Reinsurance in India, Key Trends and Opportunities to 2017

Date: October 11, 2013
Pages: 68
Price:
US$ 1,950.00
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Publisher: Timetric
Report type: Strategic Report
Delivery: E-mail Delivery (PDF)
ID: R0D0BAB4EF5EN
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Reinsurance in India, Key Trends and Opportunities to 2017
SYNOPSIS

The report provides market analysis, information and insights into the Indian reinsurance segment, including:
  • The Indian reinsurance segment’s growth prospects by reinsurance categories
  • The Indian reinsurance segment’s growth prospects by reinsurance ceded from direct insurance segments
  • The competitive landscape in the Indian reinsurance insurance segment
SUMMARY

Despite the financial crisis, the Indian reinsurance segment grew at a CAGR of 9.9% during the review period. This was due to robust growth in the non-life and personal accident and health segments, the rise of private sector companies following liberalization in 2000, and people insuring against natural disasters. The reinsurance segment is highly concentrated and dominated by the General Insurance Company in India. The majority of Indian reinsurance is sourced from the General Insurance Corporation (GIC) and major European professional reinsurers based in Continental Europe and Asia.

SCOPE

This report provides a comprehensive analysis of the reinsurance segment in India:
  • It provides historical values for India’s reinsurance 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 reinsurance segment, along with forecasts until 2017
  • It provides a detailed analysis of the reinsurance ceded from various direct insurance segments in India and its growth prospects
  • It profiles the top reinsurance companies in India
REASONS TO BUY
  • Make strategic business decisions using historic and forecast data related to the Indian reinsurance segment and each of the categories within it
  • Understand the demand-side dynamics, key market trends and growth opportunities within the Indian reinsurance segment
  • Assess the competitive dynamics in the reinsurance segment
  • Identify the growth opportunities and dynamics within key product categories
KEY HIGHLIGHTS
  • The Indian reinsurance segment registered a healthy growth during the review period driven by the healthy growth in direct insurance segments.
  • The reinsurance segment is highly concentrated and dominated by the General Insurance Company in India.
  • Treaty reinsurance accounted for 87.8% of total reinsurance written premiums in 2012.
  • Over the forecast period, the level of competition in the reinsurance segment is expected to increase following the IRDA’s proposal to permit foreign reinsurance companies to establish branches in India.
1 EXECUTIVE SUMMARY

2 INTRODUCTION

2.1 What is this Report About?
2.2 Definitions
2.3 Methodology

3 INDIAN INSURANCE INDUSTRY ATTRACTIVENESS

3.1 Insurance Industry Size, 2008–2017

4 REINSURANCE GROWTH DYNAMICS AND CHALLENGES

4.1 Reinsurance Segment Size, 2008–2017
4.2 Reinsurance Segment Size by Type of Insurance, 2008–2017

5 KEY INDUSTRY TRENDS AND DRIVERS

5.1 Fundamental Business Drivers
5.2 Life Insurance Segment Drivers
5.3 Non-Life Insurance Segment Drivers
5.4 Personal Accident and Health Insurance Segment Drivers

6 COMPETITIVE LANDSCAPE AND STRATEGIC INSIGHTS

6.1 Overview
6.2 General Insurance Corporation of India – Company Overview
  6.2.1 General Insurance Corporation of India – key facts
  6.2.2 General Insurance Corporation of India – key financials

