Life Insurance Market Report - India

Transcription

1 Brochure More information from Life Insurance Market Report - India Description: The Indian life insurance sector has grown at a fast pace since liberalisation in The insurance sector has faced many challenges after the initial period of high growth. The life insurance market has been in a state of constant change driven by regulatory changes, increasing competition, a shifting distribution landscape and capital constraints since New business growth has slowed as companies focus on profitable growth. In this environment, decision makers need clear insights and analysis on the factors shaping the market and how competition is evolving. The Life Insurance Market Report is an essential resource for analysis of the life insurance sector in India. The report covers data and analysis on the Life Insurance, Health, Pensions and Micro Insurance markets. Scope: - India and its economic reforms process - Regulatory framework and summary of key regulations - Economy prospects and performance - Population and demographics - Life Insurance market review and - Competitive landscape Highlights: The life insurance market review provides an insightful analysis and comparison among the top 10 private sector companies and government owned bodies, combining textual analysis, graphical comparisons and data: - Life Insurance Penetration and Density - Penetration and Density within Indian states - Growth of the Life Insurance business - Product segments, growth, comparisons and trends - Distribution channels, growth, commissions, comparisons and trends - Financial review, comparison and trends - An in-depth five forces analysis of the competitive environment is included. Why this report: - Spot future trends and developments - Make informed decisions - Insightful analysis and in-depth industry coverage - Save time on collating data and initial industry analysis This report is an essential read for: - CEO's and Senior Management in Life Insurance companies in India - Companies seeking to enter the Indian market - Senior Management at Banks, Insurance Brokers and Intermediaries - Analysts and Researchers Contents: Executive Summary Country Background Maps Asia Political Map India States and Union Territories Map India and Neighbouring Countries Physical Map Country Information

2 Key Datelines Economic Reforms in India Datelines for key economic reforms People and Demographics Population Demographics Households Labour force by occupation Unemployment Rate Personal Income High Savings Rate Economy Contribution to GDP Industrial Production (IIP) Fiscal Deficit Inflation Policy & Interest Rates Foreign Exchange Reserves Foreign Direct and Portfolio Investment Balance of Payments Currency Stock Market Performance Governance and Legislation Governance Constitution of India Government Parliament Political Environment Legislation Legal System Business legislation Insurance Act, 1938 and IRDA Act, 1999 Regulatory structure Financial Stability and Development Council Insurance Regulatory and Development Authority (IRDA) Tariff Advisory Committee The Insurance Institute of India Life Insurance Council Insurance Ombudsmen Summary of Regulations Pension Funds Regulatory and Development Authority (PFRDA) Reserve Bank of India (RBI) Indian Currency Exchange Control under FEMA: Operations by Foreign Companies Foreign Direct Investments Securities and Exchange Board of India (SEBI) Initial Public Offer Taxation Corporate Individuals Direct Tax Code Proposed Financial Reforms The Pension Fund Regulatory and Development authority Bill, 2011

3 Insurance Bill -The Insurance Laws (Amendment) Bill, 2008 Minimum Common Standards for Financial Advisors Pension & Social Security Pension & Social Security Schemes Employee State Insurance Act, 1948 Employee Provident Fund and Miscellaneous Provisions Act, 1952 Payment of Gratuity Act, 1972 Workmen's Compensation Act, 1923 Maternity Benefit Act, 1961 Voluntary Schemes Contribution Limits Tax on Social Security Schemes Contribution under Employee Provident Fund Scheme: Contribution for Public Provident Fund Contribution to New Pension Scheme Interest Income on EPF and PPF Withdrawal from Employee Provident Fund Withdrawal from Public Provident Fund Payment of Gratuity Benefits under Employee State Insurance Act Healthcare Sector Disease and Illness Healthcare Expenditure Healthcare Infrastructure Health Insurance Life Insurance Industry History of Insurance in India Background Life Insurance Industry Background Market Size and Growth Rates Penetration and Density State level penetration and density Industry Growth and Performance State Level Tax Savings In Summary Life Insurance Industry Analysis Market Share Product Trends Individual and Group Business Individual Business Group Business Assets under Management Distribution Channels Individual Agents Bancassurance Corporate Agents Insurance Broker Independent Financial Advisors Direct Sales Direct Sales Force E-commerce and Online Sales Web Aggregators Referral or Database sharing Channel Share of Business Group Business

