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Thailand Insurance Report Q1 2016

  • December 2015
  • -
  • Business Monitor International
  • -
  • 54 pages

Includes 3 FREE quarterly updates

BMI View: In global terms, Thailand ranks as a medium sized and fairly rapidly growing market forinsurance. Long standing trends should support steady rises in premiums in both the life and the non-lifesegments. The slowing of the economy appears not to have had an overly adverse impact on either segment.

Latest Updates And Forecasts

- As is the norm in South East and East Asia, the life insurance segment of Thailand is substantially largerthan the non-life segment. In a country with under-developed capital markets and limited state-providedsocial security, life insurance is well established as a conduit for organised savings among thosehouseholds who can afford it. Although the results of the leading life insurers for the first six or ninemonths of 2015 have been quite varied, it appears that the risks to our forecasts are to the upside. Putanother way, the slowing of Thailand's economy has had less impact on the development of premiumsthan we had anticipated. It is easy to see drivers of growth. Over the long term, the disposable income ofthe wealthiest 25% of households should continue to grow steadily. The leading life insurers areinnovative. Some are enjoying strong increases in sales of riders, such as critical illness covers. Overall,we look for life premiums to rise by around 8% annually from 2016, to reach nearly THB680bn in 2019.

Table Of Contents

Thailand Insurance Report Q1 2016
BMI Industry View 5
Table: Headline Insurance Forecasts (Thailand 2012-2019) 5
Industry Forecast 8
Life Premiums Forecast 8
Table: Life Premiums (Thailand 2012-2019) 11
Table: Life Insurance Claims (Thailand 2007-2014) 11
Non-Life Premiums Forecast 12
Table: Non-Life Premiums (Thailand 2012-2019) 15
Table: Non-Life Insurance Claims (Thailand 2008-2014) 16
Non-Life Sub-Sector Forecast 17
Table: Non-Life Insurance Premiums by Product Line (Thailand 2012-2019) 25
Industry Risk Reward Ratings 27
Asia Pacific Industry Risk/Reward Index 27
Table: Asia Pacific Insurance Risk/Reward Index 28
Market Overview 29
Life Market Overview 29
The Product Offering 29
Table: Life Premiums (USDmn), 2007-2013 30
The Competitive Landscape 31
Table: Life Market Shares (%), 2007-2013 31
Non-Life Market Overview 33
The Product Offering 33
Table: Non-Life Insurance Premiums (USDmn), 2007-2013 34
The Competitive Landscape 35
Table: Non-Life Market Shares (%), 2007-2013 35
Company Profile 37
AIA Group 37
Allianz 40
Muang Thai Life Assurance/Muang Thai Insurance 42
Prudential plc 45
Methodology 48
Industry Forecast Methodology 48
Risk/Reward Index Methodology 51
Table: Indicators 53
Table: Weighting of Indicators 54

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