Sri Lanka Insurance Industry Recording Impressive Growth

Sri Lankan insurance market is projected to grow at a CAGR of around 21% during 2012-2015, says RNCOS in its latest research report.

NOIDA, India (prHWY.com) October 30, 2012 - Sri Lanka Insurance Industry is witnessing a strong growth since past few years. Dominated by general insurance segment, the total Gross Written Premium (GWP) in the country increased by 18% in 2011 compared to the previous year. In the coming years, the industry is further expected to touch the pinnacle of success with ever-growing life insurance penetration, emergence of online insurance services, and rising foreign investment in the industry. Taking into account all these favorable factors, the GWP of insurance companies in Sri Lanka is expected to grow at a CAGR of around 21% during 2012-2015.

Research Analysis and Highlights

The report, "Sri Lankan Insurance Industry Analysis", by RNCOS spread across 80 pages covers all the key aspects that depict the complete picture of the insurance industry of Sri Lanka. It offers an in-depth analysis of market performance of insurance by segments covering the long-term insurance and general insurance market. It also drills into general insurance segments including Fire, Marine, Motor & Miscellaneous insurance along with their future forecast. In addition to that, the report also covers the market performance by insurance companies.

Our research also provides the study of reinsurance market of Sri Lanka coupled with its segment-wise growth. To provide better insight of market, it studies the existing distribution channel of insurance industry in the country which includes Broker, Agents and Bancassurance. In addition, it describes the potential growth areas of Sri Lankan insurance industry such as rising opportunities in the field of Takaful & Health insurance, etc.

Our research also provides a complete insight of country's insurance industry including consumer perception. It also talks about the present regulatory environment and challenges for insurance industry in the country. Moreover, it highlights the key players in Sri Lankan insurance industry along with their market share which will help the client to understand the present market scenario and competitive landscape of the industry.

Some of the report's key highlights include:

- Rising Life Insurance Penetration.
- Motor Leading General Insurance Market in Sri Lanka.
- Growing potential in export credit insurance.
- Takaful: A new and viable insurance segment.

Some of our Related Reports are:

- Saudi Arabia Insurance Market Analysis (http://www.rncos.com/Report/IM301.htm)
- Vietnam Insurance Sector Forecast to 2014 (http://www.rncos.com/Report/IM326.htm)
- Poland Insurance Market Forecast to 2014 (http://www.rncos.com/Report/IM325.htm)

About RNCOS

RNCOS specializes in Industry intelligence and creative solutions for contemporary business segments. Our professionals analyze the industry and its various components, with a comprehensive study of the changing market behavior. Our accuracy and data precision proves beneficial in terms of pricing and time management that assist the intending consultants in meeting their objectives in a cost-effective and timely manner.

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Tag Words: union assurance plc

Categories: Insurance

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