.

The Insurance in India industry profile is an essential resource for top-level data and analysis
covering the insurance industry. It includes detailed data on market size and segmentation,
plus textual and graphical analysis of the key trends and competitive landscape, leading
companies and demographic information.

Scope

- Contains an executive summary and data on value, volume and/or segmentation

- Provides textual analysis of the industry’s recent performance and future prospects

- Incorporates in-depth five forces competitive environment analysis and scorecards

- Includes a five-year forecast of the industry

- The leading companies are profiled with supporting key financial metrics

- Supported by the key macroeconomic and demographic data affecting the market

Highlights

- Detailed information is included on market size, measured by value and/or volume

- Five forces scorecards provide an accessible yet in depth view of the market’s competitive
landscape

Why you should buy this report

- Spot future trends and developments

- Inform your business decisions

- Add weight to presentations and marketing materials

- Save time carrying out entry-level research

Market Definition

The insurance market consists of the non-life insurance sector and the life insurance sector.
The value of the market is shown in terms of gross premium incomes. The life insurance
sector consists of mortality protection and annuity. The non-life insurance sector consists of
accident and health, and property and casualty insurance segments.

The insurance market depends on a variety of economic and non-economic factors, and
future performance is difficult to predict. The forecast given in this report is not based on a
complex economic model, but is intended as a rough guide to the direction in which the
market is likely to move.

This forecast is based on a correlation between past market growth and growth of base
.

drivers, such as house price growth, GDP growth and long-term interest rates.

All currency conversions have been calculated at constant 2007 annual average exchange
rates.

Asia-Pacific comprises Australia, China, Japan, India, Singapore, South Korea and Taiwan.

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PEST Analysis - Insurance Sector in India

Snapshots India Life Insurance 2007

Snapshots India Life Insurance 2008

. India Insurance Report Q2 2008

Indian Health Insurance

Health insurance market in FY2007 is estimated to be USD659.1m registering a growth of

30% compared with FY2006. In FY2006,the life insurance market occupied the major pie
constituting 83.82% of the insurance market. The non-life segment is still in its growing
phase with the market occupancy of 16.18%. In FY2006 health insurance covered only 1%
of the population of the country and accounted for 1.2% of the total healthcare expenditure.
However health insurance is growing very fast and according to estimates health insurance
premiums are expected to reach USD856.83m in 2007-08.

This report has attempted to discuss the vital scenario in healthcare and health insurance
market in India. A brief about global insurance industry in 2006, Indian insurance industry
and health insurance industry overview are discussed. Growth drivers and issues of the
industry are also covered. Major public and private players are covered in terms of their
performance, products and outlook. Future outlook of the industry is also discussed

Companies mentioned
.

-New India Assurance Company Limited

-Oriental Insurance Company Limited
-National Insurance Company Limited
-United India Insurance Company Limited
-Bajaj Allianz General Insurance Company Limited
-Royal Sundaram Alliance Insurance
-IFFCO TOKIO
-ICICI Lombard General Insurance Company Limited
-HDFC Chubb General Insurance Company Limited
-Cholamandalam MS General Insurance Limited
-TATA-AIG General Insurance Company Limited
-Reliance General Insurance
-Star Health and Allied Insurance Company Limited

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Insurance Industry Market Review 2007

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Insurance Industry - Global Outlook

The global outlook series on the Insurance Industry provides a collection of statistical
anecdotes, market briefs, and concise summaries of research findings. An easy guide to
What, Why, When, How, Where, and Who of an industry, the report offers the reader a bird’s
eye view of the global insurance industry. The report discusses the economic fundamentals
driving growth, and challenges/threats, and trends influencing both the life and non-life
market sectors, in addition to offering an extensive coverage of all recent mergers, and
acquisitions that have irreversibly changed the industry’s landscape beyond recognition. The
US market is intensively reviewed both descriptively and statistically, with 19 fact rich tables,
and accompanying pictorial representations. Other regional markets covered include Canada,
.

Japan, Austria, Belgium, Central and Eastern Europe, Czech Republic, Denmark, Finland,
France, Germany, Greece, Italy, Lithuania, Netherlands, Russia, Scandinavia, Slovenia,
Spain, Switzerland, UK, Australia, China, Hong Kong, India, Malaysia, New Zealand,
Singapore, South Korea, Taiwan, Thailand, Vietnam, Middle East, Argentina, Brazil, Chile,
Mexico and Colombia, among few others. The purpose of the abstracted regional market
discussion is to provide the reader a prelude, and a macro-level understanding of the unique
dynamics of each of the markets. Also included is an indexed, easy-to-refer, fact-finder
directory listing the addresses, and contact details of 2,566 companies worldwide

Indian Insurance Industry Forecast (2007-2009)

Indian Insurance Industry Forecast (2007-2009)”, provides extensive research and objective
analysis of the growing insurance industry, its product quality, and services in India. This
report helps to analyze the leading-edge opportunities critical to the success of the insurance
Industry in India. Detailed data and analysis helps investors, financial service providers, and
global banking players to navigate through the evolving insurance market in India.

