India Insurance Report Q4 2016

Date: September 14, 2016
Pages: 55
US$ 1,295.00
Report type: Strategic Report
Delivery: E-mail Delivery (PDF)
ID: IC47E909C56EN

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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. Growth in the life sector should also remain strong, especially in view of very strong data for new premiums for 2016/17; we now forecast growth in gross premiums written of 11.0% in local currency terms in 2016, ahead of growth remaining in (or close to) double digits throughout the forecast period.

Key Updates and Forecasts

New business in the life sector during the first four months of fiscal year 2016/17 was very strong, with the country's Life Insurance Council revealing a 22.7% rise in new premiums. We forecast growth in gross premiums written of 11.0% in 2016, which would take premiums to INR4,176.8bn. In US dollar terms this translates into growth of 4.3%, taking gross premiums written to USD61.2bn. The lower growth in US dollar terms reflects a depreciation of the Indian rupee this year, although we expect the
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 2009-2015)
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 Q416
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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