Market Highlights: Life insurance is term as a contract between a life insurance company and the holder of insurance policy. It is in a form of financial protection for the beneficiary of the insured person in cases such as death. The policy holder pays the periodic amounts called as premiums for the duration of the policy and upon death, the insurance company pays a specific sum of money to a designated beneficiary in the form of income. The market of the life insurance is rising due to owning to the future security The market study is being classified by Type (Term Life, Whole Life and Universal Life), by Application (Residential, Travel and Others) and major geographies with country level break-up that includes South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
Key Players: The prominent players in the Life Insurance are Allianz (Germany), AXA (France), Nippon Life Insurance (Japan), American Intl. Group (United States), Aviva (United Kingdom), Assicurazioni Generali (Italy), State Farm Insurance (United States), Dai-ichi Mutual Life Insurance (Japan), Munich Re Group (Germany), Zurich Financial Services (Switzerland), Prudential (United States), Asahi Mutual Life Insurance (Japan), Sumitomo Life Insurance (Japan), Aegon (Netherlands), MetLife (United States), Swiss Reinsurance (Switzerland), CNP Assurances ( France), Meiji Yasuda Life Insurance Company (Japan) and Standard Life Assurance (United Kingdom).
Major Market Development Highlights Allianz announces its intention to enter the general insurance sector in Vietnam through a digital joint venture (JV) to be set up with the FPT Group – driving long-term success in the market and expanding Allianz’s footprint in Asia and Axa announced that it has obtained all regulatory approvals required to complete the proposed acquisition of XL Group Ltd and Nippon Life Insurance completes 49% acquisition in Reliance Nippon Life Allianz receives first-ever approval by China Banking and Insurance Regulatory Commission (CBIRC) for preparatory establishment of foreign insurance holding company
Key Questions Answered in the Report What will the Life Insurance Market size and the growth rate be in Future? What are the key factors driving the Life Insurance Market? What are the key market trends and macro-economic impacting the growth of the Life Insurance Market? What are the challenges to market growth? Who are the key vendors in the Life Insurance Market? What are the market opportunities and threats faced by the vendors in the Life Insurance Market? Trending factors influencing the market shares of the Players. What are the key outcomes of the five forces analysis of the Life Insurance Market?
Research Methodology: The top-down and bottom-up approaches are used to estimate and validate the size of the Global Life Insurance market. In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Life Insurance market. In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc. Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment by targeting key target audience that includes Banks, Financial bodies, Channel partners, Industry association, Downstream vendors, Government and investment communities and Research organisation and associations. This helps us to gather the data for the players revenue, operating cycle and expense, profit along with product or service growth etc. Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, Annual reports, press releases etc.