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The Insurance Industry in Thailand, Key Trends and Opportunities to 2016

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  • 1. The Insurance Industry in Thailand, Key Trends andOpportunities to 2016Report Details:Published:October 2012No. of Pages: 137Price: Single User License – US$1950SynopsisThe report provides in depth market analysis, information and insights into the insurance market inThailand, including:•The Thai insurance market’s growth prospects by insurance segments and sub-segments•The competitive landscape in the Thai insurance market•The current trends and drivers of the Thai insurance market•The challenges facing the Thai insurance market•The regulatory framework of the Thai insurance marketExecutive summaryThe Thai insurance market has recorded an impressive growth during the review period (2007-2011). Government promotional measures (such as a first-time buyer program for homes andcars), improvement in sales channels (such as the growth of telemarketing) and increasedawareness for insurance products supported this growth. A rise in foreign investments in theindustry over the years has increased competition in the market. There has also been a significantrise in new product offerings such as micro insurance being developed to cater to growing andchanging consumer needs.ScopeThis report provides a comprehensive analysis of the insurance market in Thailand:•It provides historical values for the Thai insurance market for the report’s 2007–2011 review period and forecast figures for the 2012–2016 forecast period•It offers a detailed analysis of the key segments and sub-segments in the Thai insurance market, along with market forecasts until 2016•It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, frauds and crimes, total assets, total investment income and retentions•It profiles the top insurance companies in Thailand and outlines the key regulations affecting themKey highlights•The Thai insurance industry is highly concentrated due to the presence of foreign insurers with large market shares.
  • 2. •The ten leading insurance companies in Thailand accounted for 90.3% of the total written premium in 2011.•The American International Assurance Company is the leading insurance company in Thailand with a market share of 20.2% in 2011.•The presence of foreign insurers increased competitiveness in the industry.•Growth in compulsory third-party motor insurance is a key driver leading to expansion in the motor insurance industry category in the country.Reasons to buy•Make strategic business decisions using in depth historic and forecast market data related to the Thai insurance market and each sector within it•Understand the demand-side dynamics, key market trends and growth opportunities within the Thai insurance market•Assess the competitive dynamics in the Thai insurance market, along with the reinsurance segment•Identify the growth opportunities and market dynamics within key product categories•Gain insights into key regulations governing the Thai insurance market and its impact on companies and the markets futureGet your copy of this report @http://www.reportsnreports.com/reports/199622-the-insurance-industry-in-thailand-key-trends-and-opportunities-to-2016.htmlMajor points covered in Table of Contents of this report includeTable of Contents1 Executive Summary2 Introduction2.1. What is this Report About?2.2. Definitions2.3. Methodology3 Thai Insurance Industry Overview3.1. Industry Overview3.2. Thai Insurance Industry – Market Size, 2007–20163.3. Key Industry Trends and Drivers3.4. Challenges3.5. Regulation4 Market Segmentation4.1. Life Insurance Growth Prospects by Category4.1.1. Individual life insurance category4.1.2. Others insurance category4.1.3. Group life insurance category4.2. Non-Life Insurance Growth Prospects by Category4.2.1. Property insurance category