7 BUSINESS ENVIRONMENT AND COUNTRY RISK

7.1 Business Confidence
  7.1.1 Market capitalization trend – Bombay Stock Exchange, India
7.2 Economic Performance
  7.2.1 GDP at constant prices (US$)
  7.2.2 GDP per capita at constant prices (US dollar)
  7.2.3 GDP at current prices (US dollar)
  7.2.4 GDP per capita at current prices (US dollar)
  7.2.5 GDP by key segments
  7.2.6 Agriculture, hunting, forestry and fishing net output at current prices (US dollar)
  7.2.7 Agriculture, hunting, forestry and fishing net output at current prices as a percentage of GDP
  7.2.8 Manufacturing net output at current prices (US$)
  7.2.9 Manufacturing net output at current prices as a percentage of GDP
  7.2.10 Mining, manufacturing and utilities at current prices (US$)
  7.2.11 Mining, manufacturing and utilities at current prices, as percentage of GDP
  7.2.12 Construction net output at current prices (US$)
  7.2.13 Construction net output at current prices as a percentage of GDP
  7.2.14 Inflation rate
  7.2.15 Exports as a percentage of GDP
  7.2.16 Imports as a percentage of GDP
  7.2.17 Exports growth
  7.2.18 Imports growth
  7.2.19 Annual average exchange rate INR–US$
7.3 Infrastructure Quality and Availability
  7.3.1 Commercial vehicles exports total value
  7.3.2 Commercial vehicle imports total value
  7.3.3 Automotive exports total value
  7.3.4 Automotive imports total value
  7.3.5 Total internet subscribers
7.4 Labor Force
  7.4.1 Labor force
7.5 Demographics
  7.5.1 Gross national disposable income (US$)
  7.5.2 Total population
  7.5.3 Urban and rural population
  7.5.4 Age distribution of the total population

8 APPENDIX

8.1 Methodology
8.2 Contact Timetric
8.3 About Timetric
8.4 Timetric’s Services
8.5 Disclaimer

LIST OF TABLES

Table 1: Insurance Industry Definitions
Table 2: Indian Insurance – Overall Written Premium by Segment (INR Billion), 2008–2012
Table 3: Indian Insurance – Overall Written Premium by Segment (US$ Billion), 2008–2012
Table 4: Indian Insurance – Overall Written Premium by Segment (INR Billion), 2012–2017
Table 5: Indian Insurance – Overall Written Premium by Segment (US$ Billion), 2012–2017
Table 6: Indian Insurance – Segmentation (%), 2008–2017
Table 7: Reinsurance in India by Category (INR Billion), 2008–2012
Table 8: Reinsurance in India by Category (US$ Billion), 2008–2012
Table 9: Reinsurance in India by Category (INR Billion), 2012–2017
Table 10: Reinsurance in India by Category (US$ Billion), 2012–2017
Table 11: Indian Premium Ceded to Reinsurance by Type of Insurance (INR Billion), 2008–2012
Table 12: Indian Premium Ceded to Reinsurance by Type of Insurance (US$ Billion), 2008–2012
Table 13: India Premium Ceded to Reinsurance by Type of Insurance (INR Billion), 2012–2017
Table 14: India Premium Ceded to Reinsurance by Type of Insurance (US$ Billion), 2012–2017
Table 15: Indian Life Insurance – Percentage of Reinsurance Ceded (%), 2008–2012
Table 16: Indian Life Insurance – Percentage of Reinsurance Ceded (%), 2012–2017
Table 17: Indian Non-Life Insurance – Percentage of Reinsurance Ceded (%), 2008–2012
Table 18: Indian Non-Life Insurance – Percentage of Reinsurance Ceded (%), 2012–2017
Table 19: Indian Personal Accident and Health Insurance – Percentage of Reinsurance Ceded (%), 2008–2012
Table 20: Indian Personal Accident and Health Insurance – Percentage of Reinsurance Ceded (%), 2012–2017
Table 21: General Insurance Corporation of India, Key Facts
Table 22: General Insurance Corporation of India, Key Financials (INR Million), 2008–2012

