Rising Underwriting Capacity Driving The Asia Pacific Insurance Sector: Ken Research

PITAMPURA, India - April 20, 2013 - PRLog -- New Delhi: 22/03/2013- The insurance industry is one of the potential industries in the emerging markets of Asia-Pacific region such as China, India, Thailand, Taiwan, Malaysia and others. The rising personal disposable income due to improving economic conditions which has encouraged the insurance players to divert their attention in the growing market of Asia-Pacific In addition, China and India have ongoing infrastructure projects with massive amount of investment which will contribute to new business development in the line of property and commercial insurance.

The Asian economic growth is expected to remain strong as the global economic environment experiences a major shift towards emerging markets. The western countries economic conditions are suffering from shrinking or stagnant business which would lead the global insurers to divert their business in the Asian market. The emerging middle class families, rising awareness among the consumers, increasing various lifestyle related diseases such as diabetes, heart diseases, cancer, asthma and others are expected to attract more insurance players in the market.  

In the past few years, the insurance industry in the Asia-Pacific region has witnessed new government regulations, more number of foreign players, increasing middle class families and rising awareness among the people of the countries. These factors have buoyed the growth of the market. The insurance market in Asia-Pacific region has grown remarkably over the past few years due to the growth in the emerging markets such as China, Japan, India, Australia, Taiwan and South Korea. The countries in the Asia-Pacific region are at different stages of economic development unlike the European countries and the US which has created significant opportunities for the insurance companies in the region in order to serve the financial needs of the customers. The market in the region has grown at a CAGR of 11.9% from USD 617,078.8 million in 2005 to USD 1,357.602.8 million in 2012.

According to the research report “Asia-Pacific Insurance Market Outlook to 2016 - Growth Opportunity in India and China” by Ken Research, the direct written premium of insurance in Asia-Pacific region is projected to rise at a CAGR of 11.2% in the next four years due to rising population in the market of India and China and improving government regulations in most of the Asian countries.

“Rising demand of annuity insurance in Japan, South Korea and Taiwan with the ageing population, increasing competition with the entrance of foreign players and rising awareness among the rural population of India and China are expected to drive the Asia-Pacific insurance market positively in next four years.” According to the Research Analyst, Ken Research

The report titled Asia-Pacific Insurance Market Outlook to 2016 - Growth Opportunity in India and China provides a comprehensive analysis of market size of the insurance industry on the basis of countries such as Japan, China, South Korea, Taiwan, India and Australia, market segmentation of life and non life insurance industry. The report also entails the value chain of Asia-Pacific insurance market. The report also provides competitive landscape and profile of major players operating in the insurance industry  

For more information on the industry research report please refer to the below mentioned link:

http://www.kenresearch.com/banking-financial-services--in...