life insurance : india

7/31/2019 Life Insurance : India

1/32

www.datamonitor.comDatamonitor USA245 Fifth Avenue

4th Floor

New York, NY 10016USA

t: +1 212 686 7400

f: +1 212 686 2626

e: [email protected]

Datamonitor Europe119 Farringdon Road

London EC1R 3DA

United Kingdom

t: +44 20 7551 9000

f: +44 20 7675 7500


Datamonitor Middle East

and North AfricaDatamonitor

PO Box 24893Dubai, UAE

t: +49 69 9754 4517

f: +49 69 9754 4900

e: datamonitormena@

datamonitor.com

Datamonitor Asia PacificLevel 46, 2 Park Street

Sydney, NSW 2000

Australia

t: +61 2 8705 6900

f: +61 2 8705 6901


India - Life Insurance 0102 - 0976 - 2010

Datamonitor. This profile is a licensed product and is not to be photocopied Page 1

INDUSTRY PROFILE

Life Insurance in

India

Reference Code: 0102-0976

Publication Date: August 2011


2/32

EXECUTIVE SUMMARY



EXECUTIVE SUMMARY

Market value

The Indian life insurance market grew by 16.7% in 2010 to reach a value of $67.4 billion.

Market value forecast

In 2015, the Indian life insurance market is forecast to have a value of $110.8 billion, an increase of

64.4% since 2010.

Market segmentation I

Life insurance is the largest segment of the life insurance market in India, accounting for 86.4% of the

market's total value.

Market segmentation II

India accounts for 8% of the Asia-Pacific life insurance market value.

Market share

Life Insurance Corporation of India is the leading player in the Indian life insurance market, generating a

60.1% share of the market's value.

Market rivalry

Robust growth within the Indian life insurance market in recent years contributes towards lower level of

rivalry within the market.


3/32

CONTENTS



TABLE OF CONTENTS

EXECUTIVE SUMMARY 2

MARKET OVERVIEW 7

Market definition 7

Research highlights 8

Market analysis 9

MARKET VALUE 10

MARKET SEGMENTATION I 11

MARKET SEGMENTATION II 12

MARKET SHARE 13

FIVE FORCES ANALYSIS 14

Summary 14

Buyer power 16

Supplier power 17

New entrants 18

Substitutes 20

Rivalry 21

LEADING COMPANIES 22

Bajaj Allianz Life Insurance Company Limited 22

Life Insurance Corporation of India 23

SBI Life Insurance Co. Ltd. 25

MARKET FORECASTS 26

Market value forecast 26

MACROECONOMIC INDICATORS 27

APPENDIX 29

Methodology 29

Industry associations 30

Related Datamonitor research 30

Disclaimer 31


4/32

CONTENTS



ABOUT DATAMONITOR 32

Premium Reports 32

Summary Reports 32

Datamonitor consulting 32


5/32

CONTENTS



LIST OF TABLES

Table 1: India life insurance market value: $ billion, 200610 10

Table 2: India life insurance market segmentation I:% share, by value, 2010 11

Table 3: India life insurance market segmentation II: % share, by value, 2010 12

Table 4: India life insurance market share: % share, by value, 2010 13

Table 5: Bajaj Allianz Life Insurance Company Limited: key facts 22

Table 6: Life Insurance Corporation of India: key facts 23

Table 7: SBI Life Insurance Co. Ltd.: key facts 25

Table 8: India life insurance market value forecast: $ billion, 201015 26

Table 9: India size of population (million), 200610 27

Table 10:

India GDP (constant 2000 prices, $ billion), 200610 27

Table 11: India GDP (current prices, $ billion), 200610 27

Table 12: India inflation, 200610 28

Table 13: India consumer price index (absolute), 200610 28

Table 14: India exchange rate, 200610 28


6/32

CONTENTS



LIST OF FIGURES

Figure 1: India life insurance market value: $ billion, 200610 10

Figure 2: India life insurance market segmentation I:% share, by value, 2010 11

Figure 3: India life insurance market segmentation II: % share, by value, 2010 12

