Boston, MA -- (SBWIRE) -- 06/04/2013 -- Economic development, the entry of five new businesses and the requirement of third-party motor liability insurance caused the written premium value to grow during the review period. The Lao insurance industry is uncompetitive due to the limited presence of insurers and lack of interest from global investors. The situation is expected to change significantly after the country's recent entry into the WTO. The Lao insurance industry is expected to grow at a CAGR of 10.8%, over the forecast period. The distribution channel of the industry predominantly depends on direct sales, which accounts for one-third of the total sales in the country.

Key Highlights

- The non-life insurance segment accounted for the largest share of the total insurance written premium value in 2012.
- With the country's accession to the WTO, the industry is predicted to grow over the forecast period, at a CAGR of 10.8%.
- The Lao government has introduced compulsory third-party motor liability insurance.
- Motor insurance was the largest category in non-life, with the largest growth rate during the review period.
- The property insurance category has experienced significant growth during the review period at a CAGR of 22.4%.
- The Lao insurance industry is restricted to property, transportation, motor and casualty insurance, which generate a significant proportion of premium.

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Scope

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

- It provides historical values for the Lao 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 Lao 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 Laos 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 Lao insurance industry and each segment within it
- Assess the competitive dynamics in the Lao insurance industry
- Understand the demand-side dynamics, key market trends and growth opportunities within the Lao insurance industry
- Identify the growth opportunities and market dynamics within key segments
- Gain insights into key regulations governing the Lao insurance industry and its impact on companies and the industry's future

Companies Mentioned in this Report: Allianz General Laos (AGL), Tokojaya Lao Assurance Co. Ltd, Lane Xang Assurance Public Company

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