LIST OF FIGURES

Figure 1: Indian Insurance – Overall Written Premium by Segment (INR Billion), 2008–2017
Figure 2: Indian Insurance – Dynamics by Segment (%), 2008–2017
Figure 3: Indian Premium Ceded to Reinsurance by Category (INR Billion), 2008–2017
Figure 4: Indian Premium Ceded to Reinsurance by Category (Percentage Share), 2012 and 2017
Figure 5: Indian Reinsurance – Dynamics by Category (%), 2008–2017
Figure 6: Indian Premium Ceded to Reinsurance by Type of Insurance (INR Billion), 2008–2017
Figure 7: Indian Reinsurance – Dynamics by Type of Insurance (%), 2008–2017
Figure 8: Indian Life Insurance – Percentage of Reinsurance Ceded (%), 2008–2012
Figure 9: Indian Life Insurance – Percentage of Reinsurance Ceded (%), 2012–2017
Figure 10: Indian Non-Life Insurance – Percentage of Reinsurance Ceded (%), 2008–2012
Figure 11: Indian Non-Life Insurance – Percentage of Reinsurance Ceded (%), 2012–2017
Figure 12: Indian Personal Accident and Health Insurance – Percentage of Reinsurance Ceded (%), 2008–2012
Figure 13: Indian Personal Accident and Health Insurance – Percentage of Reinsurance Ceded (%), 2012–2017
Figure 14: Indian Stock Exchange Market Capitalization (US$ Billion), 2008–2012
Figure 15: Indian GDP at Constant Prices (US$ Billion), 2008–2012
Figure 16: Indian GDP Per Capita at Constant Prices (US$), 2008–2012
Figure 17: Indian GDP at Current Prices (US$ Billion), 2008–2012
Figure 18: Indian GDP Per Capita at Current Prices (US$), 2008–2012
Figure 19: Indian GDP by Key Segments (%), 2007 and 2011
Figure 20: Indian Agriculture, Hunting, Forestry and Fishing Net Output at Current Prices (US$ Billion), 2007–2011
Figure 21: Indian Agriculture, Hunting, Forestry and Fishing Net Output at Current Prices as a Percentage of GDP (%), 2007–2011
Figure 22: Indian Manufacturing Net Output at Current Prices (US$ Billion), 2007–2011
Figure 23: Indian Manufacturing Net Output at Current Prices as a Percentage of GDP (%), 2007–2011
Figure 24: Indian Mining, Manufacturing and Utilities Net Output at Current Prices (US$ Billion), 2007–2011
Figure 25: Indian Mining, Manufacturing and Utilities Net Output at Current Prices as a Percentage of GDP (%), 2007–2011
Figure 26: Indian Construction Net Output at Current Prices (US$ Billion), 2007–2011
Figure 27: Indian Construction Output at Current Prices as a Percentage of GDP (%), 2007–2011
Figure 28: Indian Inflation Rate (%), 2008–2012
Figure 29: Indian Exports as a Percentage of GDP (%), 2007–2011
Figure 30: Indian Imports as a Percentage of GDP (%), 2007–2011
Figure 31: Indian Exports Growth (%), 2007–2011
Figure 32: Indian Imports Growth (%), 2007–2011
Figure 33: Indian Annual Average Exchange Rate (US$–INR), 2008–2012
Figure 34: Indian Commercial Vehicles Exports Total Value (US$ Billion), 2007–2010
Figure 35: Indian Commercial Vehicles Imports Total Value (US$ Billion), 2007–2010
Figure 36: Indian Automotive Exports Total Value (US$ Billion), 2007–2010
Figure 37: Indian Automotive Imports Total Value (US$ Billion), 2007–2010
Figure 38: Indian Internet Subscriptions (Millions), 2007–2011
Figure 39: Indian Size of Labor Force in 15–59 Age Group (Million), 2007–2011
Figure 40: Indian Gross National Disposable Income (US$ Billion), 2007–2011
Figure 41: Indian Total Population (Million), 2007–2011
Figure 42: Indian Urban and Rural Population (%), 2008–2012
Figure 43: Indian Population Distribution by Age (%), 2008–2012

COMPANIES MENTIONED

General Insurance Company (GIC)

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