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New Market Report: Life Insurance in BRIC Countries: Market Opportunities and Entry Strategies, Analyses and Forecasts to 2015

Recently published research from BRICdata, "Life Insurance in BRIC Countries: Market Opportunities and Entry Strategies, Analyses and Forecasts to 2015", is now available at Fast Market Research

 

Williamstown, MA -- (SBWIRE) -- 01/12/2012 -- The BRIC (Brazil, Russia, India and China) countries have become the focus for global business investments due to their significant growth prospects as a result of several favorable economic and demographic factors. The life insurance markets in BRIC countries are currently growing at a rapid rate. The life insurance growth will be supported by a multitude of factors, including robust economic growth, favorable demographics, increasing disposable income and rising life expectancy. The BRIC life insurance markets have also benefitted from the increased penetration of various distribution channels and growing awareness of the advantages of life insurance in the countries. The life insurance markets are expected to experience considerable growth, and each market will register a CAGR of more than 10% during the forecast period. The individual life insurance category, rather than the group insurance category, dominates the respective life insurance markets of the BRIC countries. Bancassurance, which will be a major growth driver for the life insurance markets in most emerging countries, is expected to increase its share of life insurance policy sales in Brazil and Russia.

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Key Highlights

- Life insurance growth will be supported by a multitude of factors, including the BRIC countries' robust economic growth, favorable demographics, increasing disposable income and rising life expectancy
- The life insurance markets in China and India are expected to more than double during the forecast period, and Brazil and Russia will also register strong growth rates
- The IRDA's proposal to increase the limit on foreign direct investment from 26% to 49% will be a key growth driver for the Indian life insurance market
- Brazil's life insurance market is concentrated and contains a few companies with very large market shares
- The Russian life insurance market contributed just 2.2% of the total written premiums generated by the insurance industry in 2010
- By 2020, The Chinese insurance industry is expected to become larger than Japan's, making it the second-largest insurance industry in the world, trailing only the US

Scope

This report provides an extensive analysis of the life insurance market in the BRIC countries:

- It provides historical and forecast market sizes for the life insurance market for the report's 2006-2010 review period and forecast figures for the 2011-2015 forecast period
- It offers a detailed analysis of the key sub-categories in the life insurance industry, along with market forecasts until 2015
- It covers a comprehensive list of indicators, including written premium, incurred loss, loss ratio, combined ratio and investments of the life insurance industry in each of the BRIC countries
- It analyses the various distribution channels with their future outlook for life insurance products in the BRIC countries

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