Figure 4: India life insurance market share: % share, by value, 2010 13

Figure 5: Forces driving competition in the life insurance market in India, 2010 14

Figure 6: Drivers of buyer power in the life insurance market in India, 2010 16

Figure 7: Drivers of supplier power in the life insurance market in India, 2010 17

Figure 8: Factors influencing the likelihood of new entrants in the life insurance market in India,

2010 18

Figure 9: Factors influencing the threat of substitutes in the life insurance market in India, 2010 20

Figure 10: Drivers of degree of rivalry in the life insurance market in India, 2010 21

Figure 11: India life insurance market value forecast: $ billion, 201015 26


7/32

MARKET OVERVIEW



MARKET OVERVIEW

Market definition

The value of the life insurance market is shown in terms of gross premium incomes from mortalityprotection and retirement savings plans. All currency conversions have been calculated using constant

2010 annual average exchange rates. The insurance market depends on a variety of economic and non-

economic factors and future performance is difficult to predict. The forecast given in this report is not

based on a complex economic model, but is intended as a rough guide to the direction in which the

market is likely to move.

For the purposes of this report, Asia-Pacific comprises Australia, China, India, Indonesia, Japan, New

Zealand, Singapore, South Korea, Taiwan, and Thailand.


8/32

MARKET OVERVIEW



Research highlights

The Indian life insurance market had total gross written premiums of $67,430.3 million in 2010,

representing a compound annual growth rate (CAGR) of 16.3% between 2006 and 2010.

The life insurance segment was the market's most lucrative in 2010, with total gross written premiums of

$58,262.8 million, equivalent to 86.4% of the market's overall value.

The performance of the market is forecast to decelerate, with an anticipated CAGR of 10.4% for the five-

year period 2010 - 2015, which is expected to drive the market to a value of $110,797.2 million by the end

of 2015.


9/32

MARKET OVERVIEW



Market analysis

The Indian life insurance market has been growing at a double digit rate. This trend, with some

deceleration only, is expected to continue towards the end of the forecast period.

The Indian life insurance market had total gross written premiums of $67,430.3 million in 2010,

representing a compound annual growth rate (CAGR) of 16.3% between 2006 and 2010. In comparison,

the Chinese market increased with a CAGR of 28.1%, and the Japanese market declined with a

compound annual rate of change (CARC) of -2.4%, over the same period, to reach respective values of

$142,792 million and $435,701 million in 2010.

The life insurance segment was the market's most lucrative in 2010, with total gross written premiums of

$58,262.8 million, equivalent to 86.4% of the market's overall value. The pension/annuity segment

contributed gross written premiums of $9,167.6 million in 2010, equating to 13.6% of the market's

aggregate value.

The performance of the market is forecast to decelerate, with an anticipated CAGR of 10.4% for the five-year period 2010 - 2015, which is expected to drive the market to a value of $110,797.2 million by the end

of 2015. Comparatively, the Chinese and Japanese markets will grow with CAGRs of 10.7% and 0.3%

respectively, over the same period, to reach respective values of $237,526 million and $441,274.2 million

in 2015.


10/32

MARKET VALUE



MARKET VALUE

The Indian life insurance market grew by 16.7% in 2010 to reach a value of $67.4 billion.

The compound annual growth rate of the market in the period 200610 was 16.3%.

Table 1: India life insurance market value: $ billion, 200610

Year $ billion Rs. billion billion % Growth

2006 36.9 1,696.0 27.8

2007 43.8 2,013.5 33.0 18.7%

2008 48.3 2,217.9 36.4 10.2%

2009 57.8 2,654.5 43.5 19.7%

2010 67.4 3,097.5 50.8 16.7%

CAGR: 200610 16.3%

Source: Datamonitor D A T A M O N I T O R

Figure 1: India life insurance market value: $ billion, 200610



11/32

MARKET SEGMENTATION I



MARKET SEGMENTATION I

Life insurance is the largest segment of the life insurance market in India, accounting for 86.4% of the

market's total value.

