Takaful: A New and Viable Insurance Segment in Sri Lanka

Sri Lankan Takaful insurance industry is exhibiting a tremendous growth potential. With the entry of various banks as Sri Lanka’s first fully fledged Islamic Bank & two commercial banks in 2011, the industry is showing a promising market for Takaful insurance, as most of the need for General insurance still stems from the banking and finance industry. At present, Amana Takaful is Sri Lanka’s only takaful insurer. On the back of more and more acceptance among the consumers coupled with rapid economic growth and sizable underinsured population, takaful insurance market is anticipated to attain a significant growth in future.

According to our research report, “Sri Lankan Insurance Industry Analysis”, the Insurance Industry in Sri Lanka is dominated by general insurance segment that witnessed 23% growth in its gross written premium in 2011, compared to the previous year. The industry is expected to grow at a significant rate in the coming years with gross written premium (GWP) growing at a CAGR of around 21% during 2012-2015. Our report entails detailed analysis of industry segments including long term and general insurance along with their forecast.

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 including 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 report, “Sri Lankan Insurance Industry Analysis”, covers all the key aspects that depict a 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 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.

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

Some of our Related Reports are:

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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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This release was published on openPR.