4 Individual Business Commission Trends Single Premium Commissions Regular Premium - Commissions on First Year Premiums Regular Premium Renewal Commissions Financial Review Conservation Ratios Operating Expenses to GWP Profitability Capital Solvency In Summary, Competitive Analysis Direct Rivalry among Competitors Threat of Entrants Pressure from Substitutes Customers Bargaining Power Suppliers Bargaining Power Summary of Opportunity Future Outlook Micro-insurance in India Background Current Landscape Regulatory Products Distribution Business Volumes List of Appendices Appendix 1: Regulations governing Life Insurance Companies Key Legislation Key IRDA Regulations Appendix 2: Issued Share Capital for Life Insurance Companies Appendix 3: Datelines Life Insurance Companies Licenses Appendix 4: Total Life Insurance Premium Appendix 5: First Year Life Insurance Premium Appendix 6: New Business Premium by Product Segment Appendix 7: New Business Policies by Product Segment Appendix 8: Individual New Business Premium by Distribution Channel Appendix 9: Individual New Business by State Appendix 10: Individual Business Growth Rates by State Appendix 11: Assets under Management Life Insurance Companies Appendix 12: Assets under Management for Life Insurers by Fund Category Appendix 13: Claims Appendix 14: Profit After Tax Life Insurance Companies Appendix 15: Individual Agents Life Insurance Companies Appendix 16: Corporate Agents Life Insurance Companies Appendix 17: Number of Branches & Offices Life Insurance Companies Appendix 18: Commission Payments Appendix 19: Operating Expenses to Gross Written Premiums Appendix 20: Conservation Ratios Life Insurance Companies Appendix 21: Directory of Regulatory Bodies in India Appendix 22: Directory of Life Insurance Companies Appendix 23: Directory of Reinsurance Companies in India Appendix 24: Directory of Insurance Brokers in India Appendix 25: Glossary List of Figures Figure 1 - Asia Political Map Figure 2 - India States & Union Territories

5 Figure 3 - India Physical Map Figure 4 - Population Growth Figure 5 Male & Female Life expectancy at birth Figure 6 Population Growth by Age Group Figure 7 - Labour Force Occupation Figure 8 - GDP per Capita Figure 9 - Domestic & Household Savings Figure 10 - Top 10 economies by GDP - PPP Figure 11 - GDP Growth Factor Cost Figure 12 - India GDP - Rs. and USD Figure 13 - Export contribution to GDP Figure 14 - GDP Components by Sector Figure 15 - Index of Industrial Production - Growth Figure 16 - Fiscal Deficit Figure 17 - Inflation - WPI & CPI Figure 18 - Policy Interest Rates Figure 19 - Foreign Currency Reserves Figure 20 - Foreign Direct & Portfolio Investment Figure 21 - Rs. / USD & Rs. /GBP currency rates Figure 22 - NSE Nifty Figure 23 - BSE Sensex Figure 24 - NSE Market Capitalization Figure 25 - Life Insurers - Indian Promoter Category Figure 26 - Life Insurance Industry Size - GWP Figure 27 - Life Insurance Premium GWP Figure 28 - Life Insurance Premium CAGR Figure 29 - New Business Premiums GWP Figure 30 - New Business Growth Figure 31 - New Business Growth WPI Figure 32 - Life Insurance Penetration & Density - India Figure 33 - Comparison of Life Insurance Penetration - Global Markets Figure 34 - Life Insurance Penetration, New Business and Total Premiums Figure 35 - Comparison of Life Insurance Density - Global Markets Figure 36- State Share of Individual NB Premium Figure 37 - State Share of Individual NB - Policies Figure 38 - India States - Market Share Map Figure 39 - Individual New Business Growth - State wise Performance Figure 40 - %age share of Annual New Business for Q4 (JFM) Figure 41 - New Business Market Share LIC vs. Private. Sector Figure 42 - New Business Market Share Figure 43 - New Business Market Share Figure 44 Change in NB Market Share Industry level Figure 45 Change in NB Market Share within Private Sector Figure 46 - Industry Growth and Market Share Figure 47 - Private Sector Growth and Market Share Figure 48 - Total Industry Product Segments - New Business Figure 49 - New Business - Individual & Group Figure 50 - New Business - Individual & Group Figure 51 - Individual Business Market Share - Private Sector and LIC Figure 52 - Product Segments - Individual Business Figure 53 - Individual New Business - Premium Figure 54 - Individual New Business - Policy Figure 55 - Linked & Non Linked New Business Premium Figure 56 - New Business Linked vs Non Linked Figure 57 - Individual Life Insurance, New Business Figure 58 - Individual Life Insurance, Average Premium Figure 59 - Individual Pension - New Business Figure 60 - Pension Average Premium Figure 61 Individual Annuity - New Business Figure 62 - Individual Annuity - Average Premium Figure 63 - Individual Health - New Business Figure 64 Individual Health - Average Premium Figure 65 - Group - New Business Market Share Private. Sector and LIC

