Indian Insurance Industry

Table of Contents

1. Market Overview

• Table 1: Indian Recent Past, Current & Future Analysis for Insurance Industry by Segment - Life and Non-Life Markets Independently Analyzed with Premiums in US$ Million for the Years 2005 through 2012 (includes corresponding Graph/Chart).
• Table 2: Indian 8 -Year Perspective for Insurance Industry by Segment - Percentage Breakdown of Premiums for Life and Non-Life Markets for 2005, 2008, and 2012 (includes corresponding Graph/Chart).
• Table 3: Insurance Industry in India (2006): Per Capita Premium in US$, and Penetration of Insurance by Category - Life and Non-Life
• Indian Economy - A Goldmine For Foreign Insurance Companies
• IRDA Act Shapes Up the Industry for Future
• Indian Government Mulls Hike in Foreign Participation in Insurance Sector
• Insurance Bill to Merge General Insurance Companies
• A Promising Market
• Market Potential of India
• Insurers Face Growing Global M&A Activity
• Penetration of Life Insurance
• Low Growth in the Past
• High Premium Slows Penetration
• Liberalization of the Indian Market
• The Prelude
• A Walk Unto the Free Market
• Public Insurers Still Going Strong
• Emergence of New Distribution Channels
• Internet - A Potential Distribution Channel
• Overview of Indian Insurance Market
• Semi-Urban and Rural Areas - The High Growth Market Segments
• Children' s Policies Offer Huge Growth Potential
• Overview of Indian Life Insurance Market
• Growth Drivers
• Growth in Per Capita Income
• Superior Penetration Levels
• Variations in Product Mix
• Long-term Financial Instruments
• Competition and Player Strategies
• Indian Life Insurance Industry to Soar to New Heights
• Pension Segment Offers Huge Potential
• Opportunities Aboard
• Characteristics of the Indian Insurance Industry
• Reforms Spawn New Entries
• Middle Class: The Largest Contributor
• Population
• GDP Stats Focus Untapped Potential
• Mid 90' s Perspective
• LIC: The Biggest Market Taker
• Non-Life Insurance Market - The GIC Fort
• Insurance Regulatory and Development Act
• Guidelines for Investment

2. Segmental Analysis

2a. Life Insurance

• Tremendous Potential for Indian Life Insurance Sector
• Private and Public Face off
• Table 4: Indian Life Insurance Industry (2006): Premium Underwritten in INR Billion by Insurers - LIC, ICICI Prulife, Bajaj Allianz, HDFC Standard Life, Birla Sunlife, SBI Life, Tata AIG, Max New York, Kotak Mahindra, Aviva, ING Vysya, Reliance Life, MetLife, Sahara, Shriram Life
• Table 5: Indian Life Insurance Industry (2004): Gross Written Premium in US$ Million by Leading Companies for LIC, ICICI Prudential, Birla Sunlife, HDFC Standard, Tata AIG, SBI Life, Allianz Bajaj, Max New York, OM Kotak, and ING Vysya
• Table 6: Top-Five Players in the Indian Life Insurance Industry (2003) - Gross Written Premium in US$ Million for LIC, ICICI Prudential, Birla Sunlife, HDFC Standard, and Max New York

2b. Non-Life Insurance

• IRDA Plans Free Price Regime for Non-Life Insurance Sector
• Table 7: Indian General Insurance Market (2006 & 2007): Percentage Breakdown of Premiums by Product Category for Motor OD, Fire, PA & Health, Motor TP, Engineering, and Others (includes corresponding Graph/Chart)
• Table 8: Indian Non-Life Insurance Industry (2006): Gross Direct Premium Income Underwritten in INR Billion by Non-Life Insurers - New India, Oriental, National, United, ICICI Lombard, Bajaj Allianz, IFFCO-TOKIO, Tata AIG, Royal Sundaram, Cholamandalam, HDFC Chubb, and Reliance (includes corresponding Graph/Chart)
• Table 9: Indian P&C Market (2002-2003): Premium Written by Insurance Companies in INR Million
• Health Insurance - Gaining Acceptance
• Table 10: Indian Recent Past, Current & Future Analysis for Health Insurance Market by Premiums Written in US$ Million for the Years 2006 through 2012. (includes corresponding Graph/Chart)
• Health Insurance Sector Faces Challenges
• Microinsurance - Vast Untapped Market

