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The Insurance Industry in Bhutan, Key Trends and Opportunities to 2017

Bhutan insurance market: High poverty levels hindering industry development


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2014-02-20 15:36:01 - The Insurance Industry in Bhutan, Key Trends and Opportunities to 2017 - a new market research report on companiesandmarkets.com

Bhutan is among the poorest countries in the world, with around a quarter of the population living below the poverty line. The combination of a significantly large rural population, high levels of poverty and a low literacy rate is hindering the growth of the insurance industry in the country. However, the Bhutanese economy has grown rapidly between 2008 and 2012. GDP at current prices grew at a CAGR of 15.0% during the review period, benefiting the insurance industry, which grew in terms of gross written premium at a CAGR of 23.8% during the review period. Despite this impressive growth, insurance penetration remains very low, at 1.1% in 2012.

Key Highlights

• Non-life insurance drove the growth of the Bhutanese insurance industry during

 

 

the review period

• The segment grew at a CAGR of 21.4% during the review period

• Increasing efforts by the government of Bhutan to improve regulatory and supervisory systems and financial literacy in the country will support the growth of insurance over the forecast period

• During the review period, strong growth in the insurance industry was driven by robust economic growth in the country

• The Royal Monetary Authority (RMA) of Bhutan, the countrys insurance industry regulator, launched a new regulatory framework for the industry in 2011

Report Scope

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

• It provides historical values for the Bhutanese insurance industry for the reports 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 Bhutanese insurance industry, along with industry 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 outlines the key regulations affecting the insurance industry

Reasons to Buy

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

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Mike King
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