  • 3. 4.2.2. Motor insurance category4.2.3. Liability insurance category4.2.4. Marine, aviation and transit insurance category4.3. Personal Accident and Health Insurance Growth Prospects by Category4.3.1. Personal accident insurance category4.3.2. Health insurance category4.4. Reinsurance Market Size by Insurance Market, 2007–20165 Competitive Landscape5.1. Overview5.2. Leading Companies5.2.1. AIA Insurance Thailand – company overview5.2.2. The Navakij Insurance Public Company Limited – company overview5.2.3. AXA Insurance Public Company Limited – company overview5.2.4. Ayudhya Allianz C.P. Life Public Company Limited – company overview5.2.5. QBE Insurance (Thailand) Company Limited – company overview5.2.6. Allianz Global Assistance Thailand – company overview5.2.7. Premier International Healthcare Ltd – company overview5.2.8. Thai Life Insurance Co., Ltd – company overview6 Macroeconomic Indicators6.1. GDP at constant prices (US dollar)6.2. GDP per capita at constant prices (US dollar)6.3. GDP at current prices (US dollar)6.4. Construction Output at Current Prices (US$ Billion)6.5. Construction Net Output at Current Prices as a Percentage of GDP6.6. Arable Land6.7. Exports as a Percentage of GDP6.8. Number of Air Passengers6.9. Healthcare Expenditure Per-Capita6.10. Employed Population6.11. Annual Disposable Income6.12. Annual Disposable Income Per Capita6.13. Total Population7 Appendix7.1. Methodology7.2. Contact Us7.3. About Timetric7.4. DisclaimerList of TablesTable 1: Insurance Industry DefinitionsTable 2: Thai Insurance Overall Written Premium by Segment (THB Billion), 2007–2011Table 3: Thai Insurance Overall Written Premium by Segment (US$ Billion), 2007–2011Table 4: Thai Insurance Overall Written Premium by Segment (THB Billion), 2011–2016
  • 4. Table 5: Thai Insurance Overall Written Premium by Segment (US$ Billion), 2011–2016Table 6: Thai Insurance Segmentation (% Share), 2007–2016Table 7: Thai Life Insurance Written Premium by Category (THB Billion), 2007–2011Table 8: Thai Life Insurance Written Premium by Category (US$ Billion), 2007–2011Table 9: Thai Life Insurance Written Premium by Category (THB Billion), 2011–2016Table 10: Thai Life Insurance Written Premium by Category (US$ Billion), 2011–2016Table 11: Thai Life Insurance – Paid Claims (THB Billion), 2007–2011Table 12: Thai Life Insurance – Paid Claims (THB Billion), 2011–2016Table 13: Thai Life Insurance – Incurred Loss (THB Billion), 2007–2011Table 14: Thai Life Insurance – Incurred Loss (THB Billion), 2011–2016Table 15: Thai Life Insurance – Loss Ratio (%), 2007–2011Table 16: Thai Life Insurance – Loss Ratio (%), 2011–2016Table 17: Thai Life Insurance – Combined Ratio (%), 2007–2011Table 18: Thai Life Insurance – Combined Ratio (%), 2011–2016Table 19: Thai Life Insurance – Total Assets (THB Billion), 2007–2011Table 20: Thai Life Insurance – Total Assets (THB Billion), 2011–2016Table 21: Thai Life Insurance – Total Investment Income (THB Billion), 2007–2011Table 22: Thai Life Insurance – Total Investment Income (THB Billion), 2011–2016Table 23: Thai Life Insurance – Total Retentions (THB Billion), 2007–2011Table 24: Thai Life Insurance – Total Retentions (THB Billion), 2011–2016Table 25: Thai Life Insurance – Investments (THB Billion), 2007–2011Table 26: Thai Individual Life Insurance Category – Written Premium (THB Billion), 