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Emerging Insurance Markets of Asia-Pacific

Global Industry Analysts
March 1, 2008
116 Pages - SKU: GJOB1783172

Abstract Table of Contents Related Reports

Countries covered: Asia

The Emerging Insurance Markets of Asia-Pacific Report provides insightful analysis, market briefs, industry structure and outlook of life and non-life insurance (including auto and property) industries in select countries of the region. The report provides a compilation and discussion on recent spate of mergers & acquisitions and other industry activities, which have irreversibly changed the landscape of the industry. The report also peeps into the recent past/ historical perspective of few country’s insurance markets and corporate developments within the industry. A regional level discussion also looks into the leading companies’ footing in these markets along with their annual written premiums and/ or market shares. Markets briefly abstracted and covered in the report include Bangladesh, Indonesia, Malaysia, Mauritius, Mongolia, New Zealand, Pakistan, Philippines, South Korea, Sri Lanka, Taiwan, Thailand, and Vietnam. The report discusses many key and niche players such as PT Asuransi Tokio Marine Indonesia, PT Panin Insurance, PT Tugu Pratama, Kyobo Life Insurance Co., Ltd., Samsung Life Insurance, Shinhan Bank, Baominh-CMG, and BaoViet.

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1. Bangladesh

Life Insurance Market

Table 1: Life Insurance Industry in Bangladesh (2003): Gross

Written Premium in US$ Million by Leading Companies for

American Life, National Life, Jiban Bima Corporation, Delta

Life, Meghna Life, Sandhani Life, Fareast Islami Life,

Homeland Life, Rupali Life, and Prageti Life (includes

corresponding Graph/Chart)

Homeland Launches BADHU BIMA Scheme for Married Women

Non-Life Insurance Market

Table 2: Non-Life Insurance Industry in Bangladesh (2003):

Gross Written Premium in US$ Million by Leading Companies for

Sadharan Bima, Corporation, Pragati, Reliance, Green Delta,

Prime, Peoples, Phoenix, Bangladesh General, Rupali, and

Karnaphuli (includes corresponding Graph/Chart)

2. Indonesia

Market Overview

Insurance Sector Representation

Table 3: Indonesian Recent Past, Current & Future Analysis

for Insurance Industry by Segment - Life and Non-Life Markets

Independently Analyzed with Annual Premium Income in US$

Million for the Years 2005 through 2009 (includes

corresponding Graph/Chart)

Table 4: Indonesian 5 -Year Perspective for Insurance

Industry by Segment - Percentage Breakdown of Premium Income

for Life and Non-Life Markets for 2005, 2007, and 2009

(includes corresponding Graph/Chart)

Highlights

Insurance Market Regulations

Indonesian Auto Insurance Market

Lack of Awareness and Poverty Hit Indonesian Health Insurance Market

Entry of Foreign Players

Indonesia Calls for Piracy Insurance

Importance of Technical Reserves

Market Leaders

Life Insurance

Table 5: Indonesian Life Insurance Industry (2003): Gross

Written Premium in US$ Million by Leading Companies for

Bumiputera 1912, AIG Lippo Life, Jiwasraya, Manulife

Indonesia, Prudential Life, Indolife Pensiontama, Jiwa

Sequis Life, AIA, Indonesia, Panin Life, and Bringin Jiwa

Sejahtera (includes corresponding Graph/Chart)

Non-Life Insurance

Indonesian General Insurance Sector - Set for Phenomenal Growth

Table 6: Indonesian Non-Life Insurance Industry (2003):

Gross Written Premium in US$ Million by Leading Companies

for Tugu Pratama, Jasa Indonesia, Central Asia, Astra

Buana, Sinar Mas, Wahana Tata, Allianz Utama, AIU

Indonesia, Mitsui Sumitomo, and Dayin Mitra (includes

corresponding Graph/Chart)

A Recent Past Perspective

Leading Insurance Companies

Table 7: Insurance Industry in Indonesia (2001): Number of

Insurance Companies by Type of Insurance for Life Insurance,

Loss-Insurance, Reinsurance and Others (includes

corresponding Graph/Chart)

Loss Insurance and Re-insurance Market

Table 8: Key Statistics of Indonesian Loss-Insurance and

Reinsurance Companies in Millions of Rupiahs: 1998-2000

(includes corresponding Graph/Chart)

Table 9: Leading Loss-Insurance Companies in Indonesia by

Surplus Underwriting in Millions of Rupiahs: 2000 (includes

corresponding Graph/Chart)

Table 10: Leading Loss-Insurance and Re-insurance Companies

in Indonesia by Assets in Millions of Rupiahs: 2000

(includes corresponding Graph/Chart)

Table 11: Insurance Gross Premiums in Indonesia by Segment

(in % Share): 2000 (includes corresponding Graph/Chart)