The pension/annuity segment accounts for the remaining 13.6% of the market.

Table 2: India life insurance market segmentation I:% share, by value, 2010

Category % Share

Life insurance 86.4%

Pension/annuity 13.6%

Total 100%


Figure 2: India life insurance market segmentation I:% share, by value, 2010



12/32

MARKET SEGMENTATION II



MARKET SEGMENTATION II

India accounts for 8% of the Asia-Pacific life insurance market value.

Japan accounts for a further 51.5% of the Asia-Pacific market.

Table 3: India life insurance market segmentation II: % share, by value, 2010

Category % Share

Japan 51.5%

China 16.9%

South Korea 8.4%

India 8.0%

Rest of Asia-Pacific 15.3%

Total 100%


Figure 3: India life insurance market segmentation II: % share, by value, 2010



13/32

MARKET SHARE



MARKET SHARE

Life Insurance Corporation of India is the leading player in the Indian life insurance market, generating a

60.1% share of the market's value.

ICICI-Prudential Life Insurance Co. Ltd. accounts for a further 5.3% of the market.

Table 4: India life insurance market share: % share, by value, 2010

Company % Share

Life Insurance Corporation of India 60.1%

ICICI-Prudential Life Insurance Co. Ltd. 5.3%

Bajaj Allianz Life Insurance Co. Ltd. 3.7%

SBI Life Insurance Co. Ltd. 3.3%

Other 27.6%

Total 100%


Figure 4: India life insurance market share: % share, by value, 2010



14/32

FIVE FORCES ANALYSIS




The life insurance market will be analyzed taking insurance companies as players. The key buyers will be

taken as consumers (both individual as well as corporate), and ict manufacturers, software houses and

reinsurance companies as the key suppliers.

Summary

Figure 5: Forces driving competition in the life insurance market in India, 2010


Robust growth within the Indian life insurance market in recent years contributes towards lower level of

rivalry within the market.

Buyer power is moderate overall as is the ability of new players in entering the market place with supplier

power remaining strong. Despite savings and investments being among the alternative methods of

insuring ones self, substitutes possess a weak force in the market, due to the expertise and capital

required for investment.

The demand for life insurance is determined by various factors: i.e. gross domestic product, average

length of life expectancy, inflation and interest rates. Additionally, in developing countries, factors such asmarket structure, the presence of foreign investors and financial development of economies should be

taken into consideration. There are also various reasons for getting a life insurance policy. Such a policy

guarantees a replacement income for ones dependents in case of death or major illness. Some types of

life insurance create a cash value that, if not paid out as a death benefit, can be borrowed or withdrawn

on the owners request, which makes it an important element of sound financial planning and investment.


15/32




Since most people consider paying their life insurance policy premiums a high priority, buying a cash-

value type policy can create a kind of forced savings plan. Various companies can also use group life

insurance to cover their employees or corporate-owned life insurance (COLI). COLI was originally

purchased by companies to hedge against the financial cost of losing key employees to unexpected

death, the risk of recruiting and training replacements of necessary or highly-trained personnel, or to fund

corporate obligations to redeem stock upon the death of an owner.

A point to consider in the current economic climate is the drop in real income during 2009. Followed by

slow growth in 2010 this may limit the demand for insurance products, which are unlikely to be considered

a priority by households at present.


16/32




Buyer power

Figure 6: Drivers of buyer power in the life insurance market in India, 2010


Due to the nature of the market and importance of the product offered, there are many individual

consumers, diminishing buyer power, as the impact of losing an individual customer is rather marginal.

Large corporate clients have a lot more bargaining power with insurance companies as they usually pay

millions of dollars a year in premiums and losing such high-margin corporate clients can negatively affecta player's revenues. This increases buyer power to some extent. Customers in this market are not

particularly loyal to one specific company and are willing to shop round for the best deal. Online

comparison sites allow customers to choose policies that meet their individual insurance needs, further

boosting buyer power.

