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Non-Life Insurance in Thailand, Key Trends and Opportunities to 2018
Synopsis
Timetric’s 'Non-Life Insurance in the Thailand, Key Trends and Opportunities to 2018' report provides in-depth market analysis, information and insights
into the Thai non-life insurance segment, including:
The Thai non-life insurance segment’s growth prospects by non-life insurance category Key trends, drivers and challenges for the non-life insurance
segment The various distribution channels in the Thai non-life insurance segment The detailed competitive landscape in the non-life insurance segment in
Thailand Detailed regulatory policies of the Thai insurance industry Analysis of various consumer segments in Thai non-life insurance New product launches of
the leading non-life insurers Key developments of the leading non-life insurers
Executive summary
Timetric’s 'Non-Life Insurance in the Thailand, Key Trends and Opportunities to 2018' report provides detailed analysis of the market trends, drivers,
challenges in the Thai non-life insurance segment. It provides Key Performance Indicators (KPI) such as written premium, incurred loss, loss ratio, commissions
and expenses, combined ratio, frauds and crimes, total assets, total investment income and retentions during the review period (2009–2013) and forecast
period (2013–2018). The report also analyzes distribution channels operating in the segment, and provides detailed information on the competitive
landscape in the country. The report brings together Timetric’s research, modeling and analysis expertise, giving insurers access to information on
segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and
recent changes in regulatory structure.
Scope
This report provides a comprehensive analysis of the non-life insurance segment in Thailand:
It provides historical values for Thailand’s non-life insurance segment for the report’s 2009–2013 review period, and projected figures for
the 2013–2018 forecast period. It offers a detailed analysis of the key categories in Thailand’s non-life insurance segment, along with market
forecasts until 2018. 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 analyses the various distribution channels for non-life insurance products in Thailand. It
profiles the top non-life insurance companies in Thailand and outlines the key regulations affecting them.
Reasons to buy
Make strategic business decisions using in-depth historic and forecast market data related to the Thai non-life insurance segment and each category within it.
Understand the demand-side dynamics, key market trends and growth opportunities in the Thai non-life insurance segment. Assess the competitive dynamics in
the non-life insurance segment. Identify the growth opportunities and market dynamics in key product categories. Gain insights into key regulations governing
the Thai insurance industry and their impact on companies and the industry's future.
Key highlights
Thailand’s non-life segment registered a review-period CAGR of 15.0% in terms of gross written premium. Rising vehicle sales and mandatory motor
third-party insurance supported the growth of motor insurance during the review period. The Thai non-life insurance segment is moderately concentrated, with
the 10 leading companies together accounting for 63.4% of the segment’s direct written premium in 2013. Expansions in product portfolios and programs
were carried out by most non-life insurers during the review period, to increase consumer awareness and market share. According to Sophos’s 2013
Security Threat report, along with Indonesia and China, Thailand is one of the world’s three riskiest countries in terms of cybercrime. Frequent natural
disasters in Thailand challenge the growth of non-life insurance. The country registered a number of natural disasters during the review period, including heavy
floods and thunderstorms in 2013, followed by earthquakes in 2014.