Structural Overview of Loss-Insurance Market

Focus on Select Indonesian Players

PT Asuransi Tokio Marine Indonesia

PT Panin Insurance

PT Tugu Pratama

3. Malaysia

Market Overview

Table 12: Malaysian Recent Past, Current & Future Analysis

for Insurance Industry by Segment - Life Insurance and

General Insurance Markets Independently Analyzed with

Premiums Written in RM Million for the Years 2006 through

2010 (includes corresponding Graph/Chart)

Table 13: Malaysian 5 -Year Perspective for Insurance

Industry by Segment - Percentage Breakdown of Premiums

Written for Life Insurance and General Insurance Markets for

2006, 2008, and 2010 (includes corresponding Graph/Chart)

Table 14: Malaysian Recent Past & Current Analysis for

Insurance Industry by Segment - Life and General Insurance

Markets Independently Analyzed with Premium Income in RM

Million for the Years 2004 through 2008 (includes

corresponding Graph/Chart)

Table 15: Malaysian 5 -Year Perspective for Insurance

Industry by Segment - Percentage Breakdown of Premium Income

for Life Insurance and General Insurance Markets for 2004,

2006, and 2008 (includes corresponding Graph/Chart)

Table 16: Malaysian Recent Past & Current Analysis for

Insurance Industry by Segment - Life and General Insurance

Markets Independently Analyzed with Insurance Fund Assets in

RM Million for the Years 2004 through 2008 (includes

corresponding Graph/Chart)

Table 17: Malaysian 5 -Year Perspective for Insurance

Industry by Segment - Percentage Breakdown of Insurance Fund

Assets for Life Insurance and General Insurance Markets for

2004, 2006, and 2008 (includes corresponding Graph/Chart)

Insurance - A Booming Industry

Policies and Measures Reinforce Insurance Sector

Central Bank to Deregulate Insurance Sector

Role of Banks in Promoting Insurance

Health Insurance Industry Set to Record High Growth

Medical and Health Insurance Pick up Growth

Tourism Industry Follow Suit

Life Insurance Industry

Table 18: Malaysian Life Insurance Industry (2006 & 2007):

Percentage Breakdown of Premiums by Policy Type for

Temporary, Whole Life, Investment Linked, Endowment, Annuity,

and Others (includes corresponding Graph/Chart)

Table 19: Malaysian Life Insurance Industry (2007 & 2008):

Percentage Breakdown of Benefit Payments by Category for

Surrender, Maturity/Vesting, Medical, Cash Bonuses, Death and

Disability, and Others (includes corresponding Graph/Chart)

Key Players

Table 20: Leading Players in the Malaysian Life Insurance

Industry (2002) - Gross Written Premium in US$ Million for

Great Eastern, AIA, Prudential, ING, and MAA (includes

corresponding Graph/Chart)

Non-Life Insurance Industry

Table 21: Malaysian General Insurance Market (2007 & 2008):

Percentage Breakdown of Premiums by Category for Motor,

Fire, MAT, P A, CAR & ENG, Medical, Liability, WC & EL, and

Others (includes corresponding Graph/Chart)

Table 22: Malaysian Non-Life Insurance Market (2005):

Percentage Breakdown of Premiums by Segment - Auto,

Engineering, Fire, Liability, Marine, Medical & PA, and

Miscellaneous (includes corresponding Graph/Chart)

Key Players - A Past Perspective

Table 23: Malaysian Non-Life Insurance Industry (2003):

Gross Written Premium in US$ Million by Leading Companies

for Kurnia, Malaysia National, Allianze General, Malaysia

Assurance Alliance, AMI, American Home, Uni. Asia General,

Hong Leong, Oriental Capital, and AmAssurance (includes

corresponding Graph/Chart)

Table 24: Leading Players in the Malaysian Non-Life

Insurance Industry (2002) - Gross Written Premium in US$

Million for Kurnia, MNI, Allianz General, MAA, and Uni.Asia

General (includes corresponding Graph/Chart)

4. Mauritius

Life Insurance Industry

Table 25: Life Insurance Industry of Mauritius (2003): Gross

Written Premium in US$ Million by Leading Companies for BAI,

Sicom, Anglo Mauritius, LIC, Mauritius Union, Albatross, La

Prudence, Island Life, Mauritian Eagle, and Sun (includes

corresponding Graph/Chart)

Non-Life Insurance Industry

Table 26: Non-Life Insurance Industry of Mauritius (2003):

Gross Written Premium in US$ Million by Leading Companies

for Swan, Mauritian Eagle, Mauritius Union, Albatross, Sicom,

La Prudence, Island Gen, Sun, New India, and Lamco (includes

corresponding Graph/Chart)

5. Mongolia

A Recent Past Review of Mongolian Insurance Market

Table 27: Mongolian Insurance Market (2003 & 2004): Total

Premiums in Million Togrog by Category - Liability Insurance,

Property Insurance, and Personal Accident, Health and Other

Insurance (includes corresponding Graph/Chart)

Table 28: Mongolian Liability Insurance Market (2003 & 2004):

