"Thailand Insurance Report Q4 2014" now available at Fast Market Research

From: Fast Market Research, Inc.
Published: Fri Oct 17 2014

Strong growth has continued across the Thai insurance industry, with both the life and non-life sectors expanding by over 9% in 2013. 2014, however, is likely to see slower growth of approximately 4% in both markets. The non-life segment is underdeveloped, with per capita premiums unlikely to break USD100 in 2014, the majority of which is contributed by the automobile insurance line. Motor insurance remains our pick for strong growth, although health insurance is also set to grow at over 10% from 2014.

Full Report Details at
- http://www.fastmr.com/prod/888192_thailand_insurance_report_q4_2014.aspx?afid=301

The life sector is far larger than non-life in Thailand, with premiums totalling USD13.7bn in 2013, compared with just USD6.5bn in non-life. Within this, a small number of firms dominate, with the top 5 enjoying over 70% of premiums, led by AIA, with a 26% share. Growth in the sector will continue at rates of around 10% year-on-year (y-o-y) throughout the forecast period to 2018, by which time premiums will total over USD20bn, although any sustained political unrest risks significantly hampering this growth performance.

Non-life insurance has enjoyed continued growth across most lines in recent years, but 2014 will bring the weakest performance for some time as the sector grows by just 3.9%. Much of this will be contributed by the motor insurance line, already responsible for the majority of non-life premiums. As the dominant car insurer, Viriyah's position as market leader will therefore be consolidated. Health insurance appears to be the most promising growth market, with current leader BUPA and smaller players like Cigna poised to benefit from this growth.

Key BMI Forecasts:

* Total premiums to grow by just 4.4% to USD21.1bn in 2014.
* Life premiums to reach USD14.4bn in 2014 with growth of 4.6%, to USD210 per capita.
* Non-life premiums will continue to expand, but total only USD6.7bn in 2014.
* Motor insurance to continue to dominate, taking USD4.1bn in 2014, 61% of the non-life market.
* Growth prospects are good in health insurance which is...

The Thailand Insurance Report has been researched at source and features Business Monitor International (BMI)'s independent assessment and forecasts for the insurance sector. It examines industry developments, key growth drivers and risk management projections, including the macroeconomic situation, government policy, regulatory environment and the level of development and potential for growth, broken down by line. Leading insurers are profiled, covering premiums, products and services and competitive positioning.

BMI's Thailand Insurance Report provides professionals, consultancies, government departments, regulatory bodies and researchers with independent forecasts and regional competitive intelligence on the Thai insurance industry.

Key Benefits

About Fast Market Research

Fast Market Research is a leading distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff is always available to help you find the right research to fit your requirements and your budget.

For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.

You may also be interested in these related reports:

- South Africa Insurance Report Q4 2014
- Greece Insurance Report Q4 2014
- Philippines Insurance Report Q4 2014
- Mexico Insurance Report Q4 2014
- Indonesia Insurance Report Q4 2014

Company: Fast Market Research, Inc.
Contact Name: Bill Thompson
Contact Email: press@fastmr.com
Contact Phone: 1-413-485-7001

Visit website »