table Of Contents
1 Key Facts And Events
2 Executive Summary
3 Introduction
3.1 What Is This Report About?
3.2 Definitions
3.3 Methodology
4 Thai Insurance Industry Attractiveness
4.1 Insurance Industry Size, 2009–2018
5 Non-life Insurance Outlook
5.1 Consumer Segmentation
5.2 Key Drivers
5.3 Key Trends
5.4 Challenges
5.5 Non-life Insurance Growth Prospects By Category
5.6 Property Insurance
5.6.1 Fire And Allied Perils Insurance
5.6.2 Engineering Insurance
Non-Life Insurance in Thailand, Key Trends and Opportunities to 2018
5.6.3 Agriculture Insurance
5.6.4 Other Property Insurance
5.7 Motor Insurance
5.7.1 Motor Hull Insurance
5.7.2 Motor Third-party Insurance
5.8 Liability Insurance
5.9 Marine, Aviation And Transit Insurance
5.9.1 Marine Insurance
5.9.2 Aviation Insurance
5.9.3 Transit Insurance
6 Analysis By Distribution Channel
6.1 Direct Marketing
6.2 Bancassurance
6.3 Agencies
6.4 E-commerce
6.5 Brokers
6.6 Other Channels
7 Governance, Risk And Compliance
7.1 Legislation Overview And Historical Evolution
7.2 Latest Changes In Regulations
7.3 Legislation And Market Practice By Type Of Insurance
7.3.1 Life Insurance
7.3.2 Property Insurance
7.3.3 Motor Insurance
7.3.4 Liability Insurance
7.3.5 Marine, Aviation And Transit Insurance
7.3.6 Personal Accident And Health Insurance
7.4 Compulsory Insurance
7.4.1 Motor Third-party Liability Insurance
7.4.2 Workmen’s Compensation Insurance
7.5 Supervision And Control
7.5.1 International Association Of Insurance Supervisors
7.5.2 Office Of Insurance Commission
7.6 Non-admitted Insurance Regulations
7.6.1 Overview
7.6.2 Intermediaries
7.6.3 Market Practices
7.6.4 Fines And Penalties
7.7 Company Registration And Operations
7.7.1 Types Of Insurance Organization
7.7.2 Establishing A Local Company
7.7.3 Foreign Ownership
7.7.4 Types Of License
7.7.5 Capital Requirements
7.7.6 Solvency Margins
7.7.7 Reserve Requirements
7.7.8 Investment Regulations
7.7.9 Statutory Return Requirements
7.7.10 Fee Structure
7.8 Taxation
7.8.1 Insurance Premium Or Policy Taxation
7.8.2 Withholding Taxes On Premium Paid Overseas
7.8.3 Corporate Tax
7.8.4 Vat
7.8.5 Captives
7.9 Legal System
7.9.1 Introduction
7.9.2 Access To Court
7.9.3 Alternative Dispute Resolution (adr)
8 Competitive Landscape And Strategic Insights
8.1 Overview
8.2 Leading Companies In Thai Non-life Insurance Segment
Non-Life Insurance in Thailand, Key Trends and Opportunities to 2018
8.3 Comparison Of The Top Five Insurers
8.3.1 Direct Written Premium
8.4 Leading Non-life Insurers – New Product Launch
8.5 Leading Non-life Insurers – Key Developments
8.6 Viriyah Insurance Co. Ltd – Company Overview
8.6.1 Viriyah Insurance Co. Ltd – Key Facts
8.6.2 Viriyah Insurance Co. Ltd – Key Financials
8.7 Dhipaya Insurance Public Co. Ltd – Company Overview
8.7.1 Dhipaya Insurance Public Co. Ltd – Key Facts
8.7.2 Dhipaya Insurance Public Co. Ltd – Key Financials
8.8 Bangkok Insurance Public Co. Ltd – Company Overview
8.8.1 Bangkok Insurance Public Co. Ltd – Key Facts
8.8.2 Bangkok Insurance Public Co. Ltd – Key Financials
8.9 Syn Mun Kong Insurance Public Co. Ltd – Company Overview
8.9.1 Syn Mun Kong Insurance Public Co. Ltd – Key Facts
8.9.2 Syn Mun Kong Insurance Public Co. Ltd – Key Financials
8.10 The Safety Insurance Public Co. Ltd – Company Overview
8.10.1 The Safety Insurance Public Co. Ltd – Key Facts
8.10.2 The Safety Insurance Public Co. Ltd – Key Financials
8.11 Tokio Marine Sri Muang Insurance Co. Ltd – Company Overview
8.11.1 Tokio Marine Sri Muang Insurance Co. Ltd – Key Facts
8.11.2 Tokio Marine Sri Muang Insurance Co. Ltd – Key Financials
8.12 Muang Thai Insurance Public Co. Ltd – Company Overview
8.12.1 Muang Thai Insurance Public Co. Ltd – Key Facts
8.12.2 Muang Thai Insurance Public Co. Ltd – Key Financials
8.13 Lmg Insurance Co. Ltd – Company Overview
8.13.1 Lmg Insurance Co. Ltd – Key Facts
8.13.2 Lmg Insurance Co. Ltd – Key Financials
8.14 Mitsui Sumitomo Insurance Co. Ltd (thailand) – Company Overview
8.14.1 Mitsui Sumitomo Insurance Co. Ltd (thailand) – Key Facts
8.15 Thanachart Insurance Co. Ltd – Company Overview
8.15.1 Thanachart Insurance Co. Ltd – Key Facts
8.15.2 Thanachart Insurance Co. Ltd – Key Financials
9 Appendix – 1