Total Premiums in Million Togrog by Segment - Driver's

Liability, Driver's Liability of Public Transportation,

Professional Liability, Aircraft Owner's & Possessor's

Liability, and Others (includes corresponding Graph/Chart)

Table 29: Mongolian Property Insurance Market (2003 & 2004):

Total Premiums in Million Togrog by Segment - Aircraft Hull

Insurance, Electrical Equipment, Motor Vehicle, Property

Casualty, and Others (includes corresponding Graph/Chart)

Table 30: Mongolian Personal Accident, Health & Allied

Insurance Market (2003 & 2004): Total Premiums in Million

Togrog by Segment - Disability, Horse Racing, Personal

Accident, Travel, and Others (includes corresponding

Graph/Chart)

Table 31: Mongolian Insurance Market (2003 & 2004): Claims

Paid in Million Togrog by Category - Liability Insurance,

Property Insurance, and Personal Accident, Health and Other

Insurance (includes corresponding Graph/Chart)

Table 32: Mongolian Liability Insurance Market (2003 & 2004):

Claims Paid in Million Togrog by Segment - Driver's

Liability, Driver's Liability of Public Transportation, and

Others (includes corresponding Graph/Chart)

Table 33: Mongolian Property Insurance Market (2003 & 2004):

Claims Paid in Million Togrog by Segment - Electrical

Equipment, Motor Vehicle, Property Casualty, Transport and

Others (includes corresponding Graph/Chart)

Table 34: Mongolian Personal Accident, Health & Allied

Insurance Market (2003 & 2004): Claims Paid in Million Togrog

by Segment - Disability, Personal Accident, Travel, and

Others

Major Players

Table 35: Leading Players in Mongolian Insurance Market

(2003 & 2004): Percentage Breakdown by Total Premiums by

Company - Ard Daatgal, Bodi Daatgal, Mongol Daatgal,

Mongolian Insurance Group, Nomin Daatgal, and Others

(includes corresponding Graph/Chart)

Table 36: Leading Players in Mongolian Insurance Market

(2004): Percentage Breakdown by Claims Paid by Company -

Bodi Daatgal, Erel Daatgal, Mongol Daatgal, Nomin Daatgal,

Prime Daatgal, and Others (includes corresponding

Graph/Chart)

6. New Zealand

Industry Overview

Table 37: Insurance Industry in New Zealand (2005): Per

Capita Premium in US$ by Category - Life and Non-Life

Table 38: Insurance Industry in New Zealand (2003):

Percentage Share Distribution of Insurance Companies by

Region for Wellington, Auckland, Canterbury, Otago, and

Other (includes corresponding Graph/Chart)

Finance Companies Enter Insurance Sector

Regulatory Framework

Life Insurance Sector

Key Players

Table 39: Life Insurance Industry in New Zealand (2002):

Gross Written Premium in US$ Million by Leading Companies

for Sovereign, AXA, AMP, Royal & SunAlliance, Tower,

Fidelity, Westpac, BNZ, NPF, and NBNZ Life (includes

corresponding Graph/Chart)

Table 40: Leading Players in the Life Insurance Industry of

New Zealand (2000) - Gross Written Premium in US$ Million

for Soveriegn Group, AXA, AMP, Royal & SunAlliance, and

Tower Health (includes corresponding Graph/Chart)

Non-Life Insurance Sector

Table 41: New Zealand Non-Life Insurance Industry (2003):

Gross Written Premium in US$ Million by Leading Companies

for IAG New Zealand, Vero, Lumley General, AMI, American

Home, Tower, ACE, Farmers Mutual, Allianz New Zealand, and

Medical Insurance Society (includes corresponding

Graph/Chart)

Table 42: Leading Players in the Non-Life Insurance Industry

of New Zealand (2002) - Gross Written Premium in US$ Million

for IAG New Zealand, Royal & Sun Alliance, NZI, Lumley

General, and AMI (includes corresponding Graph/Chart)

7. Pakistan

Market Overview

Table 43: Pakistani Recent Past, Current & Future Analysis

for Insurance Market with Gross Premiums in PKR Million for

the Years 2005 through 2009 (includes corresponding

Graph/Chart)

Removal of Entry Barriers

Life Insurance Industry

Entry of Overseas Life Insurers

Key Players

Table 44: Leading Players in the Pakistani Life Insurance

Industry (2002) - Gross Written Premium in US$ Million for

State Life, EFU Life, Commercial Union, ALICO, and

Metropolitan Life (includes corresponding Graph/Chart)

Non-Life Insurance Industry

Table 45: Leading Players in the Pakistani Non-Life

Insurance Industry (2002) - Gross Written Premium in US$

Million for Adamjee, EFU, National, New Jubilee, and New

Hampshire (includes corresponding Graph/Chart)

