An emerging middle class, rapid urbanization and an aging population will drive growth in the coming years.

In August 2013, the removal of the 2.5% interest rate cap on standard life products is expected to encourage innovation and product development in the life insurance segment.

The existence of  tax-deferred pension schemes and the variable annuity products are expected to spur demand for insurance

A low  (2%) penetration  rate offers opportunity for further expansion.

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