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The Life and Non-Life Insurance market in the Asia-Pacific is segmented by Insurance Type (Life, Non-Life) Distribution Channel (Direct, Agency, Banks, and Other Distribution Channels)
This report aims to provide a detailed analysis of the life and non-life insurance market in Asia-Pacific. It focuses on the market dynamics, emerging trends in the segments and regional markets, and insights on various product and application types. Also, it analyses the key players and the competitive landscape in the life and non-life insurance market in Asia-Pacific.
|By Insurance Type|
|By Distribution channel|
|Other Distribution channels|
|Rest of Asia-Pacifc|
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Europe accounts for a third of global insurance premiums, slightly less than the Asia-Pacific region and slightly more than North America. Asia-Pacific insurance premiums are expected to increase in the coming years. The Asia-Pacific region holds the key to the future of the insurance industry. It is home to nearly one-third of the world's population, some of the fastest-growing economies, and several countries with rapidly expanding middle-class populations. However, China has quickly become the second-largest economy in the world and is on track to become the largest by 2030.
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After experiencing a year-on-year growth rate of 3.9% for gross written premiums in 2018, the only year with less than double-digit growth in the last five years, the Chinese insurance market bounced back in 2019. In the first seven months of 2019, the total gross written premium increased by 13.9 %, with the life insurance market growing by 15.9% and the non-life market growing by 8 %. China Banking and Insurance Regulatory Commission (CBIRC) has rolled out new measures, including advancing the transition period for the removal of foreign ownership caps in foreign-invested life insurance companies by 2020, canceling the requirement that the total equity interest in the insurance asset management business owned by domestic insurance companies be at least 75%, and allowing foreign investors to have a stake above 25%, facilitating the entry requirements for international insurance companies by removing the requirement that they had to operate for at least 30 years before entering the Chinese market.
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The report covers the major players operating in the life and non-life insurance market in Asia-Pacific. The market is consolidated and is expected to grow during the forecast period, due to china’s new measures to boost its insurance industry and other few factors.
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porters 5 Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 By Insurance Type
5.1.1 Life Insurance
5.1.2 Non-life Insurance
22.214.171.124 Other Non-life Insurances
5.2 By Distribution channel
5.2.4 Other Distribution channels
5.3 By Geography
5.3.4 Rest of Asia-Pacifc
6. COMPETITIVE LANDSCAPE
6.1 Vendor Market Share
6.2 Mergers and Acquisitions
6.3 Company Profiles
6.3.1 China Life Insurance Group
6.3.2 Ping An Insurance Group
6.3.3 People's Insurance Co. of China
6.3.4 National Mutual Insurance federation of Agricultural Cooperatives
6.3.5 Nippon Life Insurance Co.
6.3.6 Japan Post Insurance Co.
6.3.7 Life Insurance corporation of India
6.3.8 MS&AD Insurance Group Holding Inc.
6.3.9 Tokia marine holdings Inc.
6.3.10 Dai-ichi Life holdings Co.
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
** Subject to Availability