Category Archives: Finance and Banking

Get insights and analyse life insurance industry from India Life Insurance Market Research Report.

Life Insurance Market

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The Indian insurance industry has witnessed significant growth in the past few years with the introduction of a wide range of advanced insurance products and services. It consists of both life and non-life insurance companies. Out of the 52 insurance companies operating in India, 24 are in the life insurance business, and 28 companies are operating in the non-life insurance segment. Insurance Regulatory and Development Authority (IRDA) is an autonomous body that regulates and promotes the insurance and re-insurance industries in India.

Market insights:
The life insurance market in India was valued at INR 4,185 Bn in FY 2017 and is likely to expand at a compound annual growth rate (CAGR) of ~11.6% during FY 2018 to FY 2023. In 2016, Indias share in the global life insurance market was ~2.36% and ranked 10 among 88 countries. The Indian life insurance sector offers around 360 million policies, which is the largest number of policies offered by any insurance sector globally. In this sector, 49% foreign direct investment (FDI) through automatic route is allowed, letting overseas companies buy 49% stake at the domestic insurance companies without prior approval from the government.

Impact of goods and services tax:
Implementation of the goods and services tax (GST) is expected to make both banking and insurance products expensive in the country. As of June 01, 2017, service tax has been replaced by 18% GST in premium receipts and other related documents. Life insurance schemes offered by the government, exempted from GST, include the Janashree Bima Yojana (JBY), Aam Aadmi Bima Yojana (AABY), Varishtha Pension Bima Yojana (VPBY), Pradhan Mantri Jeevan Jyoti Bima Yojana (PMJJBY), Pradhan Mantri Jan Dhan Yogana (PMJDY), and Pradhan Mantri Vaya Vandana Yojana (PMVVY).

Insurance penetration overview:
Insurance penetration, which is measured as the ratio of premium underwritten in a given year to the gross domestic product (GDP) of the country, stood at ~3.49% in FY 2017. Life insurance penetration in India was ~2.72% in the same year.

Market segment insights- player-wise:
During FY 2017, life insurance companies issued 264.56 lakh new policies out of which LIC issued 201.32 lakh policies, while private insurance issued the remaining 63.24 lakh policies. In FY 2018, the Life Insurance Corporation of India (LIC) reported a growth of ~8% in its new business premium as compared to FY 2017. They continued to be the market leader by grabbing 69.40% of the market share in the total first-year premium, and 75.67% in new policies.

Key growth drivers of the market:
Currently, Indian insurance companies such as LIC, ICICI Prudential Life Insurance, and SBI Life Insurance Company, among others, are introducing comprehensive custom-made micro-insurance products for the rural sector, which covers not just health but accidents as well. Increasing rural income and improving infrastructure are expected to drive the growth of the Indian life insurance market.
Factors such as better management of claims and regulatory trends, coupled with increasing income and the working-class population of the country are expected to drive the growth of the market.

Key deterrents to the growth of the market:
Although there has been a rise in the number of insurers in the country, financial literacy, and awareness regarding understanding the products and services offered by the insurance companies act as a significant challenge to the growth of the life insurance market in India.

Companies profiled:
ICICI Prudential Life Insurance Company Limited
SBI Life Insurance Company Limited
Life Insurance Corporation of India
Aditya Birla Sun Life Insurance Company Limited
Bajaj Allianz Life Insurance Company Limited
HDFC Standard Life Insurance Company Limited
Max Life Insurance Company Limited
PNB MetLife India Insurance Company Limited
Reliance Nippon Life Insurance Company Limited
Tata AIA Life Insurance Company Limited
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Household Insurance in UK : Market Dynamics And Opportunities 2018

UK Household

Aarkstore Market Research culminates the newest Market Research Report “UK Household Insurance: Market Dynamics And Opportunities 2018

Summary

“UK Household Insurance: Market Dynamics and Opportunities 2018”, report provides an in-depth analysis of the UK household insurance market. It looks at market size and performance ratios as well as changes in premiums, claims, contextual and economic factors, regulations, and opportunities. It provides a thorough overview of the market along with future forecasts and analysis of emerging technologies and products.

