Afs Prestation Sandeep
Content
ANALYSIS OF FINANCIAL STATEMENTS (INSURANCE )
Suraj Prajapati 074 Sandeep Vishwakarma 118 Anand Yadav 119 Manmohan Yadav 120 Suraj Yadav 121
ORIGIN OF INSURANCE SECTOR
Insurance was established in the late 17th century in
Europe.
In the United States of America, insurance sector
originated in mid – 18th century.
1818 saw the advent of life insurance business in
India with the establishment of the Oriental Life Insurance Company in Calcutta.
ORIGIN OF INSURANCE SECTOR
The general insurance sector was established in the 17th
century.
It came to India as a legacy of British occupation Triton Insurance Company Ltd., in the year 1850 in Calcutta
by the Britishers.
In 1907, the Indian Mercantile Insurance Ltd. The first Indian
Company to deal in General Insurance.
OVERVIEW OF INSURANCE SECTOR
Decline in insurance density in 2011 Increase in life insurance sector in 2012 Moving to tier-2 and tier-3 cities General insurance sector anticipated to grow at 18% in
2012-2013
Indian life insurance sector slated to touch Rs.20 trillion
OVERVIEW (CONTD)
General insurance sector is also slated to touch Rs.18
trillion from past Rs.8 trillion in 2008
SECTOR SEGMENTATION
Life Insuranc e
Insurance
Reinsur ance
General
Insurance
PLAYER AND MARKET SHARE OF LIFE INSURANCE (RS IN CRORE)
Company Player Bajaj Alliance Reliance Life SBI Life HDFC Standard ICICI Prudential Birla Sunlife Max Life 228.44 110.30 421.35 282.26 321.12 122.22 133.47 1580.70 780.09 2741.65 2170.73 2686.22 991.17 1057.09 Premium(Nov-2012) Premium(Nov-2013)
Private Total LIC
Grand Total
2308.39 4501.71
6810.11
16052.65 44571.55
60624.20
MARKET SHARE FOR LIFE INSURANCE ON PREMIUM BASIS:Premium
Bajaj Alliance Reliance Life SBI Life HDFC Standard ICICI Prudential Birla Sunlife Max Life LIC
PLAYER AND MARKET SHARE OF NON LIFE INSURANCE(RS IN CRORE)
Company Player Royal Sundaram Tata-AIG IFFCO- Tokio ICICI- Lombard Bajaj Alliance New India National 130.41 150.68 180.78 546.81 294.75 680.33 686.53 1012.91 1353.92 1664.50 3967.67 2505.62 6507.05 5720.92 Premium(Nov-2012) Premium(Nov-2013)
Oriental Private Total
Public Total Grand Total
477.98 2338.28
2819.93 5158.21
4266.06 18829.02
25622.30 44451.32
PLAYER AND MARKET SHARE OF NON LIFE INSURANCE (CONTD.)
Premium Royal Sundaram Tata-AIG
IFFCO- Tokio
ICICILombard Bajaj Alliance
New India
National Oriental
GROWTH AND SIGNIFICANCE
General Insurance Companies increased by 24.7% Life insurance Companies increased by 24% Insurance Service contribute 7% to GDP Insurance sector growing at a speed of 15-20% every year Currently, 22 out of 24 life insurance players and 18 out
of 27 non-life insurers have foreign partners.
GOVERNMENT INITIATIVES
The Government of India has re-affirmed its efforts to
push economic growth by increasing the FDI limit from 26 per cent to 49 per cent in insurance.
The six companies that have received IRDA approval
for setting up insurance repositories are NSDL, CDSL, Karvy, CAMS and STCI
IRDA has also been making efforts to boost
insurance companies to invest in infrastructure funds.
INDIAN INSURANCE INDUSTRY CHALLENGES
New Comer poses threat - With more companies
coming up everyday with the growing demand of the industry the markets very competitive.
Supplier Power: The people providing the capital
don't act as big terror as opportunity always lies in the big hands
INDIAN INSURANCE INDUSTRY – CHALLENGES (CONTD.)
Buyer Power: Individual never stands a chance in
front of big corporate sectors as they dominate the insurance industries with high potential of negotiation power
Presence of substitutes: The insurance industry is
full of replacement option and the large insurance companies offers the same service as of others be it in any sector of home, commercial, auto, health or life.
SWOT ANALYSIS
Strength
Huge untapped population of India. Product development & Innovation by insurance companies. Large middle class households and trust on banks. Cheaper mode of distribution channel.
Weakness
Low consumer awareness Inflexibility of products. Heavy premiums. Considered as an Investment not protection tool
SWOT ANALYSIS (CONTD.)
Opportunity
More than 70% population is uninsured. People faith on banks which help in selling of insurance products. Rising demand for new insurance products like ULIPS, Pension and
Health plans. Introduction of new technology and speedy customer services. Help in expansion of banking sector with additional revenue from insurance business(Bancassurance).
Threats
Difficult to sell insurance products. Not suitable for complex products. Increased work pressure on bank employees.
Availability of multiple Investment options
CONCLUSION
A World Bank study named 'Government-Sponsored
Health Insurance in India ' has stated that India would have more than 630 million people covered under health insurance by 2015.
Foreign players would bring in the much needed
technical aspects of insurance business
CONCLUSION (CONT.)
"All factors are in place for the Indian life insurance
industry to blossom into one of the fastest-growing financial services markets in the world," the report says
Rising incomes driven by economic growth are
boosting demand, and increasingly sophisticated consumers with different needs are driving some differential plays."