Key Findings
- Taking into account the changing socio-economic demographics, rate of GDP growth,
changing consumer behavior and occurrences of natural calamities at regular intervals, the
Indian life insurance market is expected to reach the value of around Rs 1683 Billion in the
year 2009. The market is expected to grow at a CAGR of more than 200% YOY from the year
2006.
- In 2006-07, pension premium contributed about 22.11% to total premium income of
insurers. Interestingly, the figure in the first nine months to December 2005 was 25.22%.
- In the non-life segment, the established players control 65% of the market. So it is their
monthly performance that determines how the market as a whole would perform.
- In Motor Insurance Business, Public sector covers almost 68% of the market value whereas
the private sector just had 32% market share till September 2006.
- In Accident Insurance Business, private sector players have almost 53% market share with
ICICI Lombard as the lead player. Public sector players constitute about 47% market value
with New India as the leading player followed by United India.

Key Issues and Facts Analyzed

The research report also addresses the issues and facts that are critical to business success:
- What are the marketing strategies of the players in the insurance industry?
- How is the growth in Health and Group insurance are driving the Insurance sector in India?
- What are the opportunities for the players in this industry and what are the challenges to
sustain the Insurance market in India?
- What will be the prospective areas of investments in the insurance industry in the near
future?
- Which factors will lead to the growth of Life and Non-life insurance in India?

Key Products Analyzed

Key products like Life and Non-life insurance have been analyzed, supported by facts like
revenue and market trends.

Key Players
This section provides an overview of some of the key players in this industry like Bajaj
.

Allianz, ING Vysya, AMP Sanmar Assurance Limited, SBI Life, Tata AIG Life, HDFC Standard,
ICICI Prudential Life Insurance, Birla Sunlife, Aviva Life Insurance, Kotak Mahindra Old
Mutual, Max New York Life, Met Life, Sahara Life, LIC, Royal Sundaram, Tata-AIG General,
Reliance General, IFFCO-Tokio, ICICI-Lombard, HDFC Chubb, New India Assurance Company
Limited, National Insurance Company Limited, United India Insurance Company Limited and
Oriental Insurance Limited.

Research Methodology Used

Information Sources
Information has been sourced from various sources namely, Books, Newspapers, trade
journals, and white papers, industry portals, government agencies, trade associations,
monitoring industry news and developments, and through access to access to more than
3000 paid databases.

Analysis Methods
The analysis methods includes the following:
Ratio Analysis, Historical Trend Analysis, Linear Regression Analysis using software tools,
Judgmental Forecasting and Cause and Effect Analysis.

Booming Insurance Market in India (2008-2011)

With a huge population base and large untapped market, insurance industry is a big
opportunity area in India for national as well as foreign investors. India is the fifth largest life
insurance market in the emerging insurance economies globally and is growing at 32-34%
annually. This impressive growth in the market has been driven by liberalization, with new
players significantly enhancing product awareness and promoting consumer education and
information. The strong growth potential of the country has also made international players
to look at the Indian insurance market. Moreover, saturation of insurance markets in many
developed economies has made the Indian market more attractive for international insurance
players, according to 'Booming Insurance Market in India (2008-2011)”.

This research report will help the client to analyze the leading-edge opportunities critical to
the success of insurance industry in India. Based on this analysis, the report gives a future
forecast of the market that is intended as a rough guide to the direction in which the market
is likely to move.

Research Findings

-Total life insurance premium in India is projected to grow Rs 1,230,000 Crore by 2010-11.

-Total non-life insurance premium is expected to increase at a CAGR of 25% for the period
spanning from 2008-09 to 2010-11.

-With the entry of several low-cost airlines, along with fleet expansion by existing ones and
increasing corporate aircraft ownership, the Indian aviation insurance market is all set to
boom in a big way in coming years.

-Home insurance segment is set to achieve a 100% growth as financial institutions have
made home insurance obligatory for housing loan approvals.
.

-Health insurance is poised to become the second largest business for non-life insurers after
motor insurance in next three years.

