An Asian Insurance Report Focusing on India and China: Examine Business Opportunities, Trends and the Competitive Landscape
DUBLIN, Ireland--(Business Wire)--
Research and Markets
(http://www.researchandmarkets.com/research/6a1334/asian_insurance_fo)
has announced the addition of the "Asian Insurance Focus: India &
China" report to their offering.
Globalization is the key source which is bringing about an
"irreversible transformation" in the Asian insurance market. India and
China are "dynamically" driving the growth of insurance markets in
Asia and the outlook for this industry in the region is "sanguine"
despite short-term uncertainties.
Asia is becoming an important growth engine for global insurers.
The changing socio-economic dynamics present attractive opportunities.
According to a latest research report from HSBC, in order to be
long-term winners, life insurance companies in Asia need to diversify
their income streams such that at least 25% of earnings are sourced
overseas, while maintaining a dominant position in the domestic
market.
Many Asian financial services companies have exceeded the overall
growth rate for their domestic economies and are therefore looking to
expand globally or invest their shares in new markets. Another trend
predicted by PwC, was that intra-Asian trade would continue to
increase, particularly as the West decreased its investment in this
region. The increasing wealth and educational development in Asia, has
built a good foundation for the development of financial services.
Major Driving Factors:
-- Globalization
-- Deregulation which is opening up the markets
-- Cheaper and more effective distribution channels
-- Ongoing industry consolidation
-- Increment in the policy holder firms
-- Boost in Merger and Acquisitions activities
-- Changing socio-economic dynamics
-- Market offering wider margins
-- Unique combination of size, age profile and growth prospects
-- Many more..
Major Issues, Trends and Opportunities:
-- Continuous increment in intra-Asian trade
-- Need for diversification in the income streams
-- Rise in selling investment type products like annuities
-- Chance to compete directly with financial services companies
-- Focus on paying out more in claims
-- Drastic increment in marine and cargo insurance sectors
-- Developments in countries, who were closely regulated by their
government
-- Lack of proper agent quality
-- Change in the distribution method
-- Difficulties in building networks and brands
-- Hindrance in expansion in some of the emerging markets
-- Risk management concerns in insurance companies
-- Global Expansion
-- Transformation in the organizational system to win customer
loyalty
-- Weak equity markets
-- Impact of sub-prime
-- Regulatory and market obstacles in the emerging markets
Key Topics Covered:
-- Insurance - An Overview
-- Asian Insurance Sector
-- Chinese Insurance Sector
-- Indian Insurance Sector
-- Driving Factors
-- Trends, Issues and Opportunities
-- Government Regulations
-- Competitive Landscape
-- List of Charts
-- List of Tables
Companies Mentioned:
-- China Life Insurance Company Limited
-- China Pacific Insurance (Group) Co. Ltd.
-- Ping An Insurance (Group) Company of China
-- New China Life
-- Bajaj Allianz General Insurance Co.
-- ICICI Lombard General Insurance Company
-- IFFCO-TOKIO General Insurance (ITGI)
-- National Insurance Company Limited
-- The New India Assurance Co. Ltd.
-- The Oriental Insurance Company Limited
-- Reliance General Insurance
-- Royal Sundaram Alliance Insurance Co. Ltd
-- Tata AIG General
-- United India Insurance Company Limited
-- Bajaj Allianz Life Insurance Company
-- ICICI Prudential Life Insurance Company
For more information visit
http://www.researchandmarkets.com/research/6a1334/asian_insurance_fo
Research and Markets
Laura Wood
Senior Manager
press@researchandmarkets.com
Fax from USA: 646-607-1907
Fax from rest of the world: +353-1-481-1716
Copyright Business Wire 2008