2007–2011Table 27: Thai Individual Life Insurance Category – Written Premium (THB Billion), 2011–2016Table 28: Thai Others Insurance Category – Written Premium (THB Billion), 2007–2011Table 29: Thai Others Insurance Category – Written Premium (THB Billion), 2011–2016Table 30: Thai Group Life Insurance Category – Written Premium (THB Billion), 2007–2011Table 31: Thai Group Life Insurance Category – Written Premium (THB Billion), 2011–2016Table 32: Thai Non-Life Insurance Written Premium by Category (THB Billion), 2007–2011Table 33: Thai Non-Life Insurance Written Premium by Category (US$ Billion), 2007–2011Table 34: Thai Non-Life Insurance Written Premium by Category (THB Billion), 2011–2016Table 35: Thai Non-Life Insurance Written Premium by Category (US$ Billion), 2011–2016Table 36: Thai Non-Life Insurance – Paid Claims (THB Billion), 2007–2011Table 37: Thai Non-Life Insurance – Paid Claims (THB Billion), 2011–2016Table 38: Thai Non-Life Insurance – Incurred Loss (THB Billion), 2007–2011Table 39: Thai Non-Life Insurance – Incurred Loss (THB Billion), 2011–2016Table 40: Thai Non-Life Insurance – Loss Ratio (%), 2007–2011Table 41: Thai Non-Life Insurance – Loss Ratio (%), 2011–2016Table 42: Thai Non-Life Insurance – Combined Ratio (%), 2007–2011Table 43: Thai Non-Life Insurance – Combined Ratio (%), 2011–2016Table 44: Thai Non-Life Insurance – Total Assets (THB Billion), 2007–2011Table 45: Thai Non-Life Insurance – Total Assets (THB Billion), 2011–2016Table 46: Thai Non-Life Insurance – Total Investment Income (THB Billion), 2007–2011
  • 5. Table 47: Thai Non-Life Insurance – Total Investment Income (THB Billion), 2011–2016Table 48: Thai Non-Life Insurance – Retentions (THB Billion), 2007–2011Table 49: Thai Non-Life Insurance – Retentions (THB Billion), 2011–2016Table 50: Thai Property Insurance Category – Written Premium (US$ Billion), 2007–2011Table 51: Thai Property Insurance Category – Written Premium (THB Billion), 2011–2016Table 52: Thai Motor Insurance Category – Written Premium (THB Billion), 2007–2011Table 53: Thai Motor Insurance Category – Written Premium (THB Billion), 2011–2016Table 54: Thai Liability Insurance Category – Written Premium (THB Billion), 2007–2011Table 55: Thai Liability Insurance Category – Written Premium (THB Billion), 2011–2016Table 56: Thai Marine, Aviation and Transit Insurance Category – Written Premium (THB Billion),2007–2011Table 57: Thai Marine, Aviation and Transit Insurance Category – Written Premium (THB Billion),2011–2016Table 58: Thai Personal Accident and Health Insurance Written Premium by Category (THBBillion), 2007–2011Table 59: Thai Personal Accident and Health Insurance Written Premium by Category (US$Million), 2007–2011Table 60: Thai Personal Accident and Health Insurance Written Premium by Category (THBBillion), 2011–2016Table 61: Thai Personal Accident and Health Insurance Written Premium by Category (US$Million), 2011–2016Table 62: Thai Personal Accident and Health Insurance Market – Paid Claims (THB Billion),2007–2011Table 63: Thai Personal Accident and Health Insurance – Paid Claims (THB Billion), 2011–2016Table 64: Thai Personal Accident and Health Insurance – Incurred Loss (THB Billion), 2007–2011Table 65: Thai Personal Accident and Health Insurance – Incurred Loss (THB Billion), 2011–2016Table 66: Thai Personal Accident and Health Insurance – Loss Ratio (%), 2007–2011Table 67: Thai Personal Accident and Health Insurance – Loss Ratio (%), 2011–2016Table 68: Thai Personal Accident and Health Insurance – Combined Ratio (%), 2007–2011Table 69: Thai Personal Accident and Health Insurance – Combined Ratio (%), 