Competition in the market remains high but conditions have hardened, with gross written premium (GWP) and average annual premiums increasing despite claims incurred declining in 2017. Benign weather conditions throughout 2017 helped insurers maintain profitability, although 2018 has already presented a very different challenge, with two major weather events occurring in the first quarter.

Home insurers continue to assess the implications of smart devices, and leading players such as AXA and Aviva remain focused on finding technology companies and start-ups to partner with to boost their propositions.

Scope

– UK household insurance GWP grew by 2.0% in 2017 to £6.5bn.
– The percentage of people living in owner-occupied properties increased for the first time since 2004 in Q1 2017, and increases to insurance premium tax (IPT) raised the average premium price.
– Start-ups continue to enter the market, with simplification a key trend in the industry.
– Offering easy-to-use policies in simple English over smartphone apps is how start-ups such as Buzzmove and Homelyfe enjoyed early success.

Reasons to buy

– Benchmark yourself against the rest of the market.
– Ensure you remain competitive as new innovations and insurance models begin to enter the market.
– Be prepared for how regulation will impact the household insurance market over the next few years.
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Around 70% of respondents have opted for UK Private Motor Insurances

UK Private Motor Insurance Market report explores consumer purchasing behavior, and how preferences are changing over time. It discovers what is most influential to customers when purchasing a policy, and also reveals the most popular providers in the market. New trends and innovations are highlighted, as well as the key factors that will influence the private motor insurance market over the next few years.

UK Private Motor Insurance Market

The purchasing preferences of private motor insurance customers changed in 2018. Price comparison websites (PCWs) are now the most popular channel, used by 37.4% of respondents. In a period of record high premiums, customer loyalty has waned: 63.4% of respondents used a PCW to conduct research before buying their latest policy. With the rising prominence of PCWs, more customers are also shifting their purchasing methods online, with approximately 70% of respondents purchasing their motor insurance policy either on a PC or handheld device.

Scope

– 37.4% of private motor insurance customers purchased via a price comparison website in 2018.

– 69.8% of customers purchased online.

– 13.2% of customers held a policy with Admiral.

– 72.5% of customers shopped around at last renewal.

Reasons to buy

– Understand consumer purchasing decisions and how these will influence the market over the next few years.

– Improve customer engagement by recognizing what is most important to them and how to adapt products and services to meet their needs.

– Learn which providers lead the way in the private motor insurance space.

– Discover which insurers spend the most on advertising and which channels they are using.

Category: Finance and Banking Market

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Financial Services Market – Payments Landscape in the UK

Payments Landscape in the UK_ Opportunities and Risks to 2021

Summary

GlobalDatas “Payments Landscape in the UK: Opportunities and Risks to 2021“, report provides detailed analysis of market trends in the British cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including credit transfers, direct debit, cash, payment cards, and cheques during the review-period (2013-17e).

The report also analyzes various payment card markets operating in the industry, and provides detailed information on the number of cards in circulation, transaction values and volumes during the review-period and over the forecast-period (2017-21f). It also offers information on the countrys competitive landscape, including the market shares of issuers and schemes.

The report brings together GlobalDatas research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers details of regulatory policy and recent changes in the regulatory structure.

This report provides top-level market analysis, information and insights into the British cards and payments industry, including –
– Current and forecast values for each market in the British cards and payments industry, including debit, credit, and charge cards.
– Detailed insights into payment instruments including credit transfers, cheques, direct debit, cash, and payment cards. It also, includes an overview of the countrys key alternative payment instruments.
– E-commerce market analysis and payment methods.
– Analysis of various market drivers and regulations governing the British cards and payments industry.
– Detailed analysis of strategies adopted by banks and other institutions to market debit, credit, and charge cards.