9.1 Economic Performance
9.1.1 Gdp At Constant Prices (us$)
9.1.2 Gdp Per Capita At Constant Prices (us$)
9.1.3 Gdp At Current Prices (us$)
9.1.4 Gdp Per Capita At Current Prices (us$)
9.1.5 Gdp By Key Segments
9.1.6 Agriculture, Hunting, Forestry And Fishing Net Output At Current Prices (us$)
9.1.7 Agriculture, Hunting, Forestry And Fishing Net Output At Current Prices As A Percentage Of Gdp
9.1.8 Manufacturing Net Output At Current Prices (us$)
9.1.9 Manufacturing Net Output At Current Prices As A Percentage Of Gdp
9.1.10 Mining, Manufacturing And Utilities At Current Prices (us$)
9.1.11 Mining, Manufacturing And Utilities At Current Prices, As Percentage Of Gdp
9.1.12 Construction Net Output At Current Prices, (us$)
9.1.13 Construction Net Output At Current Prices As A Percentage Of Gdp
9.1.14 Inflation Rate
9.1.15 Exports As A Percentage Of Gdp
9.1.16 Imports As A Percentage Of Gdp
9.1.17 Merchandise Exports Growth
9.1.18 Merchandise Imports Growth
9.1.19 Annual Average Exchange Rate Thb–us$
9.2 Infrastructure
9.2.1 Total Internet Subscribers
9.3 Labor Force
9.3.1 Labor Force
9.3.2 Unemployment Rate
9.4 Demographics
9.4.1 Household Consumption Expenditure (us$)
9.4.2 Total Population
9.4.3 Urban And Rural Populations
9.4.4 Age Distribution Of The Total Population
9.4.5 Life Expectancy
Non-Life Insurance in Thailand, Key Trends and Opportunities to 2018
10 Appendix – 2
10.1 Methodology
10.2 Contact Timetric
10.3 About Timetric
10.4 Timetric’s Services
10.5 Disclaimer
ResearchMoz(http://www.researchmoz.us/) is the one stop online destination to find and buy market research reports & Industry Analysis. We fulfill all your
research needs spanning across industry verticals with our huge collection of market research reports. We provide our services to all sizes of organizations and
across all industry verticals and markets. Our Research Coordinators have in-depth knowledge of reports as well as publishers and will assist you in making an
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Non-Life Insurance in Thailand, Key Trends and Opportunities to 2018

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Non life insurance in thailand, key trends and opportunities to 2018

  • 1. Non-Life Insurance in Thailand, Key Trends and Opportunities to 2018 Synopsis Timetric’s 'Non-Life Insurance in the Thailand, Key Trends and Opportunities to 2018' report provides in-depth market analysis, information and insights into the Thai non-life insurance segment, including: The Thai non-life insurance segment’s growth prospects by non-life insurance category Key trends, drivers and challenges for the non-life insurance segment The various distribution channels in the Thai non-life insurance segment The detailed competitive landscape in the non-life insurance segment in Thailand Detailed regulatory policies of the Thai insurance industry Analysis of various consumer segments in Thai non-life insurance New product launches of the leading non-life insurers Key developments of the leading non-life insurers Executive summary Timetric’s 'Non-Life Insurance in the Thailand, Key Trends and Opportunities to 2018' report provides detailed analysis of the market trends, drivers, challenges in the Thai non-life insurance segment. It provides Key Performance Indicators (KPI) such as written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, frauds and crimes, total assets, total investment income and retentions during the review period (2009–2013) and forecast period (2013–2018). The report also analyzes distribution channels operating in the segment, and provides detailed information on the competitive landscape in the country. The report brings together Timetric’s research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in regulatory structure. Scope This report provides a comprehensive analysis of the non-life insurance segment in Thailand: It provides historical values for Thailand’s non-life insurance segment for the report’s 2009–2013 review period, and projected figures for the 2013–2018 forecast period. It offers a detailed analysis of the key categories in Thailand’s non-life insurance segment, along with market forecasts until 2018. 