However buyer power is weakened by the existence of switching costs, as for individuals, switching from

one player to another will often involve surrendering a policy early (an exception is where a term policy

reaches its end and the buyer chooses a different company for their next policy). The payout on a

surrendered policy may be taxable, whereas the payout on the death of the insured person is tax-free;

also early surrender of an index-linked plan may mean that the policyholder misses out on some interest

payments. Buyer power is assessed as moderate overall.


17/32




Supplier power

Figure 7: Drivers of supplier power in the life insurance market in India, 2010


Suppliers in the life insurance market include ICT manufacturers and software houses. Certain insurance

companies require specialized computer systems, tailored towards their unique range of products or

services. Underwriters, for instance, use computer applications known as "smart systems" to manage

risks. These types of systems are complex and are often linked up to an internet databases. A secure andreliable ICT infrastructure is essential and companies are often reliant on one supplier. This is normally a

large and reputable company, such as IBM. Such suppliers may have their own unique and patented

systems. This creates a disincentive for insurance companies to switch suppliers as many employers are

reluctant to spend the money training staff on new systems, which increases supplier power. Despite

many insurance companies maintaining their own IT departments, there is little likelihood of significant

backward integration, which further strengthens suppliers (although it is equally unlikely that suppliers

would attempt to integrate forwards into insurance services). Life insurers also require the services of

reinsurance companies, in order to reduce their own exposure to insured risks. Overall supplier power is

strong in the life insurance market.


18/32




New entrants

Figure 8: Factors influencing the likelihood of new entrants in the life insurance market in India,

2010


It is believed that increasing affluence, aging population and low penetration of insurance coverage at a

time when the market in industrialized countries is relatively saturated, will help transform the country's

largely untapped life insurance market into one of the world's fastest growing over the next five years,

creating business opportunities for newcomers. There are public and private firms operating within India's

insurance market with state-owned Life Insurance Corp of India (LIC) still having a stranglehold with a

market share of over 60 per cent. But private players have moved aggressively, chasing for business after

being allowed to compete with LIC in 2000. Overseas insurers where allowed to operate with the passing

of the Insurance Regulatory and Development Authority (IRDA) Act in 1999.

Barriers to entry into life insurance market are often described as low; however new players entering the

market must decide whether to initially enter on a large or small scale, with each holding varying benefits

and risks. The opportunity to enter the market on a small scale boosts the threat of new entrants. Entry

into the market for well developed insurance companies is capital intensive and players need to ensure

some level of integration if market entry is to be a success. Leading incumbents have strong reputations

and consumer recognition and they usually offer a vast range of services with which new entrants must

compete. Most of the threat from new entrants lies within the insurance industry itself. Repeat business is

difficult to attain in this market, since consumers will typically replace their life insurance policies at

infrequent intervals only.


19/32




This means that finding new custom is vital, and access to distribution networks is a key criterion for

successful market entry. In India, the former state monopoly, Life Insurance Corporation has a network of

more than 2,000 branches, constituting a distribution network that newcomers may find hard to match.

Some companies have carved out niche areas in which they underwrite insurance. These insurance

companies are fearful of being squeezed out by the big players. Another threat for many insurance

companies is other financial services companies entering the market. Indeed some banks and investment

banks have started to offer insurance products, while certain financial commitments, such as mortgages,

have life policies attached to them. In some countries however, regulations are in place to prevent banks

and other financial firms from entering the market. Government regulation is generally stringent, with

Insurance Regulatory and Development Authority (IRDA) imposing capital requirements of $24 million

minimum for new entrants. This fact limits the threat of newcomers. The likelihood of new entrants is

assessed as moderate.


20/32




Substitutes

Figure 9: Factors influencing the threat of substitutes in the life insurance market in India, 2010


There are a number of alternatives to taking out an insurance policy, i.e. in form of other financial

products, such as savings and investments. Savings and investments include deposits, mutual funds and

direct investments in equities and bonds. Wills are also a way of accounting for risk and protecting family

members after death. These options could be a cheaper alternative to life insurance, but savings do notguarantee protection in the same way as life insurance, which reduces the benefit of this option.

