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Thailand Insurance Sector Product Image

Thailand Insurance Sector

  • ID: 606283
  • May 2008
  • Region: Thailand
  • 163 Pages
  • The Knowledge Centre (Sheffield Haworth)

FEATURED COMPANIES

  • Bangkok Union Insurance
  • Charan Insurance
  • Deves Insurance
  • Indara Insurance
  • ING Life Limited
  • MSIG Insurance
  • MORE

Thailand is the 2nd largest economy in Southeast Asia, after Indonesia. It ranks midway in the wealth spread in South East Asia and is the 4th richest nation per capita, after Singapore, Brunei, and Malaysia. The Thai economy in 2008 is forecasted to grow at 5.6% (in the forecasted range of 5.0-6.0%). This figure is an improvement on 4.8% growth in the
previous year according to Fiscal Policy Office (FPO), Ministry of Finance. In 2008 accelerated public sector spending led to recovery in domestic demand which is expected to be far more balanced economic expansion. Government policy would then be forced to stimulate the domestic economy. This happens when external demand is likely to be softened from possible global economic slowdown. External stability in 2008 will remain strong with current account surplus estimated to be 0.5% of GDP (in the range of 0.3-0.8% of GDP). In contrast, internal stability in 2008 may have some risk with increasing headline inflation at 4.5% (in a range of 4.3-4.8%). This is mainly due to rising energy and food prices in the world markets.

According to ‘The Economist’, real GDP growth will slow down by 1.15% p.a over the next 4 years READ MORE >

Note: Product cover images may vary from those shown

FEATURED COMPANIES

  • Bangkok Union Insurance
  • Charan Insurance
  • Deves Insurance
  • Indara Insurance
  • ING Life Limited
  • MSIG Insurance
  • MORE

1. THAILAND
1.1. THAI ECONOMY
1.2. GOVERNMENT POLICIES

2. THAI INSURANCE SECTOR
2.1. MARKET OVERVIEW
2.2. MARKET PERFORMANCE & FORECAST
2.2.1. Thailand Insurance Market
2.2.1.1. Thailand – Life Insurance Market
2.2.1.2. Thailand – Non-Life Market
2.3. DRIVING FACTORS
2.3.1. Recent Reforms
2.3.2. M&A or transfer of the business of an Insurance Company
2.3.3. Thai Corporate Finance Legislation
2.3.4. Role of Bancassurance
2.3.5. Recent Regulatory Developments
2.3.6. Insurance Commission replaced Department of Insurance
2.4. TRENDS, ISSUES AND OPPORTUNITIES – AN ANALYSIS
2.4.1. Insurance M&A likely to drop
2.4.2. Pending Legislations
2.4.3. Implications for Foreign Insurers
2.4.4. Skills development remains a key
2.4.5. Issues in Health Insurance Systems in Thailand
2.5. GOVERNMENT REGULATIONS
2.6. COMPETITIVE LANDSCAPE
2.6.1. Life Insurance
2.6.1.1. Life Insurance Renewal Market
2.6.1.2. Single Premium Market
2.6.2. Non-Life Insurance Market
2.6.2.1. Fire Insurance Market
2.6.2.2. Marine and Transportation Market
2.6.2.3. Cargo & Hull Market
2.6.2.4. Automobile Sector
2.6.2.5. Miscellaneous Insurance
2.6.2.6. Industrial All Risks Insurance
2.6.2.7. Public Liability Insurance
2.6.2.8. Engineering Insurance
2.6.2.9. Aviation Insurance
2.6.2.10. Health Insurance
2.6.2.11. Personal Accident Insurance
2.6.2.12. Other Insurance
2.6.3. Company Profiles
2.6.3.1. American International Assurance company (AIA), Thailand
2.6.3.2. ACE INA Overseas Insurance Company Limited
2.6.3.3. Ayudhya Insurance Public Company Limited
2.6.3.4. Ayudhya Allianz C.P. Life Public Company Limited
2.6.3.5. Bangkok Insurance Public Company Limited
2.6.3.6. Bangkok Union Insurance
2.6.3.7. Charan Insurance
2.6.3.8. Deves Insurance
2.6.3.9. ING Life Limited
2.6.3.10. Indara Insurance
2.6.3.11. Manulife Insurance (Thailand) Public Company Limited
2.6.3.12. MSIG Insurance
2.6.3.13. QBE Insurance (Thailand) Company Limited
2.6.3.14. Sri Muang Insurance
2.6.3.15. The Viriyah Insurance Co., Ltd.

