Reinsurance in India, Key Trends and Opportunities to 2016

Timetric, October 2012, Pages: 92

Synopsis
The report provides in depth market analysis, information and insights into the Indian reinsurance market, including:
- The Indian reinsurance market’s growth prospects by reinsurance categories
- The Indian reinsurance market’s growth prospects by reinsurance ceded from direct insurance segments
- The competitive landscape in the Indian reinsurance market

Summary
The Indian reinsurance market value grew during the review period (2007-2011). The increase was partially due to the robust growth posted by the insurance industry, coupled with the growing participation of foreign reinsurance companies. This was further supported by India’s positive economic growth, increasing employment rates and rising levels of life expectancy. These indicators are expected to support the Indian reinsurance segment over the forecast period (2012-2016). The majority of Indian reinsurance is sourced from the General Insurance Corporation (GIC) and European reinsurers with bases in Asia.

Scope
This report provides a comprehensive analysis of the reinsurance market in India:
- It provides historical values for India’s reinsurance market for the report’s 2007–2011 review period and forecast figures for the 2012–2016 forecast period
- It offers a detailed analysis of the key sub-segments in India’s reinsurance market, along with market forecasts until 2016
- It provides a detailed analysis of the reinsurance ceded from various direct insurance markets in India and its growth prospects
- It profiles the top reinsurance companies in India

Reasons To Buy
- Make strategic business decisions using in depth historic and forecast market data related to the Indian reinsurance market and each sector within it
- Understand the demand-side dynamics, key market trends and growth opportunities within the Indian reinsurance market
- Assess the competitive dynamics in the reinsurance market
- Identify the growth opportunities and market dynamics within key product categories
- Gain insights into key regulations governing the Indian insurance market and its impact on companies and the market's future

Key Highlights
- The growth in the Indian reinsurance segment was partially due to the robust growth posted by the insurance industry, coupled with the growing participation of foreign reinsurance companies.
- The Indian reinsurance segment’s growth is dependent on the growth of the country’s life, non-life and personal accident and health insurance segments.
- The percentage of reinsurance ceded is higher for non-life and personal accident and health insurance than for life insurance.
- Leading global reinsurance company Berkshire Hathaway Re has entered the reinsurance segment and will be the lead reinsurer for Bajaj Allianz and National Insurance.

1 Executive Summary
2 Introduction
2.1 What is this Report About?
2.2 Definitions
2.3 Methodology
3 India Insurance Industry Attractiveness
3.1 Insurance Industry Market Size, 2007–2016
3.2 Reinsurance Growth Dynamics and Challenges
3.2.1 Reinsurance market size, 2007–2016
3.2.2 Reinsurance market size by type of insurance, 2007–2016
4 Key Industry Trends and Drivers
4.1 Fundamental Business Drivers
4.2 Life Insurance Market Drivers
4.3 Non-Life Insurance Market Drivers
4.4 Personal Accident and Health Insurance Market Drivers
5 Competitive Landscape and Strategic Insights
5.1 Overview
5.2 General Insurance Corporation of India – Company Overview
5.2.1 General Insurance Corporation of India – key facts
5.2.2 General Insurance Corporation of India – key financials
6 Business Environment and Country Risk
6.1 Business Confidence
6.1.1 Market capitalization trend – Bombay Stock Exchange, India
6.2 Economic Performance
6.2.1 GDP at constant prices (US dollar)
6.2.2 GDP per capita at constant prices (US dollar)
6.2.3 GDP at current prices (US dollar)
6.2.4 GDP per capita at current prices (US dollar)
6.2.5 GDP by key segments
6.2.6 Agricultural net output at current prices (INR)
6.2.7 Agricultural net output at current prices (US dollar)
6.2.8 Agricultural net output at current prices as a percentage of GDP
6.2.9 Manufacturing net output at current prices (Indian Rupees)
6.2.10 Manufacturing net output at current prices (US dollar)
6.2.11 Manufacturing net output at current prices as a percentage of GDP
6.2.12 Mining, manufacturing and utilities net output at current prices (Indian Rupee)
6.2.13 Mining, manufacturing and utilities at current prices (US dollar)
6.2.14 Mining, manufacturing and utilities at current prices, as percentage of GDP
6.2.15 Construction net output at current prices (Indian Rupee)
6.2.16 Construction net output at current prices, (US dollar)
6.2.17 Construction net output at current prices as a percentage of GDP
6.2.18 Inflation rate
6.2.19 Current account balance as a percentage of GDP
6.2.20 Exports as a percentage of GDP
6.2.21 Imports as a percentage of GDP
6.2.22 Exports growth
6.2.23 Imports growth
6.2.24 Annual average exchange rate US$–INR
6.2.25 End-of-period exchange rate US$–INR
6.3 Infrastructure Quality and Availability
6.3.1 Total airports and sea ports
6.3.2 Railways and roadways
6.3.3 Passenger vehicle production volume
6.3.4 Commercial vehicle production volume
6.3.5 Automotive component exports trend
6.3.6 Automotive component imports trend
6.3.7 Passenger car penetration
6.3.8 Healthcare expenditure
6.3.9 Healthcare expenditure as a percentage of GDP
6.3.10 Healthcare expenditure per capita
6.3.11 Total internet subscribers
6.4 Labor Force
6.4.1 Labor force
6.4.2 Unemployment rate
6.5 Demographics
6.5.1 Annual disposable income
6.5.2 Annual per capita disposable income
6.5.3 Total population
6.5.4 Urban and rural population
6.5.5 Females as a percentage of the total population
6.5.6 Males as a percentage of the total population
6.5.7 Mean age of the population
6.5.8 Median age of population
6.5.9 Population density
6.5.10 Age distribution of the total population
6.5.11 Age distribution of the male population
6.5.12 Age distribution of the female population
6.5.13 Number of households
6.6 Political and Social Risk
6.6.1 Political stability
6.6.2 Terrorism index
6.6.3 Transparency index
7 Appendix
7.1 Methodology
7.1 Contact Us
7.2 About Timetric
7.3 Disclaimer

