0 7 min 3 mths

Get key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, total assets, total investment income and retention. Analyse allotment channels operating in the sector, which gives a wide-ranging indication of economy and demographics, and provides comprehensive information on the cut-throat landscape. It is replicating and investigation expertise, giving insurers access to information on subdivision dynamics and spirited compensation, and profiles of insurers operating by closely examining insurance regulations, recent changes in the regulatory structure and its impact on overall growth.

Insurance market remained upbeat and is well placed to continue to grow in the coming years primarily driven by stipulate for life products. Another year of double-digit development in gross written premium (GWP) came despite economic surroundings, although the government is seen taking steps to gradually develop and stimulate productivity. Driven by demand for life insurance, low interest rates discouraged investors away from conventional products such as bank deposits and investment funds and towards substitute savings solutions. In particular, according to the insurance trade associations, new products derived from the combination of segregated funds and unit-linked investment funds gained momentum.

The global financial crisis of 2008 destroyed many economies. They’re struggling since with GDP contraction. Political instability, high debt and a large shadow economy are contributing to the slow recovery. Furthermore, low labour productivity, which is significantly below most of the major economies in the Organization for Economic Co-operation. Amongst the life insurance market, long-term life insurance is the biggest segments. In light of the low returns offered by fixed-income instruments, investors and families divested their savings from government and corporate bonds. While the insurance sector has committed more than a third of investments into equities.

The insurance sector has seen some merger and acquisition (M&A) activity in recent years, increasingly involving overseas market participants out of which many were of life insurers. M&A transactions within the market have included the integration big players. Major challenges faced by the insurance market are the uncertainty regarding regulatory developments taking place.

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