List of Tables
Table 1: Macroeconomic Trends: Population (mil.) vs. Nominal GDP ($ bil.) – 2002-2011f
Table 2: Macroeconomic Trends: GDP per capital ($ bil.) vs. Real GDP Growth (%) – 2003-2011f
Table 3: Growth Trends: Inflation (2002-2008f)
Table 4: Key Economic Indicators Forecast – 2007-2012f
Table 5: Growth Trend Comparison: GDP Growth vs. Insurance Growth (%) – 2000-2011
Table 6: Thailand Insurance Market Value ($million): 2000-2007
Table 7: Thailand Insurance Market Value Forecast ($million): 2007-2011f
Table 8 : Insurance Density: Premiums Per Capita in USD
Table 9: Insurance Premium in % of GDP (2001-2011f)
Table 10: Growth Trend of Life Insurance and Non-Life Insurance ($Million): 2000-2011f
Table 11: Thailand Life Insurance Market Value ($million): 2000-2007
Table 12: Thailand Life Insurance Market Value Forecast ($million): 2007-2011f
Table 13: Thailand Non-Life Insurance Market Value ($million): 2000-2007
Table 14: Thailand Non-Life Insurance Market Value Forecast ($million): 2007-2011f
Table 15: Thailand Insurance Sector: Projections of Macroeconomic Drivers (2006-2010f)
Table 16: Market Share of Top Players in Life Insurance Sector: Comparison between 2006 & 2007 (Million Baht) and their Growth (%)
Table 17: Life Insurance Total Premium Growth Year on Year by Company 2006-2007 (%)
Table 18: Life Insurance Market Growth by First Year Premium of Top Companies: Comparison between 2006 & 2007 (mn Baht)
Table 19: Life Insurance Market Growth by First Year Premium of Top Companies: Comparison between 2006 & 2007 (%)
Table 20: Life Insurance Premium Renewal (million Baht) and Growth (%) Year on Year for Top Companies (2006-2007)
Table 21: Life Insurance Renewal Market Share of Top Companies in 2007 (mn Baht)
Table 22: Life Insurance Single Premium Market Share of Top Companies in 2007 (mn Baht & % growth)
Table 23: Loss Ratio of Non - Life Insurance Business (2007)
Table 24: Marine and Transportation Companies: Markey Share by Direct Premium (Unit: 1,000 Baht)
Table 25: Automobile Insurance Top companies by Direct Premium (2007)
Table 26: Top Miscellaneous Non-Life Insurance Companies: Market Share by Direct Premium (%) – 2007
Table 27: Top Industrial All Risk Non-Life Insurance Companies: Market Share by Direct Premium – 2007
Table 28: Top Public Liability Non-Life Insurance Companies: Market Share by Direct Premium – 2007
Table 29: Top Engineering Non-Life Insurance Companies: Market Share by Direct Premium (%) – 2007
Table 30: Top Aviation Non-Life Insurance Companies: Market Share by Direct Premium – 2007
Table 31: Top Health Insurance Companies: Market Share by Direct Premium – 2007
Table 32: Top Personal Accident Insurance Companies: Market Share by Direct Premium – 2007
Table 33: Top Other Non-Life Insurance Companies: Market Share by Direct Premium – 2007

