Boston, MA -- (SBWIRE) -- 11/11/2013 -- Since 2000, the non-life segment has transformed as it deregulated and opened its doors to overseas businesses. As a result, the non-life segment has grown significantly over the last decade, resulting in the number of non-life insurance companies increasing from nine in 2000 to 25 in 2012. In terms of gross written premiums, the non-life segment grew from INR232.7 billion (US$5.3 billion) in 2008 to INR433.1 billion (US$8.1 billion) in 2012, at a CAGR of 16.8% during the review period. Government initiatives for large-scale insurance programs such as the Pan-India Campaign and regulatory initiatives will drive the expansion of private insurers.

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Key Highlights

- The Indian insurance industry is one of the fastest-growing in the Asia-Pacific region and is highly competitive with the presence of both public and private companies.
- Despite the global economic crisis, the Indian non-life insurance segment continued to grow at a healthy CAGR of 16.8% during the review period (2008-2012).
- The growth in the income levels of the population due to booms in IT and other industries also added to the growth of the segment.
- The Insurance Regulatory and Development Authority's (IRDA's) proposal to increase the foreign direct investment (FDI) limit for insurance companies from 26% to 49% will be a key growth driver for the non-life insurance segment.
- The top five insurers accounted for 58.5% of the gross written premium of the segment at the end of 2012.

Scope

This report provides a comprehensive analysis of the non-life insurance segment in India:
- It provides historical values for India's non-life insurance segment for the report's 2008-2012 review period and forecast figures for the 2012-2017 forecast period
- It offers a detailed analysis of the key sub-segments in India's non-life insurance segment, along with forecasts until 2017
- It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, frauds and crimes, total assets, total investment income and retentions
- It analyses the various distribution channels for non-life insurance products in India
- Using Porter's industry-standard "Five Forces" analysis, it details the competitive landscape in India for the non-life insurance business
- It provides a detailed analysis of the reinsurance segment in India and its growth prospects
- It profiles the top non-life insurance companies in India and outlines the key regulations affecting them

Reasons to Get This Report

- Make strategic business decisions using historic and forecast data related to the Indian non-life insurance segment and each category within it
- Understand the demand-side dynamics, key market trends and growth opportunities within the Indian non-life insurance segment

Companies Mentioned in this Report: New India Assurance Co. Ltd, United India Insurance Co. Ltd, National Insurance Co. Ltd, Oriental Insurance Company Ltd, ICICI Lombard General Insurance Co. Ltd, Bajaj Allianz General Insurance Co. Ltd, IFFCO-Tokio General Insurance Co. Ltd, Reliance General Insurance Company Ltd, Agriculture Insurance Company, HDFC Ergo General Insurance Company Ltd

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