What is Pension Insurance Market Scope?
There are remarkable differences in pension systems around the world today. The roles of families, employers, trade unions, financial intermediaries, community organizations, constituencies, and government agencies vary widely. Despite these differences, in almost every country the government is ultimately the ultimate pension provider, either explicitly or implicitly. If a government pension system is well designed and well managed, it can improve the wellbeing of those it supports and even contribute to the resilience of the financial system as a whole. However, if poorly designed or poorly managed, it can undermine economic security at both the micro and macro levels. An annuity contract is an insurance contract that specifies the plan's contributions to an insurance company for which the plan's benefits will be paid when members reach the specified retirement age or when members leave the plan earlier.
The Pension Insurance market study is being classified by Type (Personal/Private Pensions and Company/Workplace Pensions), by Application (Individuals & Families and Organizations) and major geographies with country level break-up.
The companies are now exploring the market by adopting mergers & acquisitions, expansions, investments, new developments in existing products, and collaborations as their preferred strategies. The players are also exploring new geographies and industries through expansions and acquisitions so as to avail a competitive advantage through combined synergies. Analysts at AMA predicts that Players from Asian will contribute to the maximum growth of Global Pension Insurance market throughout the predicted period.
UnitedHealth Group (United States), Allianz SE (Germany), Kaiser Permanente (United States), MetLife (United States), CNP Assurances (France), PICC (China), Dai-ichi Life Group (Japan), ICICI Prulife (India), Ping An Insurance (China), China Life Insurance Company (China), China Pacific Insurance Company (China) and Pension Benefit Guaranty Corporation (United States) are some of the key players profiled in the study.
Segmentation Analysis
Analyst at AMA have segmented the market study of Global Pension Insurance market by Type, Application and Region.
On the basis of geography, the market of Pension Insurance has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
OECD Insurance and Private Pension Committee (IPPC) and Working Party on Private Pensions (WPPP) work, including information related to investment regulations of insurers and pension funds provided by countries through investment regulation surveys. The IPPC has been collecting data on investment regulations related to insurance over the last year. In the case of private pensions, an annual survey of investment regulation has been sent out through the WPPP since 2002 with data available since 2001. This has enabled the IPPC to put together a database on the current investment regulations of OECD and some non-OECD countries of insurers and private pension plans.
Influencing Market Trend
- Increased Cost of Various Services Coupled With High Prevalence of Lifestyle
Market Drivers
- The Projected Growth of the Pension Insurance Sector across the Globe
- The Rising per Capita Incomes
- The Emergence of the Middle Class
Opportunities
- Governments across the Globe Are Taking Initiatives in Funding the Pension Insurance Sector
Restraints
- Strict Regulation and Longer Time for Claim Reimbursement
Challenges
- Lack of Awareness About Pension Insurance
Key Target Audience
Providers of Pension Insurance, End-Users, Potential Investors, Regulatory Bodies, Market Research Firms and Others
Customization available in this Study:
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