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Thailand Insurance Report Q1 2016

  • ID: 3511199
  • December 2015
  • Region: Thailand
  • 54 pages
  • Business Monitor International
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FEATURED COMPANIES

  • AIA Group
  • Allianz
  • Prudential plc
  • MORE

In global terms, Thailand ranks as a medium sized and fairly rapidly growing market for insurance. Long standing trends should support steady rises in premiums in both the life and the non-life segments. 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 larger than the non-life segment. In a country with under-developed capital markets and limited state-provided social security, life insurance is well established as a conduit for organised savings among those households who can afford it. Although the results of the leading life insurers for the first six or nine months of 2015 have been quite varied, it appears that the risks to our forecasts are to the upside. Put another way, the slowing of Thailand's economy has had less impact on the development of premiums than we had anticipated. It is easy to see drivers of growth. Over the long term, the disposable income of the wealthiest 25% of households should continue to grow steadily. The leading life insurers are innovative. 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.

Note: Product cover images may vary from those shown
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FEATURED COMPANIES

  • AIA Group
  • Allianz
  • Prudential plc
  • MORE

Table: Headline Insurance Forecasts (Thailand 2012-2019)

SWOT

Industry Forecast

Life Premiums Forecast
Table: Life Premiums (Thailand 2012-2019)
Table: Life Insurance Claims (Thailand 2007-2014)

Non-Life Premiums Forecast
Table: Non-Life Premiums (Thailand 2012-2019)
Table: Non-Life Insurance Claims (Thailand 2008-2014)

Non-Life Sub-Sector Forecast
Table: Non-Life Insurance Premiums by Product Line (Thailand 2012-2019)

Industry Risk Reward Ratings

Asia Pacific Industry Risk/Reward Index
Table: Asia Pacific Insurance Risk/Reward Index

Market Overview

Life Market Overview

The Product Offering
Table: Life Premiums (USDmn), 2007-2013

The Competitive Landscape
Table: Life Market Shares (%), 2007-2013

Non-Life Market Overview

The Product Offering
Table: Non-Life Insurance Premiums (USDmn), 2007-2013

The Competitive Landscape
Table: Non-Life Market Shares (%), 2007-2013

Company Profile

AIA Group

Allianz

Muang Thai Life Assurance/Muang Thai Insurance

Prudential plc

Methodology

Industry Forecast Methodology

Risk/Reward Index Methodology
Table: Indicators
Table: Weighting of Indicators

Note: Product cover images may vary from those shown
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AIA Group
Allianz
Muang Thai Life Assurance/Muang Thai Insurance
Prudential plc

Note: Product cover images may vary from those shown
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Note: Product cover images may vary from those shown

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