Asia-Pacific Life and Annuity Insurance Market | Growth, Trends, and Forecast (2019 - 2024)

ASIA-PACIFIC LIFE AND ANNUITY INSURANCE MARKET - GROWTH, TRENDS, AND FORECAST (2019-2024)

THE MARKET IS SEGMENTED BY INSURANCE TYPE - GROWTH, TRENDS, AND FORECAST (2019 - 2024)

PURCHASE REPORT

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Study Period:

2015-2024

Base Year:

2018

Key Players:

PURCHASE REPORT

Market Overview

Life and Annuity Insurance market in Asia-Pacific was valued at USD XX billion in 2018, and is expected to reach USD XX billion by 2024, with a CAGR of XX% over the forecast period of 2019 to 2024.

  • Economic growth in Asia-Pacific economies will moderate but continue and the ageing populations will support growing demand for long-term investment, health and retirement coverage.
  • Asia-Pacific premium growth is moderating, as insurers shift to protection and investment policies, with profit-sharing features, and away from short-term interest-sensitive products.
  • For the Life insurance, asset risk is rising due to increasing allocations to higher-yielding non-traditional assets and widening currency mismatches. In the area of regulation, tightening requirements for capital and asset liability management will strengthen the industry's capacity to absorb sudden changes.

Scope of the Report

A complete background analysis of The Asia-Pacific Life and Non-life Insurance Market, which includes an assessment of the parental market, emerging trends by segments and regional markets, Significant changes in market dynamics and market overview is covered in the report

Key Market Trends

Growing Asia-Pacific Life Insurance Market

•Life insurance is the largest segment of the life insurance market in Asia-Pacific, accounting for 80% of the market's total value.
•The Pension/ annuity segment accounts for the remaining 20% of the market.
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Booming

• The number and the amount of new policies for individual annuity insurance were 2.08 million and JPY 11.644 trillion increasing both in number and in amount from the previous year.
 
• All the new policies for individual annuity insurance, the number of fixed individual annuity insurance was JPY 1.93 million and that of variable individual annuity insurance was JPY 0.13 million in 2015, with fixed individual annuity insurance increasing for the first time in these years.
 
• All the new policies for individual annuity insurance, the amount of fixed individual annuity insurance was JPY 10,336 billion and that of variable individual annuity insurance was JPY 757 billion.
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Competitive Landscape

The report covers major international players operating in Asia-Pacific Life & Annuity Insurance Market. In terms of market share, few of the major players currently dominate the market. However, with technological advancement and product innovation, mid-size to smaller companies are increasing their market presence by securing new contracts and by tapping new markets.

Major Players

  1. Nippon Life Insurance Company
  2. Life Insurance Corporation of India
  3. China Life Insurance Company
  4. Muang Thai Life Assurance Public Co Ltd
  5. AIA Group

* Complete list of players covered available in the table of contents below

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Table of Contents

  1. INTRODUCTION
    1. Study Deliverables
    2. Study Assumptions
    3. Scope of the Study
  2. RESEARCH METHODOLOGY
  3. EXECUTIVE SUMMARY
  4. MARKET OVERVIEW & DYNAMICS
    1. Overview
    2. Drivers
    3. Restraints
    4. Opportunities
    5. Distribution Channels
  5. MARKET SEGMENTATION
    1. Individual Insurance
    2. Annuity Insurance
    3. Endowment Insurance
    4. Juvenile Insurance
    5. Whole Life Insurance
    6. Medical Insurance
    7. Others
  6. COMPETITIVE INTELLIGENCE
    1. Nippon Life Insurance Company
    2. AIA Group
    3. Aviva Ltd
    4. Life Insurance Corporation of India (LIC)
    5. AMP Life Limited
    6. Hong Leong Assurance Berhad
    7. China Life Insurance Company
    8. Samsung Life Insurance
    9. Muang Thai Life Assurance Public Co Ltd
    10. Sun Life of Canada (Philippines) Inc.
    11. Other Companies
  7. INVESTMENT ANALYSIS
  8. FUTURE OF THE ASIA-PACIFIC LIFE AND ANNUITY INSURANCE MARKET