Industry Background:
Annuities are contracts issued and distributed (or sold) by monetary establishments wherever the funds have invested the goal of paying out a set financial gain stream presently. They are primarily used for retirement functions and facilitate people to address the chance of outliving their savings. Upon annuitization, the holding establishment can issue a stream of payments at a later purpose in time. Annuities were designed to be reliable suggests that of securing steady income for a person throughout their retirement years and alleviating fears of the longevity risk of outliving one's assets.This growth is primarily driven by Rising Demand for Financial Security after Retirement or Fund Shortage of Financially Average Population and Growth in Finance Education and Awareness about Money Management.
Globally, a noticeable market trend is evident Introduction of Newer and More Profitable Plans for More Financial Security. The Multi-line Insurance sector in the North America region has been increasing at a sustainable rate and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Life Insurance Corporation of India (India), SBI Life Insurance Co. Ltd. (India), ICICI Prudential Life Insurance Co. Ltd. (India), HDFC Standard Life Insurance Co Ltd (India), Bajaj Allianz Life Insurance Co. Ltd. (India), OneAmerica (United States), AIG (United States), American National. (United States), Fidelity. (United States), John Hancock Annuities. (United States) and Lincoln Financial. (United States) etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years.
Regulatory Insights:
Setting Every Community Up for Retirement Enhancement (SECURE) Act, signed into law by President Donald Trump in December 2019, loosens the rules on how employers can select annuity providers and include annuity options within 401(k) or 403(b) investment plans.
Market Drivers
- Rising Demand for Financial Security after Retirement or Fund Shortage of Financially Average Population
- Growth in Finance Education and Awareness about Money Management
Market Trend
- Introduction of Newer and More Profitable Plans for More Financial Security
Restraints
- Rising Threats of Bad Service and Frauds in Money Handling by Scammers
Opportunities
Rising Government Initiatives for More Financially Stable Population and Increasing Privatization in the Rising Finance Industry due to Robust Growth
Challenges
Less Awareness about the Annuities Insurance Plans in Developing Regions and Changing Risk Dynamics of the Market
AMA Research follow a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcase the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyse the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts, but also include significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints
- New Entrants into the Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
Against this Challenging Backdrop, Annuities Insurance Study Sheds Light on
The Annuities Insurance Market status quo and key characteristics. To end this, Analyst at AMA organize and took survey of the Annuities Insurance industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Annuities Insurance industry is heading and what are the top priorities. Insights are drawn from financial analysis, the survey and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold value they currently claim, or capture the new addressable opportunity.