Scope

– To enhance competition and innovation in the payment and banking spectrum, the Open Banking service was launched by the Open Banking Implementation Entity (OBIE). Due to be launched on January 13, 2018, the service allows banks customers to give other companies permission to securely access their accounts. Customers can also access a range of services from different types of companies regulated by the Financial Conduct Authority (FCA) or any another European regulator. Initially, the service will cover only personal and small business accounts; other banking products and services such as credit cards and e-wallets will be added throughout the course of 2018 and 2019. OBIE is an entity created by the UKs nine largest personal and small business current account providers, collectively called CMA9. These are Barclays, Lloyds Banking Group, Santander, Danske, HSBC, RBS, Bank of Ireland, Nationwide, and AIBG. In July 2017, the Bank of England opened up the UKs RTGS payment system to non-banking payment service providers (PSPs). As a result, non-bank PSPs can apply for a settlement account in the RTGS system. The move will allow non-bank PSPs to offer a wider array of payment services and will lower their dependency on banks for access to payment systems. Non-bank PSPs are expected to start joining the RTGS service from 2018.
– In order to streamline various operations within the UK financial services industry, a new governing body called UK Finance was set up in July 2017. The body was formed after the merger of the Asset Based Finance Association, the British Bankers Association, the Council of Mortgage Lenders, Financial Fraud Action UK, Payments UK, and the UK Cards Association. The new organization represents around 300 firms in the UK offering credit, banking, markets, and payment-related services. The merger is anticipated to lower operational costs and result in a more co-ordinated approach towards issues such as payment fraud, and access to newer technologies.
– To further enhance the use of payment cards, in July 2017 the UK government announced the removal of surcharges on card payments, effective from January 13, 2018. Currently surcharge fees are commonly levied by merchants in the UK to compensate for merchant service fees. Generally, a surcharge of 2-3% is added on transactions made through payment cards. The removal of surcharges will drive consumers to shop more with payment cards, thus driving payment card transaction volume and value.

Reasons to buy

– Make strategic business decisions, using top-level historic and forecast market data, related to the British cards and payments industry and each market within it.
– Understand the key market trends and growth opportunities in the British cards and payments industry.
– Assess the competitive dynamics in the British cards and payments industry.
– Gain insights into marketing strategies used for various card types in the UK.
– Gain insights into key regulations governing the British cards and payments industry.
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Payments in the UK 2017: What Consumers Want

Payments Landscape in Canada: Opportunities and Risks to 2021

Payments Landscape in Ireland: Opportunities and Risks to 2021

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Chinas transition from manufacturing to services: Tertiary sector to become the backbone of the economy

Tertiary sector

Summary

The Chinese government has in recent years adopted policies actively encouraging the growth of its tertiary sector. These include reforms easing access to the Chinese market for foreign companies, as well establishing a fund which will assist companies in the services sector.

Overall, Chinas percentage share of global GDP has risen from 4.6% in 1950 to more than 20% by 2016.

Emissions from factories and a growing middle class population that is increasingly able to afford fossil fuel driven vehicles instead of relying on bicycles for transport, means that pollution at certain times of the year exceeds 20 times the limit set by the World Health Organization (WHO) as to what it considers maximum healthy exposure to pollution.

One major way in which the Chinese government wants to move the country towards becoming a service oriented economy is by boosting the exports of services and thereby reducing reliance on manufacturing exports.

Scope

– Explores how a manufacturing boom resulted in strong Chinese economic growth.
– Explains the consequences of this growth, both positive and negative.
– Covers the reasons why the Chinese government wants a transition away from manufacturing.
– Explores how this transition is progressing.
– Discusses how this transition will impact Chinese economic growth.

Reasons to buy

– How did Chinas economic rise occur?
– What were the consequences of this economic growth?
– Why does the Chinese government want to reduce reliance on manufacturing and encourage transition towards services?
– Will this transition result in strong double digit growth?
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China’s Mining Fiscal Regime 2017 – A Focus on Governing Bodies, Taxes and Royalties

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Gain insights into the insurance regulatory framework in Liechtenstein.

insurance-2Summary
Governance, Risk and Compliance The Liechtenstein Insurance Industry report is the result of extensive research into the insurance regulatory framework in Liechtenstein.

It provides detailed analysis of the insurance regulations for life, property, motor, liability, personal accident and health, and marine, aviation and transit insurance. The report specifies various requirements for the establishment and operation of insurance and reinsurance companies and intermediaries.

The report brings together Timetrics research, modeling and analysis expertise, giving insurers access to information on prevailing insurance regulations, and recent and upcoming changes in the regulatory framework, taxation and legal system in the country. The report also includes the scope of non-admitted insurance in the country.