8. Philippines

Government Mulls Hike in Insurance Coverage

Life Insurance Market

Table 46: Leading Players in the Life Insurance Industry of

Philippines (2000) - Gross Written Premium in US$ Million

for Philam Life & Gen, Sun Life, Insular Life, Manulife, and

Prumerica Life (includes corresponding Graph/Chart)

Non-Life Insurance Market

Table 47: Non-Life Insurance Industry of Philippines (2003):

Gross Written Premium in US$ Million by Leading Companies

for Malayan Insurance, Prudential Guarantee, Pioneer, BPI/MS,

PHILAM Ins, UCPB Gen, Standard, Alliedbankers, Federal

Phoenix, and Phil. Charter (includes corresponding

Graph/Chart)

Table 48: Leading Players in the Non-Life Insurance Industry

of Philippines (2000) - Gross Written Premium in US$ Million

for Malayan Ins, Prudential Gtee, FGU Ins, PHILAM Ins, and

Federal Phoenix (includes corresponding Graph/Chart)

9. South Korea

One of the Largest Insurance Markets Worldwide

Table 49: South Korean Recent Past, Current & Future Analysis

for Insurance Industry by Segment - Non-Life and Life

Markets Independently Analyzed with Premium Income in US$

Million for the Years 2006 through 2010 (includes

corresponding Graph/Chart)

Table 50: South Korean 5 -Year Perspective for Insurance

Industry by Segment - Percentage Breakdown of Premium Income

for Life and Non-Life Markets for 2006, 2008, and 2010

(includes corresponding Graph/Chart)

Table 51: South Korean Insurance Industry (2006): Per Capita

Premium in US$, and Penetration of Insurance by Category -

Life and Non-Life

A Perspective of the Market

Ageing Population to Drive the South Korean Insurance Market

Increasing Premium Rates Attract Public Wrath

Measures to Sustain Financial Stability

Insurers’ Assets Exceeds 300 Trillion Won

Insurance Industry Eyes Advanced IT Systems

Chinese Market offer Greener Pastures for Korean Insurers

Non-Life and Life Insurance Companies Plan Cross-Selling of Insurance Products

Online Motor Insurance Rapidly Gaining Ground

Online Motor Insurance Premiums to Cross 100 Billion Won Mark

Renewal Rates Increase in Motor Insurance

Life Insurance Industry

Life Insurance to Debut in the Korean Stock Market

Korean Life Insurers Provide Strong Growth Potential

Korea - A Well Developed Market with a Lucrative Shift in Product Mix

Life Insurance Industry Undergoes Major Changes

Quasi-Insurers Enhance Penetration in Korean Life Insurance

Bancassurance Boosts Life Insurance Market

But also Brews Rift Between Banks and Insurers

Bigwigs Lose Share

Foreign Life Insurance Firms Dominate

Table 52: Korean Life Insurance Market (2005): Percentage

Breakdown of Premium by Type - Individual (Endowment, Pure

Endowment, Term Insurance), and Group (includes

corresponding Graph/Chart)

Key Players

Table 53: Leading Players in South Korean Life Insurance

Market (2006 & 2007): Percentage Breakdown of Premiums by

Company - Samsung Life, Kyobo Life, Korea Life, ING, AIG,

and Others (includes corresponding Graph/Chart)

Table 54: Leading Players in South Korean Corporate Pension

Insurance Market (2006 & 2007): Percentage Breakdown of

Premiums by Company - Samsung Life, Samsung F&M, Kyobo Life,

Korea Life, Mirae Asset Life, Other Life Insurers, and Other

P&C Insurers (includes corresponding Graph/Chart)

Table 55: Leading Players in South Korean Life Insurance

Industry (2002) - Gross Written Premium in US$ Million for

Samsung Life, Korea Life, Kyobo life, Allianz, and SK Life

(includes corresponding Graph/Chart)

Non-Life Insurance Industry

Long-Term Insurance and Investment Profits Aid Non-Life

Sector’s Growth

Table 56: Korean Non-Life Insurance Market (2005 & 2006):

Percentage Breakdown of Direct Premiums by Category - Auto,

Commercial, and Long-term (includes corresponding

Graph/Chart)

Key Players

Table 57: Leading Players in Korean Non-Life Insurance

Market (2005): Percentage Market Share by Insurer - Dongbu

Insurance, Hyundai M&F, LIG Insurance, Samsung, and

Others(includes corresponding Graph/Chart)

Table 58: Leading Players in Korean Non-Life (Long-Term)

Insurance Market (2005): Percentage Market Share by Insurer

- Dongbu Insurance, Hyundai M&F, LIG Insurance, Samsung,

and Others(includes corresponding Graph/Chart)

Table 59: Leading Players in Korean Non-Life (Commercial)

Insurance Market (2005): Percentage Market Share by Insurer

- Dongbu Insurance, Hyundai M&F, LIG Insurance, Samsung, and

Others (includes corresponding Graph/Chart)

Table 60: South Korean Non-Life Insurance Industry (2003):