2011–2016Table 70: Thai Personal Accident and Health Insurance – Total Assets (THB Billion), 2007–2011Table 71: Thai Personal Accident and Health Insurance – Total Assets (THB Billion), 2011–2016Table 72: Thai Personal Accident and Health Insurance – Total Investment Income (THB Billion),2007–2011Table 73: Thai Personal Accident and Health Insurance – Total Investment Income (THB Billion),2011–2016Table 74: Thai Personal Accident and Health Insurance – Retentions (THB Billion), 2007–2011Table 75: Thai Personal Accident and Health Insurance – Retentions (THB Billion), 2011–2016Table 76: Thai Personal Accident Insurance Category – Written Premium (THB Billion),2007–2011Table 77: Thai Personal Accident Insurance Category – Written Premium (THB Billion),2011–2016
  • 6. Table 78: Thai Health Insurance Category – Written Premium (THB Billion), 2007–2011Table 79: Thai Health Insurance Category – Written Premium (THB Billion), 2011–2016Table 80: Reinsurance Ceded by Insurance Market in Thailand (THB Billion), 2007–2011Table 81: Reinsurance Ceded by Insurance Market in Thailand (US$ Billion), 2007–2011Table 82: Reinsurance Ceded by Insurance Market in Thailand (THB Billion), 2011–2016Table 83: Reinsurance Ceded by Insurance Market in Thailand (US$ Billion), 2011–2016Table 84: Thai Life Insurance – Percentage of Reinsurance Ceded (%), 2007–2011Table 85: Thai Life Insurance – Percentage of Reinsurance Ceded (%), 2011–2016Table 86: Thai Non-Life Insurance – Percentage of Reinsurance Ceded (%), 2007–2011Table 87: Thai Non-Life Insurance – Percentage of Reinsurance Ceded (%), 2011–2016Table 88: Thai Personal Accident and Health Insurance – Percentage of Reinsurance Ceded (%),2007–2011Table 89: Thai Personal Accident and Health Insurance – Percentage of Reinsurance Ceded (%),2011–2016Table 90: Thai Insurance Industry – Market Shares, 2010Table 91: AIA Insurance Thailand, Main ProductsTable 92: AIA Insurance Thailand, Key EmployeesTable 93: The Navakij Insurance Public Company, Main ProductsTable 94: The Navakij Insurance Public Company, Key EmployeesTable 95: AXA Insurance Public, Main ProductsTable 96: AXA Insurance Public, Key EmployeesTable 97: Ayudhya Allianz C.P. Life Public Company Limited, Main ProductsTable 98: Ayudhya Allianz C.P. Life Public Company Limited, Key EmployeesTable 99: QBE Insurance, Main ProductsTable 100: QBE Insurance, Key EmployeesTable 101: Allianz Global Assistance Thailand, Main ProductsTable 102: Allianz Global Assistance Thailand, Key EmployeesTable 103: Premier International Healthcare Ltd, Main ProductsTable 104: Thai Life Insurance Co., Ltd, Main ProductsTable 105: Thai Life Insurance Co., Ltd, Key EmployeesList of FiguresFigure 1: Thai Insurance Overall Written Premium by Segment (THB Billion), 2007–2016Figure 2: Thai Insurance Market Dynamics by Segment, 2007–2016Figure 3: Thai Life Insurance Written Premium by Category (THB Billion), 2007–2016Figure 4: Thai Life Insurance Written Premium by Category (% Share), 2011 and 2016Figure 5: Thai Life Insurance Market Dynamics by Category, 2007–2016Figure 6: Thai Life Insurance – Paid Claims (THB Billion), 2007–2011Figure 7: Thai Life Insurance – Paid Claims (THB Billion), 2011–2016Figure 8: Thai Life Insurance – Incurred Loss (THB Billion), 2007–2011Figure 9: Thai Life Insurance – Incurred Loss (THB Billion), 2011–2016Figure 10: Thai Life Insurance – Loss Ratio (%), 2007–2011Figure 11: Thai Life Insurance – Loss Ratio (%), 2011–2016