3. Landscaping the Indian Insurance Industry

• Private Insurance Companies Growing Considerably
• Life Insurance
• Non-Life Insurance
• Leading Private Players
• ICICI-Prudential
• Bajaj Allianz
• Birla Sun Life Insurance Raring to go
• Sun Life' s Success Story
• The Entrenched State Players
• LIC - The Undisputed Leader
• General Insurance Company (GIC)
• Growing Participation of Overseas Players
• Foreign Players Partnering with Indian Players in the Indian Insurance Sector
• Performance of Multi-National Companies
• Global Reinsurers Hold Back Feet
• Opportunity for Global Reinsurers
• Managing Reinsurance Needs
• Hurdles All the Way
• Basic Strategies for New Entrants
• Challenges for Banks/NBFCs
• Table 11: Leading Banks into Insurance Sector in India (2000): Banks Ranked by Net Worth in INR Billion (includes corresponding Graph/Chart)
• Other Participants
• Role of Cooperatives in the Insurance Sector
• Agents/Brokers
• Factors Contributing Towards Success of Insurers
• Table 12: Key factors Determining Success of an Insurance Company in India (includes corresponding Graph/Chart)
• Information Technology in the Indian Insurance Industry
• Challenges for the Insurance Industry
• Insurers' Ad Spend Belie Expectations
• Internet Sales Could Prove Difficult
• Marketing Mix Set for a Change
• Changing Distribution Trends
• Effective Product Strategies - A Must
• Pricing Trends
• Factors Impacting Profitability and Competition
• Outlook

4. Product Launches

• LIC Introduces New Unit Linked Plans
• Reliance Introduces New Life Insurance Service
• ICICI Lombard Introduces Health Advantage Plus
• SBI Life to Introduce New Insurance Policy
• Max New York introduced SMART Invest Pension Scheme
• PNB Introduces New Health Insurance Product
• LIC Introduces Group Critical Illness Rider
• LIC to Launch Health Insurance Plan
• United India Insurance to Introduce 3 New Health Insurance Policies
• Aviva Introduces Non-Unit Linked Investment Plan
• SBI Life Introduces Pension Product
• Aviva Introduces Systematic Individual Savings Plans

