India Insurance Report Q3 2016

Date: June 8, 2016
Pages: 53
US$ 1,295.00
Report type: Strategic Report
Delivery: E-mail Delivery (PDF)

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Includes 3 FREE quarterly updates

BMI View: India's insurance market is expected to record rapid growth over the course of our five year forecast period of 2016-2020. While already a large market, the insurance sector is by no means mature and there remains significant scope for growth from a relatively low base, particularly in the less developed non-life market. India is home to a large population where household income rates are expected to increase steadily which indicates greater affordability for a range of products - though the focus will likely remain on basic motor, health and property lines. Relaxation of the stringent rules governing foreign investment in the insurance sector will likely attract more multinationals to the market, enhancing the range of products available and we expect to see healthy growth in life and non-life insurance moving forward.

Key Updates and Forecasts
  • Several insurance providers are developing their bancassurance networks in order to improve penetration rates. Future Generali India Insurance Company Limited (FGII), for example, has established partnerships with ten small and medium size banks in Kolhapur and Sangli districts with a focus on agricultural insurance. FGII expects to see 30% growth in rural and micro-insurance products over the year.
  • India appears set for its first life insurance firm initial public offering (IPO) after Housing Development Finance Corp announced it would offer a stake in life insurer HDFC (a joint venture with Standard
BMI Industry View
  Table: Headline Insurance Forecasts (India 2013-2020)
Industry Forecast
Life Premiums Forecast
  Table: Life Premiums (India 2013-2020)
  Table: Life Insurance Claims (India 2008-2014)
Non-Life Premiums Forecast
  Table: Non-Life Premiums (India 2013-2020)
  Table: Non-Life Insurance Claims (India 2009-2014)
Non-Life Sub-Sector Forecast
  Table: Non-Life Insurance Premiums by Product Line (India 2013-2020)
Insurance Risk/Reward Index
Asia Pacific Industry Risk/Reward Index
  Table: Asia Pacific Insurance Risk/Reward Index Q316
Market Overview
Life Insurance Market Overview
The Product Offering
The Competitive Landscape
  Table: India Life Insurance Market Share (USDmn) 2008-2014
Non-Life Insurance Market Overview
The Product Offering
The Competitive Landscape
  Table: India Non-Life Insurance Market Share (USDmn), 2008-2014
Company Profile
Life Insurance Corporation of India
The New India Assurance Co
Industry Forecast Methodology
Risk/Reward Index Methodology
  Table: Indicators
  Table: Weighting of Indicators
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