"India Insurance Report Q1 2012" is now available at Fast Market Research

(live-PR.com) - Key Insights And Key Risks

Regulations (and tax) pose more of a constraint on the insurance sector of India than on its peers in other countries. In Q411, the life insurers, who have suffered from low profitability, are still adjusting to rules, introduced by the regulator in late 2010, which make it far harder to sell Unit-Linked Insurance Plans (ULIPs). There

 

is a possibility that a slight relaxation of the rules, which is due to come into effect at the end of 2011, will make it significantly easier for the life insurers to develop ULIPs that are attractive to customers and profitable for them. In the meantime, many of the insurers are looking at ways of increasing capital. Some are partnering with banks. Others are taking steps to boost profitability prior to undertaking initial public offerings (IPOs).

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Although the restrictions on sales of ULIPs have hit new business premiums hard, the resilience of renewal premiums - both for the life segment as a whole and for individual companies that have commented on their business in India through 2011 - means that the segment continues to grow at near double-digit rates. Many of the leading players are developing products that are not affected by the (changing) rules in relation to ULIPs. A wildcard - and a very positive one - is that the regulator may allow the private sector insurers to distribute their products through the (currently) tied agency network of Life Insurance Corporation of India (LIC), the titan that accounts for about three quarters of all premiums. Ironically, the ULIP saga may result in a life segment that is far more dynamic, more liberalised and better capitalised than it was in early 2010.

The latest newsflow from the non-life segment indicates that premiums continue to grow rapidly. Indeed, the trend of the last three years or so, in which non-life penetration has been falling (if gradually) appears to have come to an end. It seems that the non-life companies have been able to pass onto their customers the higher costs incurred in non-motor related lines (such as higher reinsurance premiums, for instance). Within motor-related lines, the wildcard is the possible abolition of the pool from which compulsory motorists' third party liability (CMTPL) claims are paid. This could lead to an effective liberalisation of this important part of the non-life segment and an improvement in profitability. However, it is not clear what is the extent to which the non-life companies would be able to lift rates and premiums for motorrelated insurance.

Report Table of Contents:

Executive Summary
- Table: India's Total Premiums, 2008-2016
- Key Insights And Key Risks
SWOT Analysis
- India Insurance Industry SWOT
- India Political SWOT
- India Economic SWOT
- India Business Environment SWOT
Life Sector
- Asia Pacific Life Sector Overview
- Table: Asia Pacific Life Premiums, 2008-2016 (US$mn)
- India Life Sector Update
- Table: Breakdown Of First-Year Life Premiums, Year To March 2011 (INRmn)
- Life Industry Forecast Scenario
- Table: India's Life Premiums, 2008-2016
- Growth Drivers And Risk Management Projections
- Population
- Table: India's Insurance Key Sector Drivers - Demographics, 2008-2015
Non-Life Sector
- Asia Pacific Non-Life Sector Overview
- Table: Asia Pacific Non-life Premiums, 2008-2016
- India Non-Life Sector Update
- Table: Breakdown Of Non-Life Segment, Year To March 2011 (INRmn), part 1
- Table: Breakdown Of Non-Life Segment, Year To March 2011 (INRmn), part 2
- Non-Life Industry Forecast Scenario
- Table: India's Non-Life Premiums, 2008-2016
- Growth Drivers And Risk Management Projections
- Macroeconomic Outlook
- Table: India GDP Contribution To Growth, 2008-2016
- Political Stability Outlook
- Healthcare Insurance
- Epidemiology
- Table: Insurance Key Drivers, DALYs 2010-2016
- Motor
- Table: India, Insurance Key Drivers, Autos 2008-2015
- Tourism
- Table: India, Insurance Key Drivers, Tourism 2008-2015
Insurance Risk/Reward Ratings
- Table: India's Insurance Risk/Reward Ratings
- Table: Asia Pacific Insurance Risk/Reward Ratings
Competitive Landscape
- Competitive Landscape Analysis
- Major Players In India's Insurance Sector
- Table: Gross Written Non-Life Premiums, Year To March 2011 (INRmn)
- Table: First-Year Life Premiums, Six Months To September 30 2010 (INRmn)
Company Profiles
- Regional Company Profiles
- Ageas
- AEGON
- AIA Group Limited
- Allianz
- Aviva
- AXA
- BNP Paribas Cardif
- Chartis
- HDI-Gerling
- HSBC Insurance
- ING Group
- Liberty Mutual
- Manulife
- MetLife ALICO
- Prudential Financial
- Prudential plc
- QBE
- RSA
- Sun Life Financial
- The Principal
- Zurich Financial Services
BMI Methodology
- Insurance Risk/Reward Ratings
- Table: Insurance Risk/Reward Indicators And Rationale
- Table: Weighting Of Indicators

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