Gross Written Premium in US$ Billion by Leading Companies

for Samsung, Hyundai, Dongbu, LG, Oriental, Seoul

Guarantee, First, Shindongah, Ssangyong, and Daehan

(includes corresponding Graph/Chart)

Table 61: Leading Players in South Korean Non-Life

Insurance Industry (2002) - Gross Written Premium in US$

Million for Samsung, Hyundai, Dongbu, LG, and Oriental

(includes corresponding Graph/Chart)

Auto Insurance Market

Battle Heats up in Korean Online Motor Insurance Market

Table 62: Korean Automotive Insurance Market (2005): Direct

Premiums and Claims Paid in Won Billion

Table 63: Leading Players in Korean Automotive Insurance

Market (2005): Percentage Market Share by Insurer - Dongbu

Insurance, Hyundai M&F, LIG Insurance, Samsung, and

Others(includes corresponding Graph/Chart)

Korean Marine and Aviation Insurance - An Overview

Property Insurance Market

Table 64: Korean Non-Life Insurance Market (2005): Percentage

Breakdown of Premium by Distribution Channel -Agents,

Bancassurance, Brokers, Employees, Solicitors, and Others

(includes corresponding Graph/Chart)

A Recent Past Market Scenario

Auto Insurance Market

Duration of Medical Insurance Coverage

Insurance Fraud Costs Dear

Initiatives in Web-Based Insurance Services

Focus on Select South Korean Players

Kyobo Life Insurance Co., Ltd. - Leading Life Insurer in Korea.

Samsung Life Insurance

Shinhan Bank

10. Sri Lanka

Life Insurance Market

Table 65: Leading Players in the Sri Lankan Life Insurance

Industry (2003) - Gross Written Premium in US$ Million for

Sri Lanka, Ceylinco, Eagle, Union, and Janashakthi (includes

corresponding Graph/Chart)

Non-Life Insurance Market

Table 66: Leading Players in the Sri Lankan Non-Life

Insurance Industry (2003) - Gross Written Premium in US$

Million for Sri Lanka, Ceylinco, Janashakthi, Union, and

Eagle (includes corresponding Graph/Chart)

11. Taiwan

Table 67: Taiwanese Recent Past, Current & Future Analysis

for Insurance Industry by Segment - Life and Non-Life Markets

Independently Analyzed with Annual Premium Income in NT$

Billion for the Years 2006 through 2010 (includes

corresponding Graph/Chart)

Table 68: Taiwanese 5 -Year Perspective for Insurance Industry

by Segment - Percentage Breakdown of Premium Income for Life

and Non-Life Markets for 2006, 2008, and 2010 (includes

corresponding Graph/Chart)

Table 69: Taiwanese Insurance Industry (2006): Per Capita

Premium in US$, and Penetration of Insurance by Category -

Life and Non-Life

Market Overview

Opportunity to Expand to Mainland China Sparks Insurance Industry Growth

Establishment of Appointed Actuary System to Boost Growth

Risk-Based Capital Mechanism Launched

Central Insurance Offers Abduction Insurance for Taiwanese Businessmen

Tokio Marine Merges with Newa Insurance Co., Offers Typhoon Insurance

Table 70: Taiwanese Insurance Industry (2005): Benefits Paid

in NT$ Billion by Domestic Insurance Companies by Type

-Annuity, Death, Disability, Dread Disease, Maturity,

Medical, Surrender, Survivor Benefit, and Others (includes

corresponding Graph/Chart)

Table 71: Taiwanese Insurance Industry (2005): Benefits Paid

in NT$ Million by Foreign Insurance Companies by Type

-Disability, Death, Dread Disease, Maturity, Medical,

Surrender, Survivor Benefit, and Others (includes

corresponding Graph/Chart)

Table 72: Taiwanese Insurance Industry (2005): Reinsurance

Claims Paid in NT$ Million by Category - Life, Automobile,

Fire, Fishing Vessel, Marine Cargo, Marine Hull, Personal

Accident, and Miscellaneous (includes corresponding

Graph/Chart)

Life Insurance Sector

Table 73: Taiwanese Life Insurance Market (2007 & 2008):

Percentage Breakdown of Premiums by Category for Individual

Life Insurance, Health Insurance, Accident Insurance, and

Annuity Insurance (includes corresponding Graph/Chart)

Table 74: Taiwanese Life Insurance Industry (2006):

Percentage Breakdown of Premiums by Type - Accident, Annuity,

Health, Life, and Group Insurance (includes corresponding

Graph/Chart)

Table 75: Taiwanese Life Insurance Industry (2005): Premium

Income in NT$ Billion by Domestic and Foreign Companies by

Sector - Accident, Annuity, Health, Life, and Group

Insurance (includes corresponding Graph/Chart)

Table 76: Taiwanese Life Insurance Industry (2005): Premium

Income in NT$ Billion by Domestic and Foreign Companies for

Individual Life (Endowment, Pure Endowment, Insurance

Against Death), and Individual Annuity (Deferred Annuity,

Immediate Annuity) (includes corresponding Graph/Chart)

