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New Market Report: Non-Life Insurance in Thailand, Key Trends and Opportunities to 2017

New Insurance research report from Timetric is now available from Fast Market Research

 

Boston, MA -- (SBWIRE) -- 01/06/2014 -- The Thai non-life insurance segment grew at a review-period (2007-2012) CAGR of 7.6% due to an expanding economy and a rise in the disposable incomes of Thai citizens. The impact has primarily been an increase in the number of automobiles purchased, which led to an increase in the value of motor insurance gross written premiums. In 2011, the destruction from floods influenced both individuals and businesses to take out insurance or enhance cover on properties and inventories. As a result, the non-life insurance segment is expected to register a CAGR of 7.1% between 2012 and 2017.

Key Highlights

- The Thai non-life insurance segment grew at a review-period (2007-2012) CAGR of 7.6% due to an expanding economy and a rise in the disposable incomes of Thai citizens
- The Thai non-life insurance segment is highly fragmented, with the top seven companies accounting for just over 50% of direct premiums collected during the first six months of 2013
- Thailand's non-life segment offers an attractive opportunity for foreign insurers, as so far only a few are present in the country
- The penetration level of the non-life segment in 2011 was just 1.1%, compared to the global average of 3.7%
- Non-life policies are typically distributed through brokers. The written premium for new business generated through this distribution channel accounted for 54.1% of the new business gross written premium generated in the segment

View Full Report Details and Table of Contents

Scope

This report provides a comprehensive analysis of the non-life insurance segment in Thailand:

- It provides historical values for Thai non-life insurance segment for the report's 2008-2012 review period and forecast figures for the 2012-2017 forecast period
- It offers a detailed analysis of the key sub-segments in Thailand's non-life insurance segment, along with market forecasts until 2017
- It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, frauds and crimes, total assets, total investment income and retentions
- It analyses the various distribution channels for non-life insurance products in Thailand
- Using Porter's industry-standard "Five Forces" analysis, it details the competitive landscape in Thailand for the non-life insurance segment
- It provides a detailed analysis of the reinsurance segment in Thailand and its growth prospects
- It profiles the top non-life insurance companies in Thailand and outlines the key regulations affecting them

Reasons to Get This Report

- Make strategic business decisions using in depth historic and forecast market data related to the Thai non-life insurance segment and each category within it
- Understand the demand-side dynamics, key market trends and growth opportunities within the Thai non-life insurance segment

Companies Mentioned in this Report: Viriyah Insurance Co. Ltd, Dhipaya Insurance Public Co. Ltd, Bangkok Insurance Public Co. Ltd, Syn Mun Kong Insurance Public Co. Ltd, The Safety Insurance Public Co. Ltd, LMG Insurance Co. Ltd, Thanachart Insurance Co. Ltd, Tokio Marine Sri Muang Insurance Co. Ltd, Muang Thai Insurance Public Co. Ltd, Car Accident Victims Protection Co. Ltd

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