2013-02-01 18:19:39 - Fast Market Research recommends "Thailand Insurance Report Q1 2013" from Business Monitor International, now available

Key Insights And Key Risks

The Thailand Insurance Report considers the prospects for both life and non-life insurers in the country. BMI continues to rate Thailand as a medium-sized, but rapidly growing insurance market that is undergoing transition. Both segments are rising at double-digit rates. In the life segment, the increase in business is coming - as far as we can see - from the wealthiest 24% of the population that already use life insurance. Over the last year or so, we have highlighted initiatives from the major companies such as: the development of new products; expanded agency networks; increases to agent productivity; bancassurance deals, and the development of direct sales and other distribution channels. In short, life insurance is developing

further as an important conduit for those households who can afford it. The major life companies responded very well to the challenges posed by the floods in late 2011. They took a flexible approach with customers, whose ability to pay premiums was temporarily compromised by the disruption. In the meantime, the revised mortality tables mean that life insurance customers will probably enjoy a reduction in rates and premiums over the next year or so.


Full Report Details at
- www.fastmr.com/prod/529506_thailand_insurance_report_q1_2013.asp ..


As of November 2012, it is clear that floods of 2011 have had a profound impact on the non-life segment. Substantial hikes in reinsurance costs have been passed on to customers by way of across-the-board, and large rises, in prices and rates in all lines (including motor, which accounts for about half of all premiums written). Some of the non-life insurers' corporate customers have clearly had problems in paying for flood cover, if they have been able to get it at all, in 2012. However, the non-life segment as a whole has been boosted by Thailand's economic recovery in the wake of the floods. Non-life penetration has clearly shifted upwards, having been kept down by the competitive pressures of a fragmented segment for years.

Over the last quarter, BMI has made the following changes:

* The company profiles have been comprehensively rewritten and, in many cases, include comments published in late 2012 in relation to operations in H112 and Q312.
* The latest forecasts and projections for Thailand's economy, along with key aspects such as healthcare spending, have been incorporated.

Report Table of Contents:

Executive Summary
- Table: Total Premiums, 2010-2017
- Key Insights And Key Risks
SWOT Analysis
- Thailand Insurance Industry SWOT
- Thailand Political SWOT
- Thailand Economic SWOT
- Thailand Business Environment SWOT
Life Sector Overview
- Asia Pacific Life Sector Overview
- Table: Asia Pacific Life Premiums, 2010-2017, (US$mn)
- Thailand Life Sector Update
Life Industry Forecast Scenario
- Table: Life Premiums, 2010-2017
- Growth Drivers And Risk Management Projections
- Population
- Table: Insurance Key Drivers, Demographics, 2010-2017
Non-Life Sector Overview
- Asia-Pacific Non-Life Sector Overview
- Table: Asia Pacific's Non-Life Premiums, 2010-2017, (US$mn)
- Thailand Non-Life Sector Update
Non-Life Industry Forecast Scenario
- Table: Non-Life Premiums, 2010-2017
- Growth Drivers And Risk Management Projections
- Macroeconomic Outlook
- Table: Macroeconomic Data And Forecasts, 2010-2017
- Political Stability Outlook
- Table: Asia Pacific Regional Security Ratings
- Healthcare
- Epidemiology
- Table: Insurance Key Drivers, Disease Adjusted Life Years, 2010-2017
- Motor
Insurance Risk/Reward Ratings
- Table: Thailand's Insurance Risk/Reward Ratings
- Table: Asia Pacific Insurance Risk/Reward Ratings
Competitive Landscape
- Major Players In Thailand's Insurance Sector
Company Profiles
- ACE Group
- Ageas
- AIA Group
- AIG
- Allianz
- AXA
- Bangkok Life Assurance/Bangkok Insurance
- BNP Paribas Cardif
- Fairfax Financial Holdings
- Manulife Financial
- Muang Thai Life Assurance/Muang Thai Insurance
- Prudential plc
- QBE Insurance Group
Country Snapshot
- Table: Thailand's Population By Age Group, 1990-2020 ('000)
- Table: Thailand's Population By Age Group, 1990-2020 (% of total)
- Table: Thailand's Key Population Ratios, 1990-2020
- Table: Thailand's Rural And Urban Population, 1990-2020
BMI Methodology
- Insurance Risk/Reward Ratings
- Table: Insurance Risk/Reward Indicators And Rationale
- Table: Weighting Of Indicators

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