|
|
 |
|
Viewing report
|
|
|
|
Asia-Pacific Insurance Sectors : A Company and Industry Analysis (June 2008)
Mergent, June 2008, Pages: 32
This report updates the previous Asia-Pacific insurance report, focusing on the markets in Australia, China, India, Japan, Singapore and South Korea
Current Environment - Key Points
- Despite the global economic slowdown, most Asia-Pacific insurance industries remained resilient, due to regulatory limitations and strong local growth
- China had the fastest growing market in the Asia-Pacific, while several other insurance markets, including India, Malaysia, Thailand and Saudi Arabia, continued to catch up in terms of growth and development
- Despite having emerged relatively unscathed from the turbulence in global markets, some Asian insurance markets showed signs of capital strains, with investment returns down
- The consequences of a collapse of the region's stock markets left many industry watchers wary, which led to a 6.6% decline in the Dow Jones Asia-Pacific Insurance Index to 167.19 points in the six months to February 1, 2008
- Merger and acquisition (M&A) activity was relatively quiet over the last six months, compared to previous years
Even so, Asia-Pacific insurers remained aggressive in pursuing their global acquisition ambitions
One prominent deal last November was the acquisition of China's Ping-An Insurance Co Ltd of a 47.2% stake in Dutch-Belgian Fortis for US$2.7 billion
Industry Profile - Key Points
- The Asia-Pacific, known to have the fastest growing insurance markets in the world, is gradually liberalizing and widening the outreach for insurance, while unlocking considerable market potential in new growth areas
- The global market slowdown has not hampered the region's insurance market development, with fundamental strength in demand and wealth creation
- Insurance is still one truly underdeveloped financial market in the Gulf Region
Fast rising GDPs, population growth and government reforms, however, will provide the fuel for what insurance companies say will make the insurance sector even more promising in future years
- Profits at Chinese insurers are already expected to take a beating this year as they braced for what observers said to be the biggest payout in history in the wake of the country's worst snowstorm in January and the earthquake in May
Market Trends and Outlook - Key Points
- Despite the growing scale of shipping activity in the Asia-Pacific, marine insurers are merely surviving rather than thriving because of flattening premium prices
- Microinsurance represents a huge and untapped business opportunity in Asia, considering that the region is home to the most number of poor people in the world
- Ongoing financial liberalization in the Asia-Pacific is extending banking and credit institution networks into more remote rural areas and driving the introduction of agricultural insurance
- The constraints of regulations and prudent investment strategies have limited the impact of Asia- Pacific based insurers against the ongoing turbulence caused by the US subprime woes
- Strong domestic fundamentals including robust private consumption and increasingly educated populations are driving up the demand for insurance products in the Asia-Pacific.
Customers who bought this item also bought
The Asia-Pacific Insurance Sectors : A Company and Industry Analysis (October 2007)
The Asia-Pacific Insurance Sectors : A Company and Industry Analysis (April 2007)
Asia-Pacific Insurance Industry - Global Strategic Business Report
IT in the Insurance Industry - Emerging Trends and Market Opportunities in Asia Pacific
Asia-Pacific Niche Insurance Markets - Global Strategic Business Report
Motor Insurance in Asia-Pacific
The Asia-Pacific Insurance Sectors : A Company and Industry Analysis (April 2006)
Asia-Pacific Property Sectors : A Company and Industry Analysis (June 2008)
Life Insurance in Asia-Pacific
Asia-Pacific IT & Technology Sectors : A Company and Industry Analysis (July 2008)
The Asia-Pacific Insurance Sectors : A Company and Industry Analysis (October 2006)
The Asia-Pacific Biotechnology Sectors : A Company and Industry Analysis (June 2007)
|
|
|
|