Interest Rate Environment Restricts Growth of Life Insurance

Products

Key Players

Table 77: Leading Players in Taiwanese Life Insurance

Industry (2005): Percentage Market Share of Premiums by

Company - Cathay Life, Chunghwa, Fubon Life, ING Life, Nan

Shan Life, Shin Kong Life, and Others (includes

corresponding Graph/Chart)

Table 78: Taiwanese Life Insurance Industry (2003): Gross

Written Premium in US$ Billion by Leading Companies for

Cathay Life, Nan Shan Life, Shin Kong Life, Chungwa Post,

ING Life, Fubon Life, Mass Mutual Mercuries, Kuo Hua Life,

AZPL, and China Life (includes corresponding Graph/Chart)

Table 79: Leading Players in the Taiwanese Life Insurance

Industry (2002) - Gross Written Premium in US$ Million for

Cathay Life, Nan Shan Life, Shin Kong Life, ING Life, and

Kuo Hua Life (includes corresponding Graph/Chart)

Non-Life Insurance Sector

General Insurance Sector Set to Witness Buoyant Times

Table 80: Taiwanese Non-life Insurance Market (2007 & 2008):

Percentage Breakdown of Premium Income by Category for

Automobile, Fire, Marine Cargo, Engineering, Marine Hull,

Aviation, and Miscellaneous Casualty Insurance (includes

corresponding Graph/Chart)

Table 81: Taiwanese Non-Life Insurance Industry (2006):

Direct Written Premiums and Retained Premiums in NT$ Million

by Sector - Auto, Aviation, Fire, Marine, and Other

Property & Casualty

Table 82: Taiwanese Non-Life Insurance Industry (2006):

Direct Written Premiums and Retained Premiums in NT$

Million by Domestic Companies, and Foreign Companies

Market Players - The Strategies

Market Leaders

Table 83: Leading Players in Taiwanese Non-Life Insurance

Industry (2005 & 2006): Percentage Market Share of Premiums

by Company - Cathay Century, Central, Chung Kuo, the First,

Fubon, Mingtai, Shin Kong, South China, Tai Ping, Taian,

Taiwan Fire, Tokio Marine Newa, and Others (includes

corresponding Graph/Chart)

Table 84: Taiwanese Non-Life Insurance Industry (2003):

Gross Written Premium in US$ Million by Leading Companies

for Fubon, Mingtai, Shin Kong, Union, Cathay Century,

Central, Taian, Zurich, Chung Kuo, and Newa (includes

corresponding Graph/Chart)

Table 85: Taiwanese Non-Life Insurance Industry (2003): Net

Premium and Net Losses in NT$ Million for Domestic and

Foreign Companies

Table 86: Leading Players in the Taiwanese Non-Life

Insurance Industry (2002) - Gross Written Premium in US$

Million for Fubon, Mingtai, Shin Kong, Central, and Cathay

Century (includes corresponding Graph/Chart)

Assessing Earthquake Exposure - A Key Development During Early 2000s

12. Thailand

Market Overview

Insurance Sector Representation

Table 87: Thai Recent Past, Current & Future Analysis for

Insurance Industry by Segment - Life and Non-Life Markets

Independently Analyzed with Annual Premium Income in Billion

Baht for the Years 2005 through 2010 (includes corresponding

Graph/Chart)

Table 88: Thai 6 -Year Perspective for Insurance Industry by

Segment - Percentage Breakdown of Premium Income for Life and

Non-Life Insurance Markets for 2005, 2008, and 2010

(includes corresponding Graph/Chart)

Thai Insurance Industry - Obstacles and Issues

Group Policies - Exhibiting Fantastic Growth

Low Return on Investments Cast Shadow on New Business

Table 89: Thai Insurance Industry (2005 & 2006): Benefits

Paid in Million Baht by Category - Annuity, Accident &

Disability, Death, Health, Maturity, Surrender, and Others

(includes corresponding Graph/Chart)

Life Insurance Sector

Table 90: Thai Life Insurance Market (2007): Premiums in

Billion Baht by Group & Individual Category - Main Policy,

Health Rider, Accident Rider, Other Rider, and Personal

Accident (includes corresponding Graph/Chart)

Major Players

Table 91: Leading Players in Thai Life Insurance Market (2006 &

2007): Percentage Breakdown of Direct Premiums by Company -

A.I.A, Thai Life Insurance, Ayudhya Allianz C.P Life,

Muang Thai Life, Siam Commercial New York, Bangkok Life,

Ocean Life, and Others (Including Krungthai Axa Life, ING

Life Limited, and Finansa Life Assurance) (includes

corresponding Graph/Chart)

Table 92: Thai Life Insurance Industry (2003): Gross Written

Premium in US$ Million by Leading Companies for AIA, Thai

Life, Ayudhya Allianz C.P., Bangkok, Ocean, Muang Thai, Siam

Commercial, Nationwide, Zurich National, and South East

(includes corresponding Graph/Chart)