Consumers can adopt risk management strategies, such as 'Self-Insurance', whereby an eligible risk is

retained, but a calculated amount of money is set aside. An organization could choose to operate its own

'captive' structure and form its own insurance company subsidiary. Although these are viable substitutes

they require a certain amount of expertise and capital. The threat of substitutes with respect to the non-life

insurance market is therefore assessed as weak.


21/32




Rivalry

Figure 10: Drivers of degree of rivalry in the life insurance market in India, 2010


The life insurance market in India is rather concentrated, when compared to other countries in region.

Although there are around 15 companies active in this market, the state-owned Life Insurance

Corporation of India is by far the largest. Players within the life insurance market offer similar services but

some are diversified, and pursue a number of non-life insurance lines, which tends to ease the rivalry tosome extent. The leading players are large companies offering similar life products, although there are a

number of different plans including temporary, permanent and various subclasses. Because of the

homogenous nature of the leading players insurance has become more like a commodity - an area in

which an insurance company with a low cost structure, greater efficiency and better customer service will

beat out competitors. Entry barriers, though not insignificant, are lower than exit barriers. For example,

the regulatory system, through the imposition of such measures as capital adequacy, is designed to

prevent insurers from going out of business, as this would be to the detriment of policyholders. When exit

barriers in a market are high, players may weather poor market conditions where necessary - but this

tends to boost rivalry. Insurance companies also use higher investment returns and a variety of insurance

investment products to try to lure in customers. This leads to greater consolidation within the market.Larger companies prefer to take over or merge with other companies rather than spend the money to

market and advertise to people. Overall, there is moderate rivalry in the market.


22/32

LEADING COMPANIES



LEADING COMPANIES

Bajaj Allianz Life Insurance Company Limited

Table 5: Bajaj Allianz Life Insurance Company Limited: key facts

Head office: GE Plaza, Airport Road Yerawada, Pune, 411006, India

Telephone: 91 20 6602 6777

Fax: 91 20 6602 6789

Website: www.bajajallianzlife.co.in

Financial year-end: December

Source: company website D A T A M O N I T O R

Bajaj Allianz Life Insurance Company Limited, joint venture between global insurance company Allianz

and motorcycle maker Bajaj Auto, provides life insurance including regular and single premium plans,

traditional products, term plans, pension plans, women insurance, wealth insurance and group insurance.

The company provides its life insurance and retirement products to customers from more than 1,100

branch locations throughout India,

Bajaj Allianz Life also offers bancassurance and provides financial services through partnership tie-ups

with Standard Chartered Bank, Syndicate Bank, and other banks.

It caters to a wide spectrum of customers and needs, including companies, individuals, and families.Products include traditional, unit linked, and term life policies, as well as pensions and annuities.

Key Metrics

The company is a private entity and not obliged to publish its financial details.


23/32

LEADING COMPANIES



Life Insurance Corporation of India

Table 6: Life Insurance Corporation of India: key facts

Head office: Yogakshema, Jeevan Bima Marg, Mumbai - 400021, Maharashtra,IND

Telephone: 22 2613 7545

Website: www.licindia.in

Financial year-end: March


The Life Insurance Corporation of India (LIC or the group) is primarily a life insurance service provider.

LIC operates through five business segments: individual assurance, general annuities, pensions, unitlinked business, and group insurance business. However, the group presents results under four business

segments: individual assurance, unit linked business, group schemes, and individual pension.

The group's products can be classified into insurance plans, pension plans, unit plans, special plans, and

group plans.

Insurance plans cater to different needs of individuals. These plans include children plans, plans for

handicapped, endowment plans, plans for high networth individuals (HNIs), money back plans, whole life,

term assurance, and joint plans.

Pension plans are for planning a secure future.

A unit linked insurance plan (ULIP) acts just like a savings vehicle, but also has the benefits of an

insurance contract. When an investor purchases units in a ULIP, he or she is purchasing units along with

a larger number of investors, just like an investor would purchase units in a mutual fund.

Special plans are not regular plans but are launched during special events. These plans are a blend of

insurance, and investment.

