Increasing Penetration of Life Insurance in Sri Lanka

Life insurance premium in Sri Lanka is projected to grow at a CAGR of 20% during 2012-2015, says RNCOS in its latest research report.

NOIDA, India (prHWY.com) November 8, 2012 - According to a new research report by RNCOS titled, "Sri Lankan Insurance Industry Analysis", the country has been witnessing a tremendous growth in the Life Insurance sector since the past few years. Favorable economic conditions, new long-term insurance products, introduction and advertising campaigns by insurers are all boosting the demand of Life Insurance products in the country. Existing low penetration rate further opens avenues for the sector to become the main growth driver of the Insurance Industry. On the back of the above factors, life insurance premium in the country is anticipated to rise exhibiting a CAGR of around 20% during 2012-2015.

Besides, Sri Lanka has become an emerging market for the sale of insurance products through Internet or mobile phones. As per our research, consumers in the nation are increasingly moving towards direct purchasing methods, owing to growing internet penetration and smartphones sales in the country. The report also says that, attracted by this thriving market, many international insurance companies are trying to enter the Sri Lanka Insurance Industry.

Moreover, our research describes the market performance of insurance sector by segments. It delivers a comprehensive analysis of various types of insurance in the industry at the same it also provide insights of present regulatory environment in the country. On the back of all favorable macroeconomic conditions and increased per capita income, demand for life insurance products is anticipated to rise in the country.

Our report, "Sri Lankan Insurance Industry Analysis", provides an in-depth research and analysis of the Sri Lankan insurance sector including consumer perception. It also highlights various potential areas for the growth of the industry. On the other hand, the report also explains the challenges for the development of insurance industry in the country which will help new entrants to better understand the industry. Additionally, the report exhibits the details of major players of country's insurance industry to help clients to understand the competitive landscape and its progress in the coming years.

For FREE SAMPLE of this report visit: http://www.rncos.com/Report/IM461.htm

Some of our Related Reports are:

- Booming Health Insurance in India (http://www.rncos.com/Report/IM250.htm)
- Saudi Arabia Insurance Market Analysis (http://www.rncos.com/Report/IM301.htm)
- Poland Insurance Market Forecast to 2014 (http://www.rncos.com/Report/IM325.htm)
- Vietnam Insurance Sector Forecast to 2014(http://www.rncos.com/Report/IM326.htm)
- UAE Insurance Market Forecast to 2012 (http://www.rncos.com/Report/IM023.htm)

Check Related REPORTS on: http://www.rncos.com/Banking&Insurance.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: sri lanka insurance

Categories: Insurance

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