  • 7. Figure 12: Thai Life Insurance – Combined Ratio (%), 2007–2011Figure 13: Thai Life Insurance – Combined Ratio (%), 2011–2016Figure 14: Thai Life Insurance – Total Assets (THB Billion), 2007–2011Figure 15: Thai Life Insurance – Total Assets (THB Billion), 2011–2016Figure 16: Thai Life Insurance – Total Investment Income (THB Billion), 2007–2011Figure 17: Thai Life Insurance – Total Investment Income (THB Billion), 2011–2016Figure 18: Thai Life Insurance – Total Retentions (THB Billion), 2007–2011Figure 19: Thai Life Insurance – Total Retentions (THB Billion), 2011–2016Figure 20: Thai Life Insurance – Investments (THB Billion), 2007–2011Figure 21: Thai Life Insurance Penetration (% of GDP), 2007–2011Figure 22: Thai Life Insurance – Premium Per-capita (THB), 2007–2011Figure 23: Thai Individual Life Insurance Category – Written Premium (THB Billion), 2007–2011Figure 24: Thai Individual Life Insurance Category – Written Premium (THB Billion), 2011–2016Figure 25: Thai Others Insurance Category – Written Premium (THB Billion), 2007–2011Figure 26: Thai Others Insurance Category – Written Premium (THB Billion), 2011–2016Figure 27: Thai Group Life Insurance Category – Written Premium (THB Billion), 2007–2011Figure 28: Thai Group Life Insurance Category – Written Premium (THB Billion), 2011–2016Figure 29: Thai Non-Life Insurance Written Premium by Category (THB Billion), 2007–2016Figure 30: Thai Non-Life Insurance Written Premium by Category (% Share), 2011 and 2016Figure 31: Thai Non-Life Insurance Market Dynamics by Category, 2007–2016Figure 32: Thai Non-Life Insurance – Paid Claims by Category (THB Billion), 2007–2011Figure 33: Thai Non-Life Insurance – Paid Claims (THB Billion), 2011–2016Figure 34: Thai Non-Life Insurance – Incurred Loss (THB Billion), 2007–2011Figure 35: Thai Non-Life Insurance – Incurred Loss by Category (THB Billion), 2011–2016Figure 36: Thai Non-Life Insurance – Loss Ratio (%), 2007–2011Figure 37: Thai Non-Life Insurance – Loss Ratio (%), 2011–2016Figure 38: Thai Non-Life Insurance – Combined Ratio (%), 2007–2011Figure 39: Thai Non-Life Insurance – Combined Ratio (%), 2011–2016Figure 40: Thai Non-Life Insurance – Total Assets (THB Billion), 2007–2011Figure 41: Thai Non-Life Insurance – Total Assets (THB Billion), 2011–2016Figure 42: Thai Non-Life Insurance – Total Investment Income (THB Billion), 2007–2011Figure 43: Thai Non-Life Insurance – Total Investment Income (THB Billion), 2011–2016Figure 44: Thai Non-Life Insurance – Retentions (THB Billion), 2007–2011Figure 45: Thai Non-Life Insurance – Retentions (US$ Billion), 2011–2016Figure 46: Thai Non-Life Insurance – Investment (THB Billion), 2007–2011Figure 47: Thai Non-Life Insurance Penetration (% of GDP), 2007–2011Figure 48: Thai Non-Life Insurance – Premium Per-capita (THB), 2007–2011Figure 49: Thai Property Insurance Category – Written Premium (US$ Billion), 2007–2011Figure 50: Thai Property Insurance Category – Written Premium (THB Billion), 2011–2016Figure 51: Thai Motor Insurance Category – Written Premium (THB Billion), 2007–2011Figure 52: Thai Motor Insurance Category – Written Premium (THB Billion), 2011–2016Figure 53: Thai Liability Insurance Category – Written Premium (THB Billion), 2007–2011
  • 8. Figure 54: Thai Liability Insurance Category – Written Premium (THB Billion), 2011–2016Figure 55: Thai Marine, Aviation and Transit Insurance Category – Written Premium (THB Billion),2007–2011Figure 56: Thai Marine, Aviation and Transit Insurance Category – Written Premium (THB Billion),2011–2016Figure 57: Thai Personal Accident and Health Insurance Written Premium by Category (THBBillion), 2007–2016Figure 58: Thai Personal Accident and Health Insurance Written Premium by Category (% Share),2011 and 2016Figure 59: Thai Personal Accident and Health Insurance