While New York Life and ING have exited Indian insurance business, Manulife...
ING Life India released findings of its ING Investor Dashboard Survey for Q2 2011 which was conducted by international and independent research firm The Nielsen Company in June 2011, and involved online interviews with a total of 3,598 mass affluent investors across the 11 Asia Pacific markets.
The results indicating that 85% of metro-middle-class in India feels a greater need to protect their lifestyle, which is one of the highest in the Asia Pacific Region. Driven by change in family circumstances, unstable income or increased family income, more than 75% of those who believe they have less coverage than they need, have indicated that they intend to purchase additional insurance policy in the coming 12 months. This again is the highest amongst the 7 markets surveyed in the region.
India investors remain to be the more optimistic market in the region. However, the high inflation rate in the country continued to hurt the economy. There is a decrease in sentiments, especially in terms of past 3 months economic indicators - Economic situation, return on investments, personal and household financial situations
Navin Suri, Managing Director & Chief Executive Officer of ING Investment Management India said, "India investors' confidence is driven by India's sustained domestic growth momentum. During the second quarter of FY 2011-12, key consumption sectors have continued to show robust growth while investment demand has stalled a bit due to policy & procedural delays. However, recent indicators point to earnestness from the government to step up the pedal and this should augur well for a pickup in investment demand. India will continue to be an attractive investment destination in the medium to long term horizon".
The survey also indicated that Investors in India are expecting revival of growth momentum going through 2011, and looking back, have a positive view of how they fared financially, which may largely be a result of the Sensex 30 Index's stable journey over last several quarters.