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New Market Report: The Insurance Industry in Palau, Key Trends and Opportunities to 2017

Recently published research from Timetric, "The Insurance Industry in Palau, Key Trends and Opportunities to 2017", is now available at Fast Market Research

 
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Boston, MA -- (SBWIRE) -- 07/08/2013 -- Palau is one of the smallest countries in the world with a population of 21,032 in 2012. The combination of several factors such as geographical isolation, scarcity of natural resources, lack of proper infrastructure and less experienced professionals is hindering the growth of the insurance industry in the country. However, the Palauan economy witnessed healthy growth during the review period. GDP at current prices grew at a CAGR of 7.1% during the review period, boosting the growth of the insurance industry. The insurance industry grew in terms of gross written premiums at a CAGR of 7.7% during the review period. Despite recording such healthy growth, insurance penetration remains very low.

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Key Highlights

- Palau, an island country situated in the Pacific Ocean, is one of the smallest sovereign states in the world. The country's GDP at current prices witnessed an annual growth of 7.1% during the review period
- Life insurance remained the most popular segment in the Palauan insurance industry during the review period
- Despite recording healthy growth, insurance penetration remains very low
- Palauan insurers have a high retention ratio, especially in the case of life insurance, which demonstrates their strong in-house underwriting capabilities
- Various constraints such as a small population, geographical isolation, unavailability of expertise and skill sets, a lack of natural resources and proper infrastructure restricted the growth of the insurance industry

Scope

This report provides a comprehensive analysis of the insurance industry in Palau:

- It provides historical values for the Palauan insurance industry 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 segments and sub-segments in the Palauan insurance industry, along with forecasts until 2017
- It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, total investment income and retentions
- It profiles the top insurance companies in Palau and outlines the key regulations affecting them

Reasons to Get This Report

- Make strategic business decisions using in depth historic and forecast industry data related to the Palauan insurance industry and each segment within it
- Understand the demand-side dynamics, key trends and growth opportunities within the Palauan insurance industry
- Assess the competitive dynamics in the Palauan insurance industry
- Identify the growth opportunities and market dynamics within key segments
- Gain insights into key regulations governing the Palauan insurance industry and its impact on companies and the industry's future

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