DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/p6xw2c/insight_report) has announced the addition of the "Insight Report: Emerging Markets - Identifying Sources of Growth in the Insurance Industry" report to their offering.
"Insight Report: Emerging Markets - Identifying Sources of Growth in the Insurance Industry" identifies five key high-growth emerging insurance markets: Mexico, Indonesia, Kenya, Turkey and Vietnam. Insurance markets in this group recorded higher growth than those in Brazil, Russia, India and China (BRIC) during the review period. Low insurance penetration, high economic growth and rising disposable income present significant opportunities to both domestic and foreign entrants in each of these markets. The strong performance of emerging markets coupled with limited growth opportunities in mature markets attracted global insurers' interest in these emerging markets.
Entering the insurance industry when it is still in its development stage can also provide early-mover advantage, particularly as local insurers may lack the required capital base or expertise. Insurers from mature markets also have advantages in terms of technology, and tend to have superior knowledge of actuarial science for innovation in product development. Their presence can help increase insurance coverage in emerging markets.
Key Highlights
- The insurance industries in Mexico, Indonesia, Kenya, Turkey and Vietnam registered a significant growth during the review period, and their combined gross written premium was US$68.2 billion in 2014.
- Mexico and Turkey are the two most liberal insurance markets in the peer group, with both allowing 100% foreign direct investment. Both these markets provide equal opportunities for domestic and foreign insurers to operate.
- As urbanization gradually brings economic development, it also creates opportunities for insurers. The urban populations in Kenya, Vietnam, Indonesia, Turkey and Mexico grew by 19.0%, 12.9%, 11.5%, 8.4% and 6.4%, respectively, between 2010 and 2014. Rising employment opportunities and disposable incomes create demand for savings, and life and non-life insurance products.
- Healthcare insurance in Mexico, Kenya and Vietnam grew at high review-period CAGRs of 10.22%, 32.66% and 24.16%, respectively, as a result of increased healthcare expenditure. Changing lifestyle patterns, rising disposable income and the prevalence of numerous diseases will encourage more consumers to invest in private healthcare.
Key Topics Covered:
1 Executive Summary
2 Market Sizing and Forecasts
3 Analysis of Opportunities and Challenges
4 In-Depth Analysis of Key Markets
5 Regulations for Foreign Investment
6 Market Entry by Foreign Insurers
7 Appendix
Companies Mentioned
- Bajaj Allianz
- Pioneer Life
- Iffco-Tokio
- Mapfre Insurance
- Alternative Insurance Company (AIC)
- Hollard Insurance
- Protecta
- NSIA Insurance
- MicroEnsure
- Tata AIA Life
- PNB MetLife
- HDFC Ergo
For more information visit http://www.researchandmarkets.com/research/p6xw2c/insight_report.