-A booming life insurance market has propelled the Indian life insurance agents into the ‘top
10 country list’ in terms of membership to the Million Dollar Round Table (MDRT) — an
exclusive club for the highest performing life insurance agents.

Key Issues & Facts Analyzed in the Report

-Where does India stands in context of emerging countries?

-How the insurance market is likely to move in near future?
-What are key factors fuelling growth into the Indian insurance market?
-What are the growing insurance segments in India?
-What are various opportunity areas in the market?
-What are the key issues that need to be addressed?
-What is the status of micro-insurance and rural insurance in India?
-What initiatives the government is taking to promote the Indian insurance market?

Key Players

The major players discussed in the report include LIC, Bajaj Allianz and HDFC Standard
under life insurance segments, and New India, United India and ICICI Lombard under non-
life insurance segments.

Research Methodology Used

Information Sources
Information has been sourced from books, newspapers, trade journals and white papers,
industry portals, government agencies, trade associations, monitoring industry news and
developments, and through access to more than 3000 paid databases.

Analysis Methods
The analysis methods used for judgmental analysis in the report include ratio analysis,
historical trend analysis, linear regression analysis using software tools, judgmental
forecasting, and cause and effect analysis.

Life Insurance in India

The Life Insurance in India industry profile is an essential resource for top-level data and
analysis covering the life insurance industry. It includes detailed data on market size and
segmentation, plus textual and graphical analysis of the key trends and competitive
landscape, leading companies and demographic information.

Scope

- Contains an executive summary and data on value, volume and/or segmentation

- Provides textual analysis of the industry’s recent performance and future prospects
.

- Incorporates in-depth five forces competitive environment analysis and scorecards

- Includes a five-year forecast of the industry

- The leading companies are profiled with supporting key financial metrics

- Supported by the key macroeconomic and demographic data affecting the market

Highlights

- Detailed information is included on market size, measured by value and/or volume

- Five forces scorecards provide an accessible yet in depth view of the market’s competitive
landscape

- Market shares are covered by manufacturer or brand

Why you should buy this report

- Spot future trends and developments

- Inform your business decisions

- Add weight to presentations and marketing materials

- Save time carrying out entry-level research

Market Definition

The value of the life insurance market is shown in terms of gross premium incomes from
mortality protection and retirement savings plans. All currency conversions have been
calculated using constant 2007 annual average exchange rates.

The insurance market depends on a variety of economic and non-economic factors and
future performance is difficult to predict. The forecast given in this report is not based on a
complex economic model, but is intended as a rough guide to the direction in which the
market is likely to move. This forecast is based on a correlation between past market growth
and growth of base drivers, such as GDP, population growth and long-term interest rates.

compititors
- Allianz AG
- ICICI Bank Limited
- Life Insurance Corporation India
- State Bank of India

Non-Life Insurance in India

The Non-Life Insurance in India industry profile is an essential resource for top-level data
and analysis covering the non-life insurance industry. It includes detailed data on market
size and segmentation, plus textual and graphical analysis of the key trends and competitive
.

landscape, leading companies and demographic information.

Scope

- Contains an executive summary and data on value, volume and/or segmentation

- Provides textual analysis of the industry’s recent performance and future prospects

- Incorporates in-depth five forces competitive environment analysis and scorecards

- Includes a five-year forecast of the industry

- The leading companies are profiled with supporting key financial metrics

- Supported by the key macroeconomic and demographic data affecting the market

Highlights

- Detailed information is included on market size, measured by value and/or volume

- Five forces scorecards provide an accessible yet in depth view of the market’s competitive
landscape

- Market shares are covered by manufacturer or brand

Why you should buy this report

- Spot future trends and developments

- Inform your business decisions

- Add weight to presentations and marketing materials

- Save time carrying out entry-level research

Market Definition

The non-life insurance market consists of the accident and health insurance sector and the
property and casualty insurance sector. The value of the non-life insurance market is shown
in terms of gross premium incomes. Any currency conversions used in the report have been
calculated using constant 2007 annual average exchange rates.

The non-life insurance market depends on a variety of economic and non-economic factors
and future performance is difficult to predict. The forecast given in this report is not based on
a complex economic model, but is intended as a rough guide to the direction in which the
market is likely to move. This forecast is based on a correlation between past market growth
and growth of base drivers, such as house price growth, GDP growth and long-term interest
rates.

Companies mentioned
.

