"Thailand Insurance Report Q3 2011" is now available at Fast Market Research

New Financial Services market report from Business Monitor International: "Thailand Insurance Report Q3 2011"
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July 26, 2011 - PRLog -- Key Insights And Key Risks

* For the time being, Thailand's insurance sector appears to be booming. Life insurance premiums could rise by almost 20% this year.
 * It appears that the expansion of the non-life segment depends basically on the growth of the economy. Non-life penetration has not been increasing over the last five years and is expected to remain constant throughout the forecast period.
 * As is the case in the rest of Asia, life insurance is an important and growing channel for organised savings. AIA is the dominant player, accounting for over one third of the premiums written.
 * There are various challenges. The non-life segment consists of dozens of sub-scale, mainly local operators. We suspect that there has not been discipline in pricing of risks. In the life segment, the local groups may find that lack of capital becomes a challenge.

The latest reports from the regulator and other commentators mean that, for the Q411 report on Thailand's insurance sector, we will definitely be revising upwards our figures for 2010 life premiums and estimates for 2011 premiums. Press reports, citing the regulator, suggest that the life segment expanded by about one-third in 2010.

Full Report Details at
- http://www.fastmr.com/prod/209777_thailand_insurance_repo...

As far as we can see, the growth is coming mainly from increased sales to the fairly wealthy minority Thais (many of whom are ethnic Chinese and almost all of whom live in or near Bangkok). In some cases, the growth is through the purchase of new products; in others, the result of particular life insurers emphasising bancassurance or other new distribution channels. Interestingly, AIA is focusing on boosting the productivity and efficiency of its network of agents.

For all the excitement, however, Thailand is not a market that all the multi-nationals active in the region necessarily feel that they must have a substantial presence in. New York Life, for instance, has sold out of Siam Commercial New York Life to Siam Commercial Bank. The local operations of Prudential plc and Manulife are small relative to their other businesses in the region. Sun Life Financial does not have a presence.

The life segment appears to be more dynamic than the non-life. Competitive pressures appear to be tough for non-life insurers - in that penetration (ie premiums as a percentage of GDP) has scarcely changed over the last five years. Consolidation is likely.

Report Table of Contents:

Executive Summary
- Table: Total Premiums 2008-2015
- Key Insights And Key Risks
SWOT Analysis
- Thailand Insurance Industry SWOT
- Thailand Political SWOT
- Thailand Economic SWOT
- Thailand Business Environment SWOT
Life Sector
- Asia Pacific Life Sector Overview
- Table: Asia Pacific's Life Premiums, 2008-2015 (US$mn)
- Thailand Life Sector Update
- Table: Breakdown Of Premiums Income, 8M10
- Industry Forecast Scenario - Life
- Table: Total Life Premiums 2008-2015
- Growth Drivers And Risk Management Projections
- Population
- Table: Insurance Key Drivers, Demographics 2008-2015
Non-Life Sector
- Asia Pacific Non-Life Sector Overview
- Table: Asia Pacific Non-life Premiums, 2008-2015
- Thailand Non-Life Sector Update
- Table: Breakdown Of Premium Income, 8M10
- Industry Forecast Scenario - Non-Life
- Table: Total Non-Life Premiums 2008-2015
- Growth Drivers And Risk Management Projections
- Macroeconomic Outlook
- Table: Macroeconomic Data and Forecasts 2008-2015
- Political Stability Outlook
- Table: Asia Pacific Regional Security Ratings
- Healthcare
- Healthcare Insurance
- Epidemiology
- Table: Insurance Key Drivers, Disease Adjusted Life Years 2008-2015
- Motor
- Table: Insurance Key Drivers, Autos 2008-2015
- Tourism
- Table: Insurance Key Drivers, Tourism 2008-2015
- Islamic Finance
Insurance Business Environment Ratings
- Table: Thailand's Insurance Risk/Reward Ratings
- Table: Asia Pacific Insurance Risk/Reward Ratings
Competitive Landscape
- Competitive Landscape Analysis
- Table: Ranking Of Life Companies By Gross Written Premiums, 8M10
- Table : Rankings Of Non-Life Companies By Gross Written Premiums, 8M10
Company Profiles
- Local Company Profiles
- Dhipaya Insurance
- Thai Life Insurance Company
- Viriyah
- Regional Company Profiles
- Ageas
- AIA Group Limited (AIA)
- Chartis
- Allianz
- Aviva
- BNP Paribas Cardif
- HDI-Gerling
- HSBC Insurance
- ING Group
- Liberty Mutual
- Manulife
- MetLife ALICO
- Prudential Financial
- Prudential plc
- Sun Life Financial
- The Principal
- Zurich Financial Services
BMI Methodology
- Insurance Business Environment Ratings
- Table: Insurance Business Environment Indicators And Rationale
- Table: Weighting Of Indicators

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Fast Market Research is an online aggregator and distributor of market research and business information. We represent the world's top research publishers and analysts and provide quick and easy access to the best competitive intelligence available.
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Tags:Insurance, Non-life, Premiums, Thai, Auto, Fragmented, Associates, Regulator, Case, Bangkok
Industry:Finance, Research, Banking
Location:Massachusetts - United States
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