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
- High volume industrialised countries and Global economic growth
- Rising inclination towards different capital investment
- Building trust factor issues
The sector is undergoing extraordinary modernisation
Players Covered in the Study 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)
The Global Life Insurance market is gaining huge competition due to involvement of United States, Japanese and Chinese companies that constantly invest in research & development to meet market expectation with new innovation.
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
List of players that can be included in the study on immediate basis are WanaArtha Life (Indonesia), Asian Life Insurance Company (India), AIA Group Limited (China), China Life Insurance Company Limited (China), China Ping An Life Insurance Company Limited (China) and ACE Group (Vietnam).