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Commercial Non-Life Insurance Brokers in Thailand

  • June 2015
  • -
  • Finaccord
  • -
  • 17 pages

Commercial Non-Life Insurance Brokers in Thailand plus the BrokerBASE™ and market data file that accompany it investigate the importance of brokers in the distribution of non-life insurance for businesses in Thailand. This report first provides unique data for the size, segmentation and growth of the Thai commercial non-life insurance market itself. It then quantifies the share of this market that is intermediated by brokers and, based on extensive primary research of around 80 broking entities in total, it ranks the leading 20 brokers in Thailand according to their revenues from commercial non-life insurance, excluding income from other activities such as personal lines and employee benefits.

Table Of Contents

Commercial Non-Life Insurance Brokers in Thailand
Table of Contents

Executive Summary

Introduction

Market Analysis

List of Graphics / Tables



0.0 EXECUTIVE SUMMARY

1.0 INTRODUCTION

What is this report about?

The focus is uniquely on commercial non-life insurance, excluding other types of business...

...and on brokerage, even where intermediaries can act as both agents and brokers

Rationale

Methodology

Research program

Market data analysis

Definitions

Premiums

Abbreviations

Exchange rate

BrokerBASE

Finaccord

2.0 MARKET ANALYSIS

Introduction

Regulatory information

There are close to 500 registered brokers active in non-life insurance in Thailand…

… including individuals as well as corporate entities…

… although changes to the law may alter this picture in future

Commercial non-life insurance market

The Thai commercial lines market was worth just under USD 2.5 billion in premiums in 2014…

… with commercial motor insurance the largest segment within this total

Commercial non-life insurance brokers

Overview of brokers' presence in the distribution of commercial non-life insurance

Brokers represent the main distribution channel for commercial lines in Thailand

Competitor trends and specialisms

The commercial lines broking sector is comparatively fragmented…

… with the top ten brokerages limited to a combined share of less than 40% of the market

The leading six competitors are all owned entirely or in part by foreign investors…

… with IMG Broker the largest wholly indigenous firm

Commercial lines generate a majority of revenues for 17 of the top 20 brokerages in Thailand…

… albeit two are heavily oriented to personal lines

Brokers' distribution strategies

The leading commercial lines brokers in Thailand are typically generalists

Most firms belonging to international broker networks are from outside of the top 20

Future outlook

The distribution share of brokers in commercial lines is expected to have nudged up further by 2018

LIST OF GRAPHICS / TABLES

0.0 EXECUTIVE SUMMARY

Key market data for commercial non-life insurance brokers in Thailand

1.0 INTRODUCTION

2.0 MARKET ANALYSIS

Segmentation of the commercial non-life insurance market in Thailand, 2014

Growth in the commercial non-life insurance market in Thailand by segment, 2010 to 2014

Size and growth of the commercial non-life insurance market in Thailand by segment, 2010 to 2014 (table)

Brokers' share of the commercial non-life insurance market and revenues earned from it in Thailand, 2010 and 2014

Brokers' share of the commercial non-life insurance market and revenues earned from it in Thailand, 2010 and 2014 (table)

Market concentration for commercial non-life insurance broking in Thailand, 2014

Market shares of commercial non-life insurance broking revenues of the top ten brokers in Thailand, 2014

Importance of different types of insurance broking for the top 20 commercial non-life insurance brokers in Thailand

Partners of broker networks in Thailand, 2015

Brokers' forecast share of the commercial non-life insurance market and revenues earned from it in Thailand, 2018

Brokers' forecast share of the commercial non-life insurance market and revenues earned from it in Thailand, 2018

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