Thailand Insurance Report Q1 2016

Date: December 16, 2015
Pages: 54
US$ 1,295.00
Report type: Strategic Report
Delivery: Download

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Includes 3 FREE quarterly updates

BMI View: 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.
BMI Industry View
  Table: Headline Insurance Forecasts (Thailand 2012-2019)
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
Muang Thai Life Assurance/Muang Thai Insurance
Prudential plc
Industry Forecast Methodology
Risk/Reward Index Methodology
  Table: Indicators
  Table: Weighting of Indicators
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