List of Tables
Table 1: Insurance Industry Definitions
Table 2: Indian Insurance Overall Written Premium by Segment (INR Billion), 2007–2011
Table 3: Indian Insurance Overall Written Premium by Segment (US$ Billion), 2007–2011
Table 4: Indian Insurance Overall Written Premium by Segment (INR Billion), 2011–2016
Table 5: Indian Insurance Overall Written Premium by Segment (US$ Billion), 2011–2016
Table 6: Indian Insurance Segmentation (% Share), 2007–2016
Table 7: Indian Reinsurance Segment by Category (INR billion), 2007–2011
Table 8: Indian Reinsurance Segment by Category (US$ Billion), 2007–2011
Table 9: Indian Reinsurance Segment by Category (INR billion), 2011–2016
Table 10: Indian Reinsurance Segment by Category (US$ Billion), 2011–2016
Table 11: Indian Premium Ceded to Reinsurance by Type of Insurance (INR billion), 2007–2011
Table 12: Indian Premium Ceded to Reinsurance by Type of Insurance (US$ Billion), 2007–2011
Table 13: Indian Premium Ceded to Reinsurance by Type of Insurance (INR billion), 2011–2016
Table 14: Indian Premium Ceded to Reinsurance by Type of Insurance (US$ Billion), 2011–2016
Table 15: Indian Life Insurance – Percentage of Reinsurance Ceded (%), 2007–2011
Table 16: Indian Life Insurance – Percentage of Reinsurance Ceded (%), 2011–2016
Table 17: Indian Non-Life Insurance – Percentage of Reinsurance Ceded, 2007–2011
Table 18: Indian Non-Life Insurance – Percentage of Reinsurance Ceded, 2011–2016
Table 19: Indian Personal Accident and Health Insurance – Percentage of Reinsurance Ceded (%), 2007–2011
Table 20: Indian Personal Accident and Health Insurance – Percentage of Reinsurance Ceded (%), 2011–2016
Table 21: General Insurance Corporation of India, Key Facts
Table 22: General Insurance Corporation of India, Key Financials (INR Million)

