2007 FY’2008 FY’2009 FY’2010 FY’2011 FY’2012RenewalPremiumFirst YearPremiumTotalNote: FY ending- 31stMarchLife Insurance is in Premium IncomeINDIA NON-LIFE INSURANCE MARKETMARKET SHARE OF MAJOR NON LIFE INSURERS IN INDIA,FY’2012The general insurance industry of India is dominated by the presence of the top five players suchas New India Assurance, United India Insurance, National Insurance, Oriental Insurance andICICI Lombard with the share of ~% in FY’2012.New India Assurance is the leading non life insurance industry with the share of ~% and thedirect written premium of USD ~ million in FY’2012.
  21. 21. 21© This is a licensed product of Ken Research and should not be copiedFigure: Market Share of Major Non Life Insurers on the Basis of Direct Written Premiumin Percentage, FY’2012Note:FY ending- 31stMarchTable: Market Share of Major Non Life Insurers on the Basis of Direct Written Premiumin USD Million, FY’2012Players FY’2012New India AssuranceUnited India InsuranceNational InsuranceOriental InsuranceICICI LombardBajaj AllianzIFFCO-TokioHDFC ErgoRelianceNew India AssuranceUnited India InsuranceNational InsuranceOriental InsuranceICICI LombardBajaj AllianzIFFCO-TokioHDFC ErgoRelianceTATA AIGRoyal SundaramOthers
  22. 22. 22© This is a licensed product of Ken Research and should not be copiedIndia’s health insurance industryhas showcased a phenomenalgrowth in the past 7 years fromUSD ~ million in FY’2005 to USD ~million in FY’2012.TATA AIGRoyal SundaramOthersTotalNote:FY ending- 31stMarchINDIA HEALTH INSURANCE INDUSTRYINDIA HEALTH INSURANCE MARKET SIZE, FY’2005-FY’2012…India’s health insurance industry has showcased a phenomenal growth in the past 7 years fromUSD ~ million in FY’2005 to USD ~ million inFY’2012. The growth was primarily due to the constantincrease in the GDP…Figure: India Health Insurance Market Size on the Basis of Direct Written Premium inUSD Million, FY’2005-FY’2012Note: FY ending- 31stMarch0.0500.01,000.01,500.02,000.02,500.03,000.0FY2005 FY2006 FY2007 FY2008 FY2009 FY2010 FY2011 FY2012USDMillion
  23. 23. 23© This is a licensed product of Ken Research and should not be copiedINDIA FIRE INSURANCE INDUSTRYINDIA FIRE INSURANCE DISTRIBUTION CHANNEL, FY’ 2010-FY’2012…In FY’2012, the direct selling is the leading contributor in the fire insurance industry with theshare of ~%. This distribution channel has sold around ~ thousand fire insurance policies inFY’2012….…In FY’2012, the bancassurance segment has sold around ~ thousand fire insurance policies inthe country.Figure: India Fire Insurance Market Distribution Channel by Direct Business, IndividualAgent, Brokers, Corporate Agent, Referral Arrangements and Others on the Basis ofDirect Written Premium in Percentage, FY’2010-FY’2012Note:FY ending- 31stMarch0.0%10.0%20.0%30.0%40.0%50.0%60.0%70.0%80.0%90.0%100.0%FY2010 FY2011 FY2012InPercentage%Others Referral Arrangements Corporate AgentsBrokers Individual Agent Direct Business
  24. 24. 24© This is a licensed product of Ken Research and should not be copiedTable: India Fire Insurance Market Distribution Channel by Direct Business, IndividualAgent, Brokers, Corporate Agent, Referral Arrangements and Others on the Basis ofDirect Written Premium in USD Million, FY’2010-FY’2012Segments FY’2010 FY’2011 FY’2012Direct BusinessIndividual AgentBrokersCorporate AgentReferral ArrangementOthersTotalNote:FY ending- 31stMarchINDIA MARINE INSURANCE INDUSTRYINDIA MARINE INSURANCE MARKET FUTURE OUTLOOK ANDPROJECTION, FY’2013-FY’2016The Indian marine insurance industry is expected to grow at a CAGR of 6.5% in the next fewyears and is predicted to record direct written premium of USD ~ million in FY’2016. Thegrowth in the market will be influenced by the rising premium rates in the country on account ofsurging claim ratio…