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Synopsis
The report provides insights into the governance, risk and compliance framework pertaining to the insurance industry in Liechtenstein, including:

An overview of the insurance regulatory framework in Liechtenstein.

The latest key changes, and changes expected in the countrys insurance regulatory framework.

Key regulations and market practices related to different types of insurance product in the country.

Rules and regulations pertaining to key classes of compulsory insurance, and the scope of non-admitted insurance in Liechtenstein.

Key parameters including licensing requirements, permitted foreign direct investment, minimum capital requirements, solvency and reserve requirements, and investment regulations.

Scope
The report covers details of the insurance regulatory framework in Liechtenstein.

The report contains details of the rules and regulations governing insurance products and insurance entities.

The report lists and analyzes key trends and developments pertaining to the countrys insurance regulatory framework.

The report analyzes the rules and regulations pertaining to the establishment and operation of insurance businesses in the country.

Reasons To Buy Market Report
Gain insights into the insurance regulatory framework in Liechtenstein.

Track the latest regulatory changes, and expected changes impacting the Liechtenstein insurance industry.

Gain detailed information about the key regulations governing the establishment and operation of insurance entities in the country.

Key Highlights
The Liechtenstein insurance industry is regulated by the Financial Market Authority.

Non-admitted insurance is not permitted in the Liechtenstein insurance industry, with a few exceptions.

100% foreign direct investment is permitted in the Liechtenstein insurance industry.

Related Market Research Reports:

Governance, Risk and Compliance – The French Insurance Industry

Governance, Risk and Compliance – The German Insurance Industry

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Saudi Arabia Consumer Finance Market Outlook

Consumer FinanceHigh demand for residential houses from expatriates entering the country, rising land prices, increasing number of initiatives by government to strengthen the financial system and aggressive marketing strategies by banks to provide low interest rate consumer finance products are projected to drive the consumer finance market in Saudi Arabia through the next five years. Increasing population and rising demand for technologically advanced and luxurious consumer durable products are among the other major factor anticipated to boost consumer finance market in the country during 2017 – 2022. Al Rajhi Banking & Investment Corporation, National Commercial Bank, Riyad Bank are the major entities involved in offering a wide range of consumer finance products in the country.

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According to Saudi Arabia Consumer Finance Market By Type, Competition Forecast & Opportunities, 2012-2022, the consumer finance market across the country is anticipated to grow to $ 344 billion by 2022. Unsecured consumer finance held a majority share in the countrys consumer finance market in 2016, and it is anticipated that unsecured consumer finance products such as personal loans and credit cards would be the highest demand generators among all segments of consumer finance during the forecast period. The countrys Northern & Central region has emerged as the highest demand generator of consumer finance over the last five years, followed by Western, Eastern and Southern regions. Saudi Arabia Consumer Finance Market By Type, Competition Forecast & Opportunities, 2012-2022 discusses the following aspects of consumer finance market across the globe:

Saudi Arabia Consumer Finance Market Size, Share & Forecast
Segmental Analysis (Unsecured Consumer Finance – Personal Loan, Home Improvement Loan, Credit Card, Consumer Durable Finance, Education Loan and Other Unsecured Consumer Finance; and Secured Consumer Finance – Collateral Loan, Housing Loan and Auto Loan)
Policy & Regulatory Landscape
Changing Market Trends & Emerging Opportunities
Competitive Landscape & Strategic Recommendations

Why You Should Buy This Report?

To gain an in-depth understanding of consumer finance across the country
To identify the on-going trends and anticipated growth in the next five years
To help financial institutions, banks and other stakeholders align their market-centric strategies
To obtain research based business decisions and add weight to presentations and marketing material
To gain competitive knowledge of leading market players
To avail 10% customization in the report without any extra charges and get the research data or trends added in the report as per the buyers specific needs

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Beauty and Personal Care in Saudi Arabia

About Aarkstore:

Aarkstore Enterprise is among global marketing research companies involved in selling market reports across different industries and countries. We help serve thousands of clients annually with syndicated, custom market research and consulting. Collaborating with renowned market research partners, we have continued to etch our presence as an established as channel sales partner of market research intelligence on various frontiers. Clients from all sectors, including public, private, and commercial are endowed with best data modelling and processing structures with custom reports.

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