5. Recent Industry Activity

• HSBC Ties-up with OBC and Canara Bank
• Aviva Life Insurance' s Indian Joint Venture Ties Up with Apex Bank
• Tata AIG Enters into Partnership with BISWA
• Tata AIG Plans Major Expansion in Orissa
• Cholamandalam MS Partners with IndusInd Bank
• Bank of Maharashtra to Form Joint Venture for Non-life Insurance
• Bank of India to Establish Joint Venture for Life Insurance
• Andhra Bank to Form Joint Venture for Life Insurance
• Apollo Hospitals Enters the Health Insurance Market
• Future Generali Commences Insurance Business in India
• ICICI Secures Approval for Divest Stake in Insurance Business
• HDFC Divests General Insurance Stake to ERGO International
• Vijaya Bank to Quit PNB-PFG Life Insurance Venture
• QBE Enters into Agreement with Rajan Raheja Group
• ICICI Prudential Life Teams Up with mChek
• TTK to Commence Retail Health Insurance
• ICICI and SCB to Form Alliance
• Canara Bank, HSBC and Oriental Bank Teams Up to Float Life Insurance Venture
• ICICI Lombard Introduces First Health Insurance Plan
• Aviva Life Insurance Teams Up with IndusInd Bank
• BoI, Dai-ichi and Union Bank Floats Joint Venture Company
• Andhra Bank, BoB and Legal & General Group to Enter into JV
• ICICI Prudential & Dignity Foundation Introduces ActivAge
• Apollo Establishes New Company
• Sompo Japan Acquires Stake in Universal Sompo
• HDFC to Acquire Chubb' s Stake
• Bank of Baroda to Form Life Insurance JV
• ING Group to Partner with India Post
• DLF and Prudential to Form Insurance JV in India
• HSBC Enters into Joint Venture
• Aviva Teams Up Induslnd Bank
• Mastek to Buy Vector Insurance
• Aegon Signs JV with Religare
• Federal Bank, IDBI and Fortis in a JV for Life Business in India
• Swiss Re to Acquire Stake in TKK Healthcare
• Aviva Enters into Agreement with Centurion Bank of Punjab
• IDBI, Federal Bank and Fortis Sign MoU to Establish a New Life Insurance Firm
• Oriental Bank to Enter into Life Insurance Business Sector
• Hinduja Group Signs MoU with European Insurer
• Postal Life Insurance Under Postal Administration Cover
• LIC' s Global Expansion Drives the Insurance Giant to Middle East
• Principal Financial Group Buys Stake in Avani Insurance Services
• LIC to Rope in Overseas Partners for Health Insurance
• Gecis Partners with Liberata of UK
• HDFC Chubb Ventures into Liability Insurance
• LIC International Receives License for Operating in UAE
• IDBI Plans to Enter Life Insurance Business
• IL&FS Investsmart to Debut Insurance Broking
• Crawford Sets Foot in India
• ECGC To Introduce New Insurance Policy

6. Strategic Developments in the Past

• United Guaranty Corp Acquires Stake in India Mortgage
• Sun Insurance Acquires Stake in Genins India
• Kotak Mahindra Finance Forms Joint Venture with Old Mutual
• DCM Shriram Consolidated and Zurich Financial Services Group Sign MOU
• India Alive Tours Appointed as an Agent for Tata-AIG General Insurance
• Maruti Forms Partnership with Two Insurance Companies
• Max New York Life and Escotel Mobile Form Alliance
• Family Health Plan Forms an Alliance with Food Corp. of India
• JK Insurance Services Forms Alliance with Birla Sun Life Insurance
• IFFCO-Tokio Marine Forms Partnership with Shield Autoglass
• Dabur CGU Life Insurance Acquires Insurance Corp. of Singapore
• Aditya Birla Group Forms Joint Venture with Sun Life Financial Services
• Jammu & Kashmir Bank Signs Joint Venture With Metlife
• Royal Sundaram Alliance, Fiat Auto and Fisaf form Joint Venture
• ' Escolife' Commences Operations
• Birla Sunlife Insurance and Citibank Partner on Insurance Products
• Emedlife Health Services Inks Alliance With Oriental Insurance Corp
• General Insurance Corp Forms a Strategic Alliance with Saudi Firms
• HDFC Standard Life Forms Alliance with Cholamandalam
• Tata AIG Life Insurance Forms Alliance with Amadeus for Product Show Casing
• ICICI Prudential Forms Alliance with Indus Group
• Tata AIG Enters into Agreement with Hong Kong & Shanghai Banking Corp.
• Central Bank of India Signs Agreement with Life Insurance Corp.
• State Bank of India and Cardif Acquire Life Insurance Licenses
• Insurance Regulatory & Development Authority Approves Birla Sun Life Insurance to Launch its Operations

7. Focus on Select Indian Players

• Bajaj Allianz General Insurance Co., India - Largest Private Non-Life Insurer in India.
• General Insurance Corp.
• ICICI Prudential Life Insurance Co. Ltd.
• Life Insurance Corp. of India - Largest Life Insurer in India

COMPETITIVE LANDSCAPE