Fast Market Research recommends "The Insurance Industry in Brunei Darussalam, Key Trends and Opportunities to 2017" from Timetric, now available

Boston, MA -- (SBWire) -- 07/18/2013 --The low insurance penetration in Brunei reflects a large untapped market, reflecting the immense growth potential of the insurance industry. The Bruneian insurance industry grew in terms of written premium value, at a CAGR of 2.1% during the review period. The industry is projected to grow, at a CAGR of 4.4% over the forecast period. The life insurance segment accounted for the largest market share of the total written premiums in 2012 and is expected to lead the industry over the forecast period. Mandatory insurance classes include motor third-party bodily injury, professional indemnity insurance for insurance brokers, architects and engineers undertaking government contracts, oil pollution liability and workers' compensation. A low awareness level among Bruneians regarding insurance is the major growth hinderance for the life insurance segment. The rising population in Brunei spurred the demand for all kinds of life insurance products during the review period and this trend is expected to continue over the forecast period.

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Key Highlights

- The life insurance segment accounted for the largest share of the total Bruneian insurance written premium, with a CAGR of 5.1% during the review period.
- The non-life insurance segment accounted for the second-largest share of the total insurance written premium, after recording a CAGR of -1.6% during the review period.
- A low awareness level among Bruneians regarding insurance is the major growth hinderance for the life insurance segment.
- Property insurance was the largest category in the segment in terms of written premium value during the review period.
- The motor insurance category was the second-largest non-life insurance category during the review period.

Scope

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

- It provides historical values for the Bruneian 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 categories in the Bruneian insurance industry, along with industry forecasts until 2017
- It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, combined ratio, total assets, total investment income and retentions
- It profiles the top insurance companies in Brunei 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 Bruneian insurance industry and each segment within it
- Assess the competitive dynamics in the Bruneian insurance industry
- Understand the demand-side dynamics, key market trends and growth opportunities within the Bruneian insurance industry
- Identify the growth opportunities and market dynamics within key segments

Companies Mentioned in this Report: AIA Brunei, National Insurance Company Berhad, Great Eastern Life Assurance Co., Ltd, Standard Insurance Sdn Bhd, Tokio Marine Insurance Singapore Ltd

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