List of Figures
Figure 1: Indian Insurance Overall Written Premium by Segment (INR Billion), 2007–2016
Figure 2: Indian Insurance Market Dynamics by Segment, 2007–2016
Figure 3: Indian Premium Ceded to Reinsurance by Category (INR billion), 2007–2016
Figure 4: Indian Premium Ceded to Reinsurance by Category (% Share), 2011 and 2016
Figure 5: Indian Reinsurance Market Dynamics by Category, 2007–2016
Figure 6: Indian Premium Ceded to Reinsurance by Type of Insurance (INR billion), 2007–2016
Figure 7: Indian Reinsurance Market Dynamics by Type of Insurance, 2007–2016
Figure 8: Indian Life Insurance – Percentage of Reinsurance Ceded (%), 2007–2011
Figure 9: Indian Life Insurance – Percentage of Reinsurance Ceded (%), 2011–2016
Figure 10: Indian Non-Life Insurance – Percentage of Reinsurance Ceded, 2007–2011
Figure 11: Indian Non-Life Insurance – Percentage of Reinsurance Ceded, 2011–2016
Figure 12: Indian Personal Accident and Health Insurance – Percentage of Reinsurance Ceded (%), 2007–2011
Figure 13: Indian Personal Accident and Health Insurance – Percentage of Reinsurance Ceded (%), 2011–2016
Figure 14: Indian Stock Exchange Market Capitalization (US$ Billion), 2007–2011
Figure 15: Indian GDP at Constant Prices (US$ Billion), 2007–2011
Figure 16: Indian GDP Per Capita at Constant Prices (US$), 2007–2011
Figure 17: Indian GDP at Current Prices (US$ Billion), 2007–2011
Figure 18: Indian GDP Per Capita at Current Prices (US$), 2007–2011
Figure 19: Indian GDP by Key Segments (%) 2009 and 2011
Figure 20: Indian Agricultural Net Output at Current Prices (INR Billion), 2007–2011
Figure 21: Indian Agricultural Net Output at Current Prices (US$ Billion), 2007–2011
Figure 22: Indian Agricultural Net Output at Current Prices as a Percentage of GDP (%), 2007–2011
Figure 23: Indian Manufacturing Net Output at Current Prices (INR Billion), 2007–2011
Figure 24: Indian Manufacturing Net Output at Current Prices (US$ Billion), 2007–2011
Figure 25: Indian Manufacturing Net Output at Current Prices as a Percentage of GDP (%), 2007–2011
Figure 26: Indian Mining, Manufacturing and Utilities Net Output at Current Prices (IDR Billion), 2007–2011
Figure 27: Indian Mining, Manufacturing and Utilities Net Output at Current Prices (US$ Billion), 2007–2011
Figure 28: Indian Mining, Manufacturing and Utilities Net Output at Current Prices as a Percentage of GDP (%), 2007–2011
Figure 29: Indian Construction Net Output at Current Prices (INR Billion), 2007–2011
Figure 30: Indian Construction Net Output at Current Prices (US$ Billion), 2007– 2011
Figure 31: Indian Construction Output at Current Prices as a Percentage of GDP (%), 2007–2011
Figure 32: Indian Inflation Rate (%), 2007–2011
Figure 33: Indian Current Account Balance as a Percentage of GDP(%), 2007–2011
Figure 34: Indian Exports as a Percentage of GDP (%), 2007–2011
Figure 35: Indian Imports as a Percentage of GDP (%), 2007–2011
Figure 36: Indian Exports Growth (%), 2007–2011
Figure 37: Indian Imports Growth (%), 2007–2011
Figure 38: Indian Annual Average Exchange Rate US$–INR, 2007–2011
Figure 39: Indian End-of-Period Exchange Rate US$–INR, 2007–2011
Figure 40: Indian Total Number of Airports and Sea Ports, 2011
Figure 41: Indian Railways and Roadways (Kilometers), 2011
Figure 42: Indian Passenger Vehicle Production, 2007–2011
Figure 43: Indian Commercial Vehicle Production, 2007–2011
Figure 44: Indian Automotive Component Exports (US$ Billion), 2007–2011
Figure 45: Indian Automotive Component Imports (US$ Billion), 2007–2011
Figure 46: Indian Passenger Car Penetration (per thousand people), 2007–2011
Figure 47: Indian Healthcare Expenditure (US$ Billion), 2007–2011
Figure 48: Indian Healthcare Expenditure as a Percentage of GDP (%), 2007–2011
Figure 49: Indian Per Capita Healthcare Expenditure (US$), 2007–2011
Figure 50: Indian Internet Subscriptions (Millions), 2007–2011
Figure 51: Indian Size of Labor Force in 15–59 Age Group (Million), 2007–2011
Figure 52: Indian Unemployment Rate (%), 2007–2011
Figure 53: Indian Annual Disposable Income (US$ Billion), 2007–2011
Figure 54: Indian Annual Per Capita Disposable Income (US$), 2007–2011
Figure 55: Indian Total Population (Million), 2007–2011
Figure 56: Indian Urban and Rural Population (%), 2007–2011
Figure 57: Indian Females as a Percentage of the Total Population (%), 2007–2011
Figure 58: Indian Male as a Percentage of the Total Population (%), 2007–2011
Figure 59: Indian Mean Age of Population (Year), 2007–2011
Figure 60: Indian Median Age of Population (Year), 2007–2011
Figure 61: Indian Population Density (per Square Kilometer), 2007–2011
Figure 62: Indian Population Distribution by Age (%), 2007–2011
Figure 63: Indian Male Population Distribution by Age (%), 2007–2011
Figure 64: Indian Female Population Distribution by Age (%), 2007–2011
Figure 65: Indian Households, Number of (Million), 2007–2011
Figure 66: Global Terrorism Heat Map, 2011
Figure 67: Indian Transparency Index, 2007–2011

General Insurance Corporation of India

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