- National Insurance Company Limited

- New India
- Oriental

Snapshots India Insurance 2007

Snapdatas Snapshots India Insurance 2007 provides 2005 year-end market size data, with
2006 estimates, 4 years of historical data and five-year forecasts. The Snapshots report
gives an instant overview of the Indian insurance market, and covers life and non-life
(property and casualty) insurance. Market value is based on gross premium income. The
data is supplied in both graphical and tabular format for ease of interpretation and analysis.
The Snapshots India Insurance 2007 forms part of Snapdatas Financial Services industry
coverage.

Snapshots Report Overview:

Executive Summary

The Executive Summary within a Snapshots report outlines the main findings of the report
(market size, market shares and market forecasts)

Market size

Market size is the measure of the total value or volume of a particular product sold in a
particular length of time. In our case it is the total amount of the market covered by a title in
the last whole year, for example, in UK Beer 2005, all the beer consumed in the UK in 2004.
The aim of the report is to tell how much of the product was consumed in the country
discussed by value and by volume.

Market Segmentation

Market Segmentation is a segmentation of the market by key product categories, ideally by

value and volume. For example: the yoghurt market can be segmented into: drinking
yoghurt, flavoured yoghurt and natural yoghurt.

Market Share

Market Share is the share of each competitor in the market place and can be expressed in
value or volume terms.

Market Share by Volume - each competitor’s share of the total Market Volume
Market Share by Value - each competitor’s share of the total Market Value

Distribution

This measure of the market relates to the different distribution channels to market for each
product. The distribution can include the following channels

Consumer Goods example:

Supermarket
.

Hypermarket
Discount Store
Corner shop
Internet
Etc

Socio-Economic data

The key socio-economic indicators in each report will be:

Size of population
GDP - Gross Domestic Product
Inflation rate
Exchange rate

Forecasts

All market forecasts are based on statistical forecasting techniques based on historic
performance (linear extrapolation of the market size, based on the five-year historical
growth). These statistical tools are supplemented with qualitative parameters such as:
industry expectation/opinion. Socio-economic drivers, new product development,
technological advances, expected levels of market saturation etc.

Please find below an explanation of general terms used throughout Snapshot reports:

Cagr = compound annual growth rate. This is a formula to measure the annual growth rate
of a market over a period of several years. Cagr growth rate is the constant percentage rate
at which a market would have to grow, year on year, to reach its current value (y) from the
value in a base year (x). Compared to average growth rate this is a more representative
measure of growth. Cagr is calculated using the formula ((y/x)^(l/n))-1 where ‘^’ denotes
‘to the power of’, y is the value of the market in the final period covered, x is the value in the
first year and n is the number of years included in the calculation.

Market Value = All market values are expressed at either retail selling prices (RSP) or other
measures as specified in the reports.

Market Volume = All market volumes are expressed in the unit relevant to the market
researched (i.e. kg, litres etc.)

Further Sources

In this section we include important websites such as trade bodies or trade associations
relevant to the market. All sources whose data we have used in the report and who have
given us permission to use their data are represented here.

All secondary sources in local and global languages are scoured, from government statistics
to trade magazines. As the Snapdata model is unique as a product and non-competitive to
specialist publishers, the company has also been able to develop strong relationships with
.

companies such as Gartner and ACNielsen, who provide secondary data points to cross check
research.

Snapdata aims for 3 to 4 data points for each table, and no secondary data point will be used
without written permission from the original source, which not only verifies the quality, but
also provides the integrity to use the data. Once all secondary sources have been exhausted,
the language specialist researcher will then complete semi-structured telephone interviews
with the major companies in the industries to cross check and verify all data available.

Benefits of the Snapshots Reports

The Snapdata product range is designed to save time for clients by providing an industry
data overview, market size, shares and forecasts; verified with full sourcing.

Easy to search, quick to access, and clear and concise to use: Snapdata reports can save
40% of resources in those early stages of a project. Sometimes just a report from the
Snapshots Series is all that is required for an internal client’s first request. But when the
project develops, the reports also help your internal research team prepare a fuller picture
for their end-users utilizing the further sources provided in each report for industry drivers
and analytical information, enabling them to provide a more detailed document based on
solid figures but tailored to the end-users’ requests.

Production schedule

Snapdata reports are published throughout the year. Focusing on when the most reliable
data is available to research, additional new requested titles and expansion of the range
follow market demand. For example 200 automotive titles were published before March 2005
with full year-end 2004 data across 35 countries. Retail, which is a hugely fragmented
sector, especially in developing markets, is published throughout the year, as the most
reliable data becomes available and can be verified from multiple sources.