Table 93: Leading Players in the Thai Life Insurance Industry

(2002) - Gross Written Premium in US$ Million for AIA, Thai

Life, Ayudhya CMG, Bangkok, and Ocean (includes

corresponding Graph/Chart)

Non-Life Insurance Sector

Table 94: Thai Non-life Insurance Market (2006 & 2007):

Percentage Breakdown of Net Written Premiums by Line of

Business - Automobile (Voluntary, & Compulsory), Fire, Marine

& Transportation, and Miscellaneous* (includes corresponding

Graph/Chart)

Table 95: Leading Players in Thai Non-Life Insurance Market

(2006): Percentage Breakdown of Direct Premiums by Company -

Viriyah Insurance, Sampanth Insurance, Bangkok Insurance,

Synmunkong Insurance, The Safety Insurance, LMG Insurance,

Thanachart Insurance, Liberty Insurance, Mittare Insurance,

Dhipaya Insurance and Others (includes corresponding

Graph/Chart)

Table 96: Thai Non-life Insurance Market (2006 & 2007):

Percentage Breakdown of the Sum Insured in Billion Baht by

Line of Business - Marine & Transportation, Industrial (All

Risks), Personal Accident, Fire, Automobile, and

Miscellaneous* (includes corresponding Graph/Chart)

Table 97: Thai Non-Life Insurance Industry (2003): Gross

Written Premium in US$ Million by Leading Companies for

Viriyah, Dhipaya, Bangkok, Sampanth, Deves, Synmunkong, The

Safety, New Hampshire, Aviva, and Commercial (includes

corresponding Graph/Chart)

Table 98: Leading Players in the Thai Non-Life Insurance

Industry (2002) - Gross Written Premium in US$ Million for

Viriyah, Dhipaya, Bangkok, Deves, and The Safety (includes

corresponding Graph/Chart)

A Recent Past Market Scenario

Life Insurance in New Millennium

Non-Life Sector Lagging Behind

The Reforms

Investment Returns

Joint Ventures on the Rise

13. Vietnam

Market Overview

Insurance Sector Representation

Table 99: Vietnamese Recent Past, Current & Future Analysis

for Insurance Industry by Segment - Life and Non-Life

Markets Independently Analyzed with Annual Premium Income in

US$ Million for the Years 2005 through 2009 (includes

corresponding Graph/Chart)

Table 100: Vietnamese 5 -Year Perspective for Insurance

Industry by Segment - Percentage Breakdown of Premium Income

for Life and Non-Life Insurance Markets for 2005, 2007, and

2009 (includes corresponding Graph/Chart)

Table 101: Insurance Market in Vietnam: Premium in US$

Million and Premium/GDP for the Period 1997-2002 (includes

corresponding Graph/Chart)

Industry Structure

Major Categories of Insurance

Life Insurance Sector Witnesses Decline

Insurance Business Suffers from Lack of Domestic Brokers

Stiff Competition Brewing

Players and the Potential

State Insurer Feels the Pinch

Leading Insurance Companies/Groups Active in Vietnam

Entry of Foreign Companies

Foreign Insurers Make Mark in Vietnamese Insurance Market

Foreign Insurers Increasingly Rely on Joint Ventures to Enter Vietnamese Market

Foreign Insurers Queue Up to Enter Vietnam Life Market

The Present and Future

The Obligatory Social Insurance

Life Insurance Market

Key Market Characteristics

Key Players

Table 102: Leading Players in the Life Insurance Industry

of Vietnam (2004): Percentage Market Share by Company -

AIA, Bao Minh CMg, BaoViet, Manulife, and Prudential

(includes corresponding Graph/Chart)

Table 103: Leading Players in the Life Insurance Industry

of Vietnam (2003): Percentage Share Breakdown by Premium

for BaoViet, Prudential, and Manulife (includes

corresponding Graph/Chart)

Table 104: Leading Players in the Life Insurance Industry

of Vietnam (2001) - Gross Written Premium in US$ Million

for Bao Viet, Prudential, Manulife, AIA, and Bao Minh CMG

(includes corresponding Graph/Chart)

Non-Life Insurance Sector

Leading Players

Table 105: Leading Players in the Non-Life Insurance

Industry of Vietnam (2004): Percentage Market Share by

Company - Allianz, Bao Minh, BIDV-QBE, BaoViet, PJICO, PTI,

PVI, Samsung-Vina, UIC, VIA, and Others (includes

corresponding Graph/Chart)

Table 106: Leading Players in the Non-Life Insurance

Industry of Vietnam (2003): Percentage Share Breakdown by

Premium for BaoViet, BaoMinh, PJICO, PV Insurance, and

Others (includes corresponding Graph/Chart)

Table 107: Leading Players in the Non-Life Insurance

Industry of Vietnam (2001) - Gross Written Premium in US$

Million for Bao Viet, Bao Minh, PVIC, PJICO, and PTI

(includes corresponding Graph/Chart)

Vietnamese Insurance Industry - A Recent Past Perspective

Unfair Competition Moves

Senior Executives Get Training in International Practices

Focus on Select Vietnamese Players

Baominh-CMG

BaoViet (Vietnam Insurance Corp.)