Group insurance scheme is life insurance protection to groups of people. This scheme caters to the

needs of employers, associations, societies etc.

Key Metrics

The group recorded revenues of INR2,987,215.5 million ($66,375.9 million) during the financial year (FY)

ended March 2010, an increase of 49.2% over FY2009. The operating profit was $2,752,881.5 million


24/32

LEADING COMPANIES



($61,169 million) in FY2010, an increase of 52.2% over FY2009.The net profit was $10,607.2 million

($235.7 million) in FY2010, an increase of 10.8% over FY2009.


25/32

LEADING COMPANIES



SBI Life Insurance Co. Ltd.

Table 7: SBI Life Insurance Co. Ltd.: key facts

Head office: G N Vaidya Marg, 2nd Floor, Turner Morrison Building, 400 023Mumbai, India

Telephone: 91 2266392000

Website: www.sbilife.co.in

Financial year-end: March


The company is engaged in underwriting insurance and pension products. It is a privately held company

based in India. The registered head office of the company is located in Mumbai, India.

The company offers a number of products such as individual products, group products, and health

products. Its individual products include unit linked products, which are an attempt to meet all its financial

and insurance needs; pension products including SBI Life - Horizon, SBI Life - Unit Plus, SBI Life -

Lifelong Pensions, and SBI Life Immediate Annuity; pure protection products and protection cum

savings products. The group products consist of retirement solutions, protection plans, specialized term

insurance, and group micro insurance.

The company is a joint venture between the State Bank of India, which has the largest banking franchise

in India, and BNP Paribas Assurance, which is the life and property and casualty insurance unit of BNP

Paribas.

Key Metrics

Financial information is not available for SBI.


26/32

MARKET FORECASTS



MARKET FORECASTS

Market value forecast

In 2015, the Indian life insurance market is forecast to have a value of $110.8 billion, an increase of64.4% since 2010.

The compound annual growth rate of the market in the period 201015 is predicted to be 10.4%.

Table 8: India life insurance market value forecast: $ billion, 201015

Year $ billion Rs. billion billion % Growth

2010 67.4 3,097.5 50.8 16.7%

2011 75.8 3,480.7 57.1 12.4%

2012 84.4 3,877.2 63.6 11.4%

2013 93.1 4,276.9 70.1 10.3%

2014 101.9 4,680.0 76.8 9.4%

2015 110.8 5,089.6 83.5 8.8%

CAGR: 201015 10.4%


Figure 11: India life insurance market value forecast: $ billion, 201015



27/32

MACROECONOMIC INDICATORS




Table 9: India size of population (million), 200610

Year Population (million) % Growth

2006 1,119.8 1.5%

2007 1,136.6 1.5%

2008 1,153.1 1.5%

2009 1,160.8 0.7%

2010 1,176.7 1.4%


Table 10: India GDP (constant 2000 prices, $ billion), 200610

Year Constant 2000 Prices, $ billion % Growth

2006 666.1 9.4%

2007 730.3 9.6%

2008 767.6 5.1%

2009 819.5 6.8%

2010 904.3 10.3%


Table 11: India GDP (current prices, $ billion), 200610

Year Current Prices, $ billion % Growth

2006 847.3 12.6%

2007 1,082.4 27.7%

2008 1,171.4 8.2%

2009 1,246.2 6.4%

2010 1,539.4 23.5%



28/32




Table 12: India inflation, 200610

Year Inflation Rate (%)

2006 5.7%2007 6.4%

2008 8.4%

2009 10.9%

2010 12.0%


Table 13: India consumer price index (absolute), 200610

Year Consumer Price Index (2000 = 100)2006 128.2

2007 136.4

2008 147.8

2009 163.9

2010 183.5


Table 14: India exchange rate, 200610

Year Exchange rate ($/Rs.) Exchange rate (/Rs.)

2006 45.3188 56.8596

2007 41.3570 56.5898

2008 43.8145 64.1115

2009 48.8500 67.9264

2010 45.9361 60.9708



29/32

APPENDIX



APPENDIX

Methodology

Datamonitor Industry Profiles draw on extensive primary and secondary research, all aggregated,analyzed, cross-checked and presented in a consistent and accessible style.