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 analyses the various distribution channels for non-life insurance products in Thailand. It profiles the top non-life insurance companies in Thailand and outlines the key regulations affecting them. Reasons to buy Make strategic business decisions using in-depth historic and forecast market data related to the Thai non-life insurance segment and each category within it. Understand the demand-side dynamics, key market trends and growth opportunities in the Thai non-life insurance segment. Assess the competitive dynamics in the non-life insurance segment. Identify the growth opportunities and market dynamics in key product categories. Gain insights into key regulations governing the Thai insurance industry and their impact on companies and the industry's future. Key highlights Thailand’s non-life segment registered a review-period CAGR of 15.0% in terms of gross written premium. Rising vehicle sales and mandatory motor third-party insurance supported the growth of motor insurance during the review period. The Thai non-life insurance segment is moderately concentrated, with the 10 leading companies together accounting for 63.4% of the segment’s direct written premium in 2013. Expansions in product portfolios and programs were carried out by most non-life insurers during the review period, to increase consumer awareness and market share. According to Sophos’s 2013 Security Threat report, along with Indonesia and China, Thailand is one of the world’s three riskiest countries in terms of cybercrime. Frequent natural disasters in Thailand challenge the growth of non-life insurance. The country registered a number of natural disasters during the review period, including heavy floods and thunderstorms in 2013, followed by earthquakes in 2014. table Of Contents 1 Key Facts And Events 2 Executive Summary 3 Introduction 3.1 What Is This Report About? 3.2 Definitions 3.3 Methodology 4 Thai Insurance Industry Attractiveness 4.1 Insurance Industry Size, 2009–2018 5 Non-life Insurance Outlook 5.1 Consumer Segmentation 5.2 Key Drivers 5.3 Key Trends 5.4 Challenges 5.5 Non-life Insurance Growth Prospects By Category 5.6 Property Insurance 5.6.1 Fire And Allied Perils Insurance 5.6.2 Engineering Insurance Non-Life Insurance in Thailand, Key Trends and Opportunities to 2018
  • 2. 5.6.3 Agriculture Insurance 5.6.4 Other Property Insurance 5.7 Motor Insurance 5.7.1 Motor Hull Insurance 5.7.2 Motor Third-party Insurance 5.8 Liability Insurance 5.9 Marine, Aviation And Transit Insurance 5.9.1 Marine Insurance 5.9.2 Aviation Insurance 5.9.3 Transit Insurance 6 Analysis By Distribution Channel 6.1 Direct Marketing 6.2 Bancassurance 6.3 Agencies 6.4 E-commerce 6.5 Brokers 6.6 Other Channels 7 Governance, Risk And Compliance 7.1 Legislation Overview And Historical Evolution 7.2 Latest Changes In Regulations 7.3 Legislation And Market Practice By Type Of Insurance 7.3.1 Life Insurance 7.3.2 Property Insurance 7.3.3 Motor Insurance 7.3.4 Liability Insurance 7.3.5 Marine, Aviation And Transit Insurance 7.3.6 Personal Accident And Health Insurance 7.4 Compulsory Insurance 7.4.1 Motor Third-party Liability Insurance 7.4.2 Workmen’s Compensation Insurance 7.5 Supervision And Control 7.5.1 International Association Of Insurance Supervisors 7.5.2 Office Of Insurance Commission 7.6 Non-admitted Insurance Regulations 7.6.1 Overview 7.6.2 Intermediaries 7.6.3 Market Practices 7.6.4 Fines And Penalties 7.7 Company Registration And Operations 7.7.1 Types Of Insurance Organization 7.7.2 Establishing A Local Company 7.7.3 Foreign Ownership 7.7.4 Types Of License 7.7.5 Capital Requirements 7.7.6 Solvency Margins 7.7.7 Reserve Requirements 7.7.8 Investment Regulations 7.7.9 Statutory Return Requirements 7.7.10 Fee Structure 7.8 Taxation 7.8.1 Insurance Premium Or Policy Taxation 7.8.2 Withholding Taxes On Premium Paid Overseas 7.8.3 Corporate Tax 7.8.4 Vat 7.8.5 Captives 7.9 Legal System 7.9.1 Introduction 7.9.2 Access To Court 7.9.3 Alternative Dispute Resolution (adr) 8 Competitive Landscape And Strategic Insights 8.1 Overview 8.2 Leading Companies In Thai Non-life Insurance Segment Non-Life Insurance in Thailand, Key Trends and Opportunities to 2018