THANK YOU
Suraj Prajapati 074 Sandeep Vishwakarma 118 Anand Yadav 119 Manmohan Yadav 120 Suraj Yadav 121
ORIGIN OF INSURANCE SECTOR
Insurance was established in the late 17th century in
Europe.
In the United States of America, insurance sector
originated in mid – 18th century.
1818 saw the advent of life insurance business in
India with the establishment of the Oriental Life Insurance Company in Calcutta.
ORIGIN OF INSURANCE SECTOR
The general insurance sector was established in the 17th
century.
It came to India as a legacy of British occupation Triton Insurance Company Ltd., in the year 1850 in Calcutta
by the Britishers.
In 1907, the Indian Mercantile Insurance Ltd. The first Indian
Company to deal in General Insurance.
OVERVIEW OF INSURANCE SECTOR
Decline in insurance density in 2011 Increase in life insurance sector in 2012 Moving to tier-2 and tier-3 cities General insurance sector anticipated to grow at 18% in
2012-2013
Indian life insurance sector slated to touch Rs.20 trillion
OVERVIEW (CONTD)
General insurance sector is also slated to touch Rs.18
trillion from past Rs.8 trillion in 2008
SECTOR SEGMENTATION
Life Insuranc e
Insurance
Reinsur ance
General
Insurance
PLAYER AND MARKET SHARE OF LIFE INSURANCE (RS IN CRORE)
Company Player Bajaj Alliance Reliance Life SBI Life HDFC Standard ICICI Prudential Birla Sunlife Max Life 228.44 110.30 421.35 282.26 321.12 122.22 133.47 1580.70 780.09 2741.65 2170.73 2686.22 991.17 1057.09 Premium(Nov-2012) Premium(Nov-2013)
Private Total LIC
Grand Total
2308.39 4501.71
6810.11
16052.65 44571.55
60624.20
MARKET SHARE FOR LIFE INSURANCE ON PREMIUM BASIS:Premium
Bajaj Alliance Reliance Life SBI Life HDFC Standard ICICI Prudential Birla Sunlife Max Life LIC
PLAYER AND MARKET SHARE OF NON LIFE INSURANCE(RS IN CRORE)
Company Player Royal Sundaram Tata-AIG IFFCO- Tokio ICICI- Lombard Bajaj Alliance New India National 130.41 150.68 180.78 546.81 294.75 680.33 686.53 1012.91 1353.92 1664.50 3967.67 2505.62 6507.05 5720.92 Premium(Nov-2012) Premium(Nov-2013)
Oriental Private Total
Public Total Grand Total
477.98 2338.28
2819.93 5158.21
4266.06 18829.02
25622.30 44451.32
PLAYER AND MARKET SHARE OF NON LIFE INSURANCE (CONTD.)
Premium Royal Sundaram Tata-AIG
IFFCO- Tokio
ICICILombard Bajaj Alliance
New India
National Oriental
GROWTH AND SIGNIFICANCE
General Insurance Companies increased by 24.7% Life insurance Companies increased by 24% Insurance Service contribute 7% to GDP Insurance sector growing at a speed of 15-20% every year Currently, 22 out of 24 life insurance players and 18 out
of 27 non-life insurers have foreign partners.
GOVERNMENT INITIATIVES
The Government of India has re-affirmed its efforts to
push economic growth by increasing the FDI limit from 26 per cent to 49 per cent in insurance.
The six companies that have received IRDA approval
for setting up insurance repositories are NSDL, CDSL, Karvy, CAMS and STCI
IRDA has also been making efforts to boost
insurance companies to invest in infrastructure funds.
INDIAN INSURANCE INDUSTRY CHALLENGES
New Comer poses threat - With more companies
coming up everyday with the growing demand of the industry the markets very competitive.
Supplier Power: The people providing the capital
don't act as big terror as opportunity always lies in the big hands
INDIAN INSURANCE INDUSTRY – CHALLENGES (CONTD.)
Buyer Power: Individual never stands a chance in
front of big corporate sectors as they dominate the insurance industries with high potential of negotiation power
Presence of substitutes: The insurance industry is
full of replacement option and the large insurance companies offers the same service as of others be it in any sector of home, commercial, auto, health or life.
SWOT ANALYSIS
Strength
Huge untapped population of India. Product development & Innovation by insurance companies. Large middle class households and trust on banks. Cheaper mode of distribution channel.
Weakness
Low consumer awareness Inflexibility of products. Heavy premiums. Considered as an Investment not protection tool
SWOT ANALYSIS (CONTD.)
Opportunity
More than 70% population is uninsured. People faith on banks which help in selling of insurance products. Rising demand for new insurance products like ULIPS, Pension and
Health plans. Introduction of new technology and speedy customer services. Help in expansion of banking sector with additional revenue from insurance business(Bancassurance).
Threats
Difficult to sell insurance products. Not suitable for complex products. Increased work pressure on bank employees.
Availability of multiple Investment options
CONCLUSION
A World Bank study named 'Government-Sponsored
Health Insurance in India ' has stated that India would have more than 630 million people covered under health insurance by 2015.
Foreign players would bring in the much needed
technical aspects of insurance business
CONCLUSION (CONT.)
"All factors are in place for the Indian life insurance
industry to blossom into one of the fastest-growing financial services markets in the world," the report says
Rising incomes driven by economic growth are
boosting demand, and increasingly sophisticated consumers with different needs are driving some differential plays."
THANK YOU
