Market Snapshot:
Life insurance is term as a contract between a life insurance company and the holder of insurance policy. It is in a form of financial protection for the beneficiary of the insured person in cases such as death. The policy holder pays the periodic amounts called as premiums for the duration of the policy and upon death, the insurance company pays a specific sum of money to a designated beneficiary in the form of income. The market of the life insurance is rising due to owning to the future security
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Unit | Value (USD Million) |
Market Drivers
- High volume industrialised countries and Global economic growth
Market Trend
- Rising inclination towards different capital investment
Restraints
- Building trust factor issues
Opportunities
The sector is undergoing extraordinary modernisation
Life Insurance Market Segmentation:
Scope | Sub-Segments |
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Application / End User | Residential, Travel and Others |
Type | Term Life, Whole Life and Universal Life |
Players Covered in the Study are:
Allianz (Germany), AXA (France), Nippon Life Insurance (Japan), American Intl. Group (United States), Aviva (United Kingdom), Assicurazioni Generali (Italy), State Farm Insurance (United States), Dai-ichi Mutual Life Insurance (Japan), Munich Re Group (Germany), Zurich Financial Services (Switzerland), Prudential (United States), Asahi Mutual Life Insurance (Japan), Sumitomo Life Insurance (Japan), Aegon (Netherlands), MetLife (United States), Swiss Reinsurance (Switzerland), CNP Assurances ( France), Meiji Yasuda Life Insurance Company (Japan) and Standard Life Assurance (United Kingdom)
The Global Life Insurance market is gaining huge competition due to involvement of United States, Japanese and Chinese companies that constantly invest in research & development to meet market expectation with new innovation.
Industry Insights:
Allianz announces its intention to enter the general insurance sector in Vietnam through a digital joint venture (JV) to be set up with the FPT Group – driving long-term success in the market and expanding Allianz’s footprint in Asia and Axa announced that it has obtained all regulatory approvals required to complete the proposed acquisition of XL Group Ltd and Nippon Life Insurance completes 49% acquisition in Reliance Nippon Life
Allianz receives first-ever approval by China Banking and Insurance Regulatory Commission (CBIRC) for preparatory establishment of foreign insurance holding company
Key Target Audience
Banks, Financial bodies, Channel partners, Industry association, Downstream vendors, Government and investment communities and Research organisation and associations
What can be explored with Life Insurance study:
Where Life Insurance industry stands in scaling its end use implementations
What concrete benefits would result from scaled initiatives by Players
Where Players should focus their investments cycle
Key success factors and recommendations for upscaling future growth.
Target Market / Country and Key Business Segments
Available Customization:
List of players that can be included in the study on immediate basis are WanaArtha Life (Indonesia), Asian Life Insurance Company (India), AIA Group Limited (China), China Life Insurance Company Limited (China), China Ping An Life Insurance Company Limited (China) and ACE Group (Vietnam).