6 Figure 66 - Group New Business - Product Segments Figure 67 - Group New Business - Share by Premium Figure 68 - Group New Business - Lives Covered Figure 69 - Group Business Life Insurance Figure 70 - Group Business - Pension Figure 71 - Group Business - Annuity Figure 72 - Assets under Management Figure 73 LIC and Private Sector AUM Figure 74 - Private Sector - Top 5 Company by AUM Figure 75 - Number of Individual Agents Figure 76 - Channel Share of Group Business Industry Figure 77 - Channel Share of Group Lives - Industry Figure 78 - Channel Share of Individual New Business - Industry Figure 79- Channel Share of Individual NB - Private. Sector Figure 80 - Channel Share of Individual NB - LIC Figure 81 - Individual New Business, Average Premium by Channel Figure 82 - Channel Share of Individual New Business Figure 83 - First Year Commissions LIC and Private Sector Figure 84 First Year Commissions - Top 5 Private. Sector Figure 85 - First Year Commissions - Private. Sector (Select Others) Figure 86 - Renewal Commissions LIC and Private Sector Figure 87 - Renewal Commissions Top 5 Private. Sector Figure 88 - Renewal Commissions - Private. Sector (Others) Figure 89 - Conservation Ratios LIC and Private Sector Figure 90 - Conservation Ratio - Top 5 Private. Sector Figure 91 - Conservation Ratios - Private. Sector (Others) Figure 92 - Conservation Ratios (Private Sector) compared to NB Market Share Figure 93 - Opex / GWP Trending Figure 94 - Opex to GWP Ratios Figure 95 - Opex to GWP - Yearly Trending - Top 6 Figure 96 - Opex to GWP - Yearly Trending - Others Figure 97 - Market Share and Profitability Comparison List of Tables Table 1 Projected Life Expectancy at Birth Table 2 - Rural & Urban Households Table 3 - Rural & Urban Employment & Unemployment Table 4 - Savings and Investments as % of GDP Table 5 - Household Savings Growth Table 6 - Structure of Interest Rates Table 7 - Foreign Exchange Reserves Table 8 Foreign Direct & Portfolio Investment Table 9 - Balance of Payments Table 10 - Investment Allocation - Life Controlled Funds Table 11 - Investment Allocation - Pension Controlled Funds Table 12 - Obligations to Rural & Social Sector Table 13 - Corporate Tax Rates Table 14 - Individual Tax Rates Table 15 - Tax Rebates for Individuals Table 16 - Contribution limits for social security schemes Table 17 - Child Mortality and Life Expectancy Table 18 - Disease and Illness in India Table 19 - Healthcare Expenditure Table 20 - Public Spending on Healthcare in India Table 21 - Healthcare Infrastructure Table 22 - Life Insurance Companies - Partners Table 23 - Total Life Insurance Premiums USD Table 24 - Total Life Insurance Premiums Rs Table 25 - New Business Premiums - USD Table 26 - New Business Premiums - Rs. Table 27 - Life Insurance Penetration & Density for Indian States Table 28 - Share of Q4 (JFM) to Annual New Business

7 Table 29 - Premium Analysis - New Business and Renewals Table 30 - Minimum Capital Requirement for Insurance Brokers Table 31 - Derived Profitability of Life Insurers Table 32 - Capital Invested by Life Insurers Table 33 - Solvency Ratio of Life Insurers Ordering: Order Online - Order by Fax - using the form below Order by Post - print the order form below and send to Research and Markets, Guinness Centre, Taylors Lane, Dublin 8, Ireland.

8 Page 1 of 2 Fax Order Form To place an order via fax simply print this form, fill in the information below and fax the completed form to (from USA) or (from Rest of World). If you have any questions please visit Order Information Please verify that the product information is correct and select the format(s) you require. Product Name: Web Address: Office Code: Life Insurance Market Report - India SC Product Formats Please select the product formats and quantity you require: Electronic (PDF) - Single User: Electronic (PDF) - Enterprisewide: Quantity USD 846 USD 2651 Contact Information Please enter all the information below in BLOCK CAPITALS Title: Mr Mrs Dr Miss Ms Prof First Name: Last Name: Address: * Job Title: Organisation: Address: City: Postal / Zip Code: Country: Phone Number: Fax Number: * Please refrain from using free accounts when ordering (e.g. Yahoo, Hotmail, AOL)

9 Page 2 of 2 Payment Information Please indicate the payment method you would like to use by selecting the appropriate box. Pay by credit card: You will receive an with a link to a secure webpage to enter your credit card details. Pay by check: Please post the check, accompanied by this form, to: Research and Markets, Guinness Center, Taylors Lane, Dublin 8, Ireland. Pay by wire transfer: Please transfer funds to: Account number Sort code Swift code IBAN number Bank Address ULSBIE2D IE78ULSB Ulster Bank, Main Street, Blackrock, Co. Dublin, Ireland. If you have a Marketing Code please enter it below: Marketing Code: Please note that by ordering from Research and Markets you are agreeing to our Terms and Conditions at Please fax this form to: (646) or (646) From USA or From Rest of World