Review of in-house databases Created using 250,000+ industry interviews and consumer surveys

and supported by analysis from industry experts using highly complex modeling & forecasting tools,

Datamonitors in-house databases provide the foundation for all related industry profiles

Preparatory research We also maintain extensive in-house databases of news, analyst

commentary, company profiles and macroeconomic & demographic information, which enable our

researchers to build an accurate market overview

Definitions Market definitions are standardized to allow comparison from country to country. The

parameters of each definition are carefully reviewed at the start of the research process to ensure they

match the requirements of both the market and our clients

Extensive secondary research activities ensure we are always fully up-to-date with the latest

industry events and trends

Datamonitor aggregates and analyzes a number of secondary information sources, including:

- National/Governmental statistics

- International data (official international sources)

- National and International trade associations

- Broker and analyst reports

- Company Annual Reports

- Business information libraries and databases

Modeling & forecasting tools Datamonitor has developed powerful tools that allow quantitative

and qualitative data to be combined with related macroeconomic and demographic drivers to create

market models and forecasts, which can then be refined according to specific competitive, regulatory

and demand-related factors

Continuous quality control ensures that our processes and profiles remain focused, accurate and

up-to-date


30/32

APPENDIX



Industry associations

International Association of Insurance Supervisors

c/o Bank for International Settlements, CH-4002 Basel, SwitzerlandTel.: 41 61 225 7300

Fax: 41 61 280 9151

www.iaisweb.org

Banking, Finance and Insurance Commission

Rue du Congrs 12-14, 1000 Brussels, Belgium

Tel.: 32 2 220 5211

Fax: 32 2 220 5323

www.cbfa.be

Related Datamonitor research

Industry Profile

Global Life Insurance

Life Insurance in China

Life Insurance in Europe

Life Insurance in Asia-Pacific


31/32

APPENDIX



Disclaimer

All Rights Reserved.

No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form

by any means, electronic, mechanical, photocopying, recording or otherwise, without the prior

permission of the publisher, Datamonitor plc.

The facts of this report are believed to be correct at the time of publication but cannot be guaranteed.

Please note that the findings, conclusions and recommendations that Datamonitor delivers will be

based on information gathered in good faith from both primary and secondary sources, whose

accuracy we are not always in a position to guarantee. As such Datamonitor can accept no liability

whatever for actions taken based on any information that may subsequently prove to be incorrect.


32/32

ABOUT DATAMONITOR


ABOUT DATAMONITOR

The Datamonitor Group is a world-leading provider of premium global business information, delivering

independent data, analysis and opinion across the Automotive, Consumer Markets, Energy & Utilities,

Financial Services, Logistics & Express, Pharmaceutical & Healthcare, Retail, Technology and

Telecoms industries.

Combining our industry knowledge and experience, we assist over 6,000 of the worlds leading

companies in making better strategic and operational decisions.

Delivered online via our user-friendly web platforms, our market intelligence products and services

ensure that you will achieve your desired commercial goals by giving you the insight you need to best

respond to your competitive environment.

Premium Reports

Datamonitor's premium reports are based on primary research with industry panels and consumers.We gather information on market segmentation, market growth and pricing, competitors and products.

Our experts then interpret this data to produce detailed forecasts and actionable recommendations,

helping you create new business opportunities and ideas.

Summary Reports

Our series of company, industry and country profiles complements our premium products, providing

top-level information on 30,000 companies, 3,000 industries and 100 countries. While they do not

contain the highly detailed breakdowns found in premium reports, profiles give you the most important

qualitative and quantitative summary information you need - including predictions and forecasts.

Datamonitor consulting

We hope that the data and analysis in this profile will help you make informed and imaginative business

decisions. If you have further requirements, Datamonitors consulting team may be able to help you. For

more information about Datamonitors consulting capabilities, please contact us directly at

[email protected].

life insurance : india

Documents