Indian Insurance Market sector companies in India was valued around Rs 434.3 Billion (6.7 USD) and is anticipated to witness a steep rise by generating an estimated revenue of US$ XXXX over the forecast period. According to latest study conducted by our analysts and industry experts, Indian insurance market is expected to grow at a CAGR of 15% during the forecast period, i.e. 2017-2025.  Insurance industry plays very important role in the Indian market. There are overall 53 insurance companies that are provide both life insurance and general insurance services to the customers a cross country.

Market Overview:

The life insurance sector recorded a new premium income of Rs. 1.38 trillion during forecast period, i.e. April 2015 to March 2016. This showed an impressive growth rate of 22.5% in the premium income, same as the general insurance sector core policy on two-wheeler insurance recorded a 12% of growth by collecting a premium income of Rs. 105.25 billion during the forecast years, i.e. April 2016 to March 2017. The life insurance sector is the largest policies holder and offers in the country that is 360 million, which number to be the largest in the world. Indian insurance market will double in size over the next five years and the life insurance sector is expected to collect more than US $160 billion. Currently, the general insurance business in the Indian market accounts for more than Rs. 70,000 Crore premiums yearly, and it is growing at a positive rate of 17% every year. As per analysis the second highly populous country in the world, Indian insurance market calculates for less than 1.5% of the world’s total insurance market.

Indian Insurance Market Growth Opportunities (Revenue, Growth) By 2017-2025

Development in Indian Insurance Market

The important development and new investment in the Indian insurance market is the UK Based Insurance company Lloyd’s entering the Indian market by early 2017.

HDFC ERGO Car Insurance and Max Life Insurance Co. Ltd. are merged and expected to establish India’s largest private sector insurance company.

Bennett Coleman & Co. Ltd., famous name in the media and marketing industry with multiple broadcast and publications in different states languages across the country, has taken decision to buy Religare Enterprises Ltd.

Recent development is that the State Bank of India has been announced that Paribas Cardif is planning to revise its stake in SBI Life Insurance from 26% to 36%.

Indian Insurance Market Study Objective

1. To forecast the market size of insurance market, along with describing and defining the market, in terms of volume and revenue.

2. Market analysis and forecast of insurance market on the basis of region, substrate and application or end-use industry.

3. To analyze and elaborate significant factors that will have major impact on the growth of insurance market, such as drivers, restraints, challenges and opportunities.

4. Strategic analysis of micromarkets, in terms of individual prospects, opportunities, growth trends and their involvement in overall market.

5. To provide detailed analysis of competitive and strategic developments in the insurance market like new product launch, partnership & agreement, investment & expansion, and company merger & acquisitions.

6. Analysis of market opportunities for stakeholders, in order to provide a competitive landscape for market players.

7. To profile major market players, and to analyze their market shares and essential competencies comprehensively.

Bottom-up and top-down are two main approaches that were taken into account to anticipate and validate the market size of insurance market, and to reach the anticipated market size of several dependent submarkets. The research and study involved massive utilization of secondary data sources, several directories, private and government websites, and authentic databases, to collect or gather market-oriented as well as technical information for the study of insurance market commercially.

Insurance Market: Secondary Research

To recognize and collect authentic and market-oriented information crucial for the research study, several secondary sources have been approached and referred. Press releases, white papers, companies annual reports, investor presentations, and articles present on trustworthy websites, databases, and certified publications are some of the significant secondary research sources that have been used to prepare the report. The data collected as secondary data have been obtained from various reliable journals and associations. The data obtained through secondary sources has been validated through primary research.

Insurance Market: Primary Research

For conducting primary research, several primary sources of the demand as well as supply sides have been approached and interviewed for obtaining quantitative and qualitative information crucial for the report. Vice Presidents, CEOs, technology directors, Product Managers, Marketing Directors and other executives of giant market players and organizations operating in insurance market are included as primary sources of the supply side.

After performing comprehensive engineering of insurance market (which includes market size estimations, calculations regarding market statistics, market forecasting, data triangulation, and market breakdown), detailed and vast primary research has been carried out to collect information along with verifying and validating the significant and critical market numbers arrived at.

Key Players

Major players performing in Indian insurance market are LIC Co., Birla Sun Life, Reliance Life Insurance, ICICI Life Insurance, HDFC Insurance, Bajaj Allianz Life Insurance, MetLife Inc., SBI Life Insurance, Max Life Insurance, New India Assurance Company, Tata AIA Life Insurance and ING Vysya Life Insurance. To remain competitive in the market, significant market players are adopting unique advertising techniques of insurance schemes and launching new schemes in the Indian insurance market.

Indian Insurance Market Report Offer You!

Indian Insurance Market study report gives an idea about market size, share, stock, equity, investment and total price analysis. Also, the report provides comprehensively industry insights with all major factors such as market credit, allocation, demand, distribution, market scope, key players, end user & applications, provisions, livestock, commodities and industry economics analysis, future growth & forecast.

The market report includes all depth data like pre-market emphasis, market survey, market investment, industry advice, portfolio, finance, access, trade, market exploration, industry review and market predication & projection to develop effective strategies for optimizing their market position.

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