14. Product Launches

Allianz Life Launches Capital Protected Plan II

SLFP Introduces Sachetized Insurance Packages

Jerneh Insurance Launches Management Corporation Strata Title Insurance Scheme

MITA and Kurnia Form Partnership for Providing New Insurance Scheme

Lloyd’s to Introduce Islamic Insurance Polices

15. Recent Industry Activity

AIG Forms Alliance with Seoul Guarantee

ERGO Acquires Stake in Daum Direct Auto Insurance

Kookmin Bank to Divest Interest in ING Life Insurance

HSBC Insurance to Acquire Stake in Hana’s Life Insurance Subsidiary

Hainan Airlines to Form Joint Venture with SKLI of Taiwan

PAC Partners with TIA Technology to Gain Greater Market Share in Malaysia

DRB-HICOM to Divest Interests in Insurance Businesses

AXA Enters into Strategic Partnership with Bao Minh Insurance

Bao Minh Insurance and Federal Insurance Enter into Agreement

Allied Bank to Increase Stake in New York Life Insurance

Aviva Obtains Regulatory Consent for Joint Venture in Taiwan

HSBC Establishes Life Insurance Company in Taiwan

AEGON & Taishin Enters into Joint Venture

Allianz to Take Over Commerce Assurance

Bumiputra to Divest Stake

Manila Electric to Acquire Insurance Firm

Allianz to Divest Stake in Hana Life Insurance

AXA to Acquire 75% Stake in Kyobo Auto

Allianz to Buy Remaining Stake in Allianz President

Aviva to Form JV with FFHC

ACE Enters Vietnam’s Non-Life Sector

Cardif, Seabank and Vietcombank to Form Joint Venture

Indonesian Govt to Divest Stake in Two Companies

Boustead Holdings to Buy 45% Stake in Royal & SunAlliance Insurance

Allied Bank and Lucio Tan Group to Buy NY Life Insurance

Qatar Company to Acquire Sampanh Insurance

AIG Buys Out Central Insurance

Prudential Secures License for Islamic Insurance

AXA Takes Over Two Insurers in Asia

HSBC and AIG Collaborate to Provide Joint Insurance in Indonesia

CIGNA to Buy Stake in Thai Charoen Insurance

QBE Buys Stake in Allianz

OCBC Bank (M) Bhd Partners with Pacific Insurance

ISM Enters into Collaborative Agreement with SAS

Malaysian Insurance Institute Launches MII e-Academy

Aviva Takes Over Stake in Eagle Insurance of Sri Lanka

Standard Chartered and Eagle Insurance Form Alliance

Insurance Australia Acquires Stake in Safety Insurance

Navakij Insurance to Acquire Ocean General’s Underwriting Portfolio

AIG Direct Marketing to Acquire Central Insurance

Nanshan Life to Foray in Vietnamese Insurance Market

Bangkok Bank Acquires 10% Stake in People Insurance of China Corporate

Hyundai Eyes the US Market

Mapfre Insular Insurance - A Philippino-Spanish Venture Takes Wings

UMRe Merges with National Re

Samsung Establishes Wholly Owned Subsidiary in China

Met Life Inc Divests Unit in Indonesia

Aon Acquires Remaining Stake in Aon Inchibrok

BaoViet and BaoMinh Join Hands

Millea Acquires Allianz President General

Aon Risk Acquires Wrightson Ltd

Finansa Public Acquires Nationwide Life Assurance

Promina’s Vero Forms Joint Venture with CTIL

16. Strategic Corporate Developments in Recent Past

PIC Acquires 95% Stake in Equitable PCI

Allianz Buys 49% Stake in JV with AGF Insurance

Manulife Financial Concludes an Acquisition Agreement with Chinfon Global

Sun Insurance Acquires Stake in Genins India

Bank of Philippine Islands Merges Insurance Subsidiaries

Crawford Opens Office in New Zealand

AIA Signs Contract with Asia Commercial Bank

Asia Commercial Bank and Prudential Vietnam Sign Cooperation Agreement

First Fire & Marine Insurance Signs Deal With Sunwards Industrial

BaoViet Signs Agreement with Vietnam Bank for Investment and Development

Dabur CGU Life Insurance Acquires Insurance Corp. of Singapore

Bank of Philippines Islands and Mitsui Marine and Fire Insurance Sign an MoU

OAMPS Insurance Brokers Acquire Policies of Harts One to One Insurance Solutions

GAB Robins Opens Representative Office in China

Aquila Forges Partnership with Macquarie Bank

Kub Tekstil Signs MOU with Kurnia Insurans

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