List of Charts
Chart 1: Macroeconomic Trends: Population (mil.) vs. Nominal GDP ($ bil.) – 2002-2011f
Chart 2: Macroeconomic Trends: GDP per capital ($ bil.) vs. Real GDP Growth (%) – 2003-2011f
Chart 3: Growth Trends: Inflation (2002-2008f)
Chart 4: Key Economic Indicators Forecast (2007-2012f)
Chart 5: Growth Trend Comparison: GDP Growth vs. Insurance Growth (%) – 2000-2011f
Chart 6: Thailand Insurance Market Value ($billion): 2000-2007
Chart 7: Thailand Insurance Market Value Forecast ($million): 2007-2011f
Chart 8: Insurance Density: Premiums Per Capita in USD
Chart 9: Insurance Premium in % of GDP (2001-2011f)
Chart 10: Thailand Insurance Market: Segment Share 2007
Chart 11: Growth Trend of Life Insurance and Non-Life Insurance ($Million): 2000-2011f
Chart 12: Thailand Life Insurance Market Value ($million): 2000-2007
Chart 13: Thailand Life Insurance Market Value Forecast ($million): 2007-2011f
Chart 14: Thailand Non-Life Insurance Market Value ($million): 2000-2007
Chart 15: Thailand Non-Life Insurance Market Value Forecast ($million): 2007-2011f
Chart 16: Market Segmentation of Non-Life Insurance (%): 2007
Chart 17: Market Segmentation of Non-Life Companies by Ownership 2007 (%)
Chart 18: Comparison of Direct Premiums of Non - Life Insurance Business (2007 & 2006)
Chart 19: Direct Premium per Insurance Policy for 2007-2006 (Baht)
Chart 20: Comparison of Sum Insured Per Premium of Non - Life Insurance Business Segments (2007 & 2006)
Chart 21: Loss Ratio of Non - Life Insurance Business (2007)
Chart 22: Market Share of Top Life Insurance Companies by Total Premium in 2007 (%)
Chart 23: Life Insurance First Year Premium Market Segment in 2007 by Top Companies(%)
Chart 24: Life Insurance Premium Renewal (million Baht) and Growth (%) Year on Year for Top Companies (2006-2007)
Chart 25: Life Insurance Renewal Market Share of Top Companies in 2007 (%)
Chart 26: Single Insurance Premium Company Segmentation 2007
Chart 27: Fire Insurance Companies – Market Share (%): 2007
Chart 28: Marine & Transport Insurance Segment Share (%): 2007
Chart 29: Cargo and Hull Market: Direct Premium Share (%) in 2006-2007
Chart 30: Marine and Transportation Companies: Markey Share by Direct Premium (Unit: 1,000 Baht)
Chart 31: Market Share of Automobile Insurance Sub Sector 2007
Chart 32: Automobile Insurance Top Companies – Market Share by Direct Premium (%) – 2007
Chart 33: Market Share of Miscellaneous Non-Life Sector (%) – 2007
Chart 34: Top Miscellaneous Non-Life Insurance Companies: Market Share by Direct Premium (%) – 2007
Chart 35: Top Industrial All Risk Non-Life Insurance Companies: Market Share by Direct Premium (%) – 2007
Chart 36: Top Public Liability Non-Life Insurance Companies: Market Share by Direct Premium (%) – 2007
Chart 37: Top Engineering Non-Life Insurance Companies: Market Share by Direct Premium (%) – 2007
Chart 38: Top Aviation Non-Life Insurance Companies: Market Share by Direct Premium (%) – 2007
Chart 39: Top Health Insurance Companies: Market Share by Direct Premium (%) – 2007
Chart 40: Top Personal Accident Insurance Companies: Market Share by Direct Premium (%) – 2007
Chart 41: Top Other Non-Life Insurance Companies: Market Share by Direct Premium (%) – 2007

Authors: Jasvita Anand, Akash Rakyan & Nishith Srivastava

Note: Product cover images may vary from those shown

- American International Assurance company (AIA), Thailand
- ACE INA Overseas Insurance Company Limited
- Ayudhya Insurance Public Company Limited
- Ayudhya Allianz C.P. Life Public Company Limited
- Bangkok Insurance Public Company Limited
- Bangkok Union Insurance
- Charan Insurance
- Deves Insurance
- ING Life Limited
- Indara Insurance
- Manulife Insurance (Thailand) Public Company Limited
- MSIG Insurance
- QBE Insurance (Thailand) Company Limited
- Sri Muang Insurance
- The Viriyah Insurance Co., Ltd.

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

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