  25. 25. 25© This is a licensed product of Ken Research and should not be copiedTable: India Marine Insurance Market Projections on the Basis of Direct WrittenPremium in USD Million, FY’2013-FY’2016Segments FY’2013 FY’2014 FY’2015 FY’2016Public InsurancePrivate InsuranceTotalNote:FY ending- 31stMarchINDIA INSURANCE INDUSTRY TRENDS ANDDEVELOPMENTSMOUNTING IMPORTANCE OF IT IN HEALTHCAREInformation and communication technology (ICT) has played a major role in strengthening thegrowth of healthcare industry of India….ASIA-PACIFIC INSURANCE INDUSTRY FUTUREOUTLOOK…Overall, the market of the Asia-Pacific insurance is expected to grow at a CAGR of 11.2%from 2013-2016. The market in the near future is expected to witness consolidation and highercompetition level with the entrance of more global players in the market.
  26. 26. 26© This is a licensed product of Ken Research and should not be copiedASIA-PACIFIC INSURANCE INDUSTRY FUTURE PROJECTIONSBY GEOGRAPHY, 2013-2016The Asia-Pacific Insurance industry is expected to grow at a CAGR of 11.2% from 2013-2016on account of rising population in the emerging market of Asia such as India and China. It isanticipated that the total direct written premium of the insurance products will increase to USD ~million in 2016 from USD ~ million in 2012.Table: Asia-Pacific Insurance Market Projections by Countries on the Basis of DirectWritten Premium in USD Million, 2013-2016Countries 2013 2014 2015 2016JapanChinaSouth KoreaTaiwanIndiaAustraliaHong KongSingaporeThailandMalaysiaIndonesiaNew ZealandPhilippinesVietnamPakistanKazakhstanBangladeshSri LankaTotal
  27. 27. 27© This is a licensed product of Ken Research and should not be copiedINDIA INSURANCE INDUSTRY FUTURE PROJECTIONS,FY’2013-FY’2016…Under the base scenario analysis, the insurance market of India is expected to grow at aCAGR of 9.9% and is predicted to record direct written premium of USD ~ million inFY’2016….The worst case scenario analysis assumes that the insurance market will suffer a massive declinein comparison to the historical years and is predicted to grow at a CAGR of 1.5% in the next fouryears…The best case scenario analysis predicts that the market will grow at strong CAGR of 12.9% andis anticipated to register a direct written premium of USD ~ million in FY’2016…Figure: India Insurance Market Projections on the Basis of Direct Written Premium inUSD Million, 2012-2016Note:FY ending- 31stMarch0.020,000.040,000.060,000.080,000.01,00,000.01,20,000.01,40,000.0FY2013 FY2014 FY2015 FY2016USDMillionWorst Case Base Case Best Case
  28. 28. 28© This is a licensed product of Ken Research and should not be copiedCAUSE AND EFFECT RELATIONSHIP BETWEEN DEPENDENT ANDINDEPENDENT FACTORS PREVAILING IN INDIA INSURANCEMARKETTable: Cause and Effect Relationship Analysis between Industry Factors and ExpectedIndustry Prospects of India Insurance MarketIndustry Factors Market Impact CommentsStrict GovernmentRegulations andSupport Cause:. Positive Effect: Negative Effect:IncreasingPopulation  Cause: Effect:IncreasingConsumerSpending Cause: Effect:IntensifyingCompetition Cause: Positive Effect: Negative Effect:DISCLAIMERNo part of this manual or any material appearing may be reproduced, stored in or transmittedon any other Web site without written permission of Ken Research and any payments of aspecified fee. Requests to republish any material may be sent to us.

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