Market Dynamics by Category,2007–2016Figure 60: Thai Personal Accident and Health Insurance – Paid Claims by Category (THB Billion),2007–2011Figure 61: Thai Personal Accident and Health Insurance – Paid Claims (THB Billion), 2011–2016Figure 62: Thai Personal Accident and Health Insurance – Incurred Loss (THB Billion), 2007–2011Figure 63: Thai Personal Accident and Health Insurance – Incurred Loss by Category (THBBillion), 2011–2016Figure 64: Thai Personal Accident and Health Insurance – Loss Ratio (%), 2007–2011Figure 65: Thai Personal Accident and Health Insurance – Loss Ratio (%), 2011–2016Figure 66: Thai Personal Accident and Health Insurance – Combined Ratio (%), 2007–2011Figure 67: Thai Personal Accident and Health Insurance – Combined Ratio (%), 2011–2016Figure 68: Thai Personal Accident and Health Insurance – Total Assets (THB Billion), 2007–2011Figure 69: Thai Personal Accident and Health Insurance – Total Assets (THB Billion), 2011–2016Figure 70: Thai Personal Accident and Health Insurance – Total Investment Income (THB Billion),2007–2011Figure 71: Thai Personal Accident and Health Insurance – Total Investment Income (THB Billion),2011–2016Figure 72: Thai Personal Accident and Health Insurance – Retentions (THB Billion), 2007–2011Figure 73: Thai Personal Accident and Health Insurance – Retentions (THB Billion), 2011–2016Figure 74: Thai Personal Accident and Health Insurance – Investments (THB Billion), 2007–2011Figure 75: Thai Personal Accident and Health Insurance Penetration (% of GDP), 2007–2011Figure 76: Thai Personal Accident and Health Insurance – Premium Per-capita (THB), 2007–2011Figure 77: Thai Personal Accident Insurance Category – Written Premium (THB Billion),2007–2011Figure 78: Thai Personal Accident Insurance Category – Written Premium (THB Billion),2011–2016Figure 79: Thai Health Insurance Category – Written Premium (THB Billion), 2007–2011Figure 80: Thai Health Insurance Category – Written Premium (THB Billion), 2011–2016Figure 81: Reinsurance Ceded by Insurance Market in Thailand (THB Billion), 2007–2016Figure 82: Reinsurance Market Dynamics by Insurance Market in Thailand, 2007–2016Figure 83: Thai Life Insurance – Percentage of Reinsurance Ceded (%), 2007–2011Figure 84: Thai Life Insurance – Percentage of Reinsurance Ceded (%), 2011–2016
  • 9. Figure 85: Thai Non-Life Insurance – Percentage of Reinsurance Ceded (%), 2007–2011Figure 86: Thai Non-Life Insurance – Percentage of Reinsurance Ceded (%), 2011–2016Figure 87: Thai Personal Accident and Health Insurance – Percentage of Reinsurance Ceded (%),2007–2011Figure 88: Thai Personal Accident and Health Insurance – Percentage of Reinsurance Ceded (%),2011–2016Figure 89: Thai Insurance Industry – Market Shares, 2010Figure 90: Thai GDP at Constant Prices (US$ Billion), 2007–2011Figure 91: Thai GDP Per-capita at Constant Prices (US$), 2007–2011Figure 92: Thai GDP at Current Prices (US$ Billion), 2007–2011Figure 93: Thai Construction Net Output at Current Prices (US$ Billion), 2007–2011Figure 94: Thai Construction Output at Current Prices as a Percentage of GDP (%), 2007–2011Figure 95: Thai Arable Land (Hectares), 2007–2011Figure 96: Thai Exports as a Percentage of GDP (%), 2007–2011Figure 97: Thai Number of Air Passengers (Million), 2007–2011Figure 98: Thai Healthcare Expenditure Per-Capita (US$), 2007–2011Figure 99: Thai Employed Population (%), 2007–2011Figure 100: Thai Annual Disposable Income (US$ Billion), 2007–2011Figure 101: Thai Annual Disposable Income Per Capita (US$), 2007–2011Figure 102: Thai Total Population (Million), 2007–2011Contact: sales@reportsandreports.com for more information.