  • 3. 8.3 Comparison Of The Top Five Insurers 8.3.1 Direct Written Premium 8.4 Leading Non-life Insurers – New Product Launch 8.5 Leading Non-life Insurers – Key Developments 8.6 Viriyah Insurance Co. Ltd – Company Overview 8.6.1 Viriyah Insurance Co. Ltd – Key Facts 8.6.2 Viriyah Insurance Co. Ltd – Key Financials 8.7 Dhipaya Insurance Public Co. Ltd – Company Overview 8.7.1 Dhipaya Insurance Public Co. Ltd – Key Facts 8.7.2 Dhipaya Insurance Public Co. Ltd – Key Financials 8.8 Bangkok Insurance Public Co. Ltd – Company Overview 8.8.1 Bangkok Insurance Public Co. Ltd – Key Facts 8.8.2 Bangkok Insurance Public Co. Ltd – Key Financials 8.9 Syn Mun Kong Insurance Public Co. Ltd – Company Overview 8.9.1 Syn Mun Kong Insurance Public Co. Ltd – Key Facts 8.9.2 Syn Mun Kong Insurance Public Co. Ltd – Key Financials 8.10 The Safety Insurance Public Co. Ltd – Company Overview 8.10.1 The Safety Insurance Public Co. Ltd – Key Facts 8.10.2 The Safety Insurance Public Co. Ltd – Key Financials 8.11 Tokio Marine Sri Muang Insurance Co. Ltd – Company Overview 8.11.1 Tokio Marine Sri Muang Insurance Co. Ltd – Key Facts 8.11.2 Tokio Marine Sri Muang Insurance Co. Ltd – Key Financials 8.12 Muang Thai Insurance Public Co. Ltd – Company Overview 8.12.1 Muang Thai Insurance Public Co. Ltd – Key Facts 8.12.2 Muang Thai Insurance Public Co. Ltd – Key Financials 8.13 Lmg Insurance Co. Ltd – Company Overview 8.13.1 Lmg Insurance Co. Ltd – Key Facts 8.13.2 Lmg Insurance Co. Ltd – Key Financials 8.14 Mitsui Sumitomo Insurance Co. Ltd (thailand) – Company Overview 8.14.1 Mitsui Sumitomo Insurance Co. Ltd (thailand) – Key Facts 8.15 Thanachart Insurance Co. Ltd – Company Overview 8.15.1 Thanachart Insurance Co. Ltd – Key Facts 8.15.2 Thanachart Insurance Co. Ltd – Key Financials 9 Appendix – 1 9.1 Economic Performance 9.1.1 Gdp At Constant Prices (us$) 9.1.2 Gdp Per Capita At Constant Prices (us$) 9.1.3 Gdp At Current Prices (us$) 9.1.4 Gdp Per Capita At Current Prices (us$) 9.1.5 Gdp By Key Segments 9.1.6 Agriculture, Hunting, Forestry And Fishing Net Output At Current Prices (us$) 9.1.7 Agriculture, Hunting, Forestry And Fishing Net Output At Current Prices As A Percentage Of Gdp 9.1.8 Manufacturing Net Output At Current Prices (us$) 9.1.9 Manufacturing Net Output At Current Prices As A Percentage Of Gdp 9.1.10 Mining, Manufacturing And Utilities At Current Prices (us$) 9.1.11 Mining, Manufacturing And Utilities At Current Prices, As Percentage Of Gdp 9.1.12 Construction Net Output At Current Prices, (us$) 9.1.13 Construction Net Output At Current Prices As A Percentage Of Gdp 9.1.14 Inflation Rate 9.1.15 Exports As A Percentage Of Gdp 9.1.16 Imports As A Percentage Of Gdp 9.1.17 Merchandise Exports Growth 9.1.18 Merchandise Imports Growth 9.1.19 Annual Average Exchange Rate Thb–us$ 9.2 Infrastructure 9.2.1 Total Internet Subscribers 9.3 Labor Force 9.3.1 Labor Force 9.3.2 Unemployment Rate 9.4 Demographics 9.4.1 Household Consumption Expenditure (us$) 9.4.2 Total Population 9.4.3 Urban And Rural Populations 9.4.4 Age Distribution Of The Total Population 9.4.5 Life Expectancy Non-Life Insurance in Thailand, Key Trends and Opportunities to 2018
  • 4. 10 Appendix – 2 10.1 Methodology 10.2 Contact Timetric 10.3 About Timetric 10.4 Timetric’s Services 10.5 Disclaimer ResearchMoz(http://www.researchmoz.us/) is the one stop online destination to find and buy market research reports & Industry Analysis. We fulfill all your research needs spanning across industry verticals with our huge collection of market research reports. We provide our services to all sizes of organizations and across all industry verticals and markets. Our Research Coordinators have in-depth knowledge of reports as well as publishers and will assist you in making an informed decision by giving you unbiased and deep insights on which reports will satisfy your needs at the best price. Contact: Sales Team, 90 State Street, Suite 700, Albany NY - 12207 United States Tel: +1-518-618-1030 USA - Canada Toll Free 866-997-4948 Email: sales@researchmoz.us Website: http://www.researchmoz.us/ Non-Life Insurance in Thailand, Key Trends and Opportunities to 2018