PEST Analysis - Insurance Sector in India

PEST analysis of any industry sector investigates the important factors that are affecting the
industry and influencing the companies operating in that sector. PEST is an acronym for
political, economic, social and technological analysis. Political factors include government
policies relating to the industry, tax policies, laws and regulations, trade restrictions and
tariffs etc. The economic factors relate to changes in the wider economy such as economic
growth, interest rates, exchange rates and inflation rate, etc. Social factors often look at the
cultural aspects and include health consciousness, population growth rate, age distribution,
changes in tastes and buying patterns, etc. The technological factors relate to the application
of new inventions and ideas such as R&D activity, automation, technology incentives and the
rate of technological change.

The PEST Analysis is a perfect tool for managers and policy makers; helping them in
analyzing the forces that are driving their industry and how these factors will influence their
businesses and the whole industry in general. Our product also presents a brief profile of the
industry comprising of current market, competition in it and future prospects of that sector.

General Insurance Market Assessment 2008

.

Is general insurance profitable? It is more profitable in the late 2000s than it was at the
beginning of the decade. General liability and pecuniary loss insurance have become
profitable, while health insurance is showing signs of recovery.

In the areas of motor and household insurance, there are strong signs that premiums are
rising as insurers realise that competition has led to losses.

General insurers are increasingly looking at reducing their costs by cutting distribution staff
and rationalising their UK operations. In many cases, they are looking to expand into
overseas markets that have much lower densities of general insurance incidence. Emerging
markets have growing numbers of more affluent citizens with more valuable possessions and
more sophisticated lifestyles that they need to protect by insurance. They lack the presence
of insurance companies offering competitive, attractive insurance proposals, and these
markets are increasingly attractive to the large UK insurers.

European and US insurers are increasing their efforts to take a large share in the UK general
insurance market and, despite the heavy concentration of many insurance sectors among
only a few companies, they are often seeing success within a few years of entry.

Consumers are increasingly confident that they will be protected, as policy documents are
more easy to read and contain clearer clauses and exceptions lists written in simpler English.
The role of the Financial Services Authority (FSA) in promoting fair treatment of customers is
having a significant effect. With the FSA's remit widening to include mortgages, veterinary
surgeons, estate agents and, from 2009, travel agents, the whole industry will soon be
regulated under the same market conditions. This should create fairer conditions in which
efficient competition can take place.

The distribution of general insurance continues to be dominated by independent

intermediaries, in particular national brokers, and the advance of direct sales has been
halted as customers use aggregation sites to choose their preferred policies more frequently.
As such sites increasingly expose the gaps in firms' offerings relative to their rivals, rather
than the price of the premium, customers are coming to realise that general insurance is
complex and the advice of a fully trained broker is preferable to a website. Price is not the
only guide to a value-for-money policy.

Several problems remain within general insurance, some of which (e.g. protection from
flooding) appear to be beyond the influence of insurers. However, the pressure of
competition remains strong and insurers are under constant pressure to offer better
packages than their rivals.

Companies mentioned

Allianz Insurance Plc

Aviva Plc
Axa Insurance Uk Plc
Bupa Insurance Ltd
Rbs Insurance Group Ltd
Royal & Sunalliance Insurance Plc
Zurich Financial Services (Ukisa) Ltd
.

Role of IRDA

MISSION
To protect the interests of the policyholders, to regulate, promote
and ensure orderly growth of the insurance industry and for
matters connected therewith or incidental thereto.

General Insurance

Insurance History

Life Insurance

Pension Schemes
.

INDIAN INSURANCE INDUSTRY:

Insurers

Insurance industry, as on 1.4.2000, comprised mainly two players: the state insurers:

Life Insurers:
• Life Insurance Corporation of India (LIC)
General Insurers:
• General Insurance Corporation of India (GIC) (with effect from Dec'2000, a National
Reinsurer)
GIC had four subsidary companies, namely ( with effect from Dec'2000, these subsidaries have
been de-linked from the parent company and made as independent insurance companies.

1. The Oriental Insurance Company Limited

2. The New India Assurance Company Limited
3. National Insurance Company Limited
4. United India Insurance Company Limited.
Yr: 2000-2001 : ( From 2nd April '2000 to 31st December'2001)

Insurance Industry in the year 2000-2001 had 16 new entrants, namely:

Life Insurers:

S.N Registrati Date of Name of the Company

o. on Reg.
Number

1 101 23.10.2 HDFC Standard Life Insurance Company Ltd.

000

2 104 15.11.2 Max New York Life Insurance Co. Ltd.

000

3 105 24.11.2 ICICI Prudential Life Insurance Company Ltd.

000

4 107 10.01.2 Kotak Mahindra Old Mutual Life Insurance

001 Limited

5 109 31.01.2 Birla Sun Life Insurance Company Ltd.

001
.