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Thailand Insurance Report Q3 2009Published by: Business Monitor International Published: Jul. 2, 2009 - 98 Pages Table of Contents
AbstractThis report was written in late May 2009. Relative to the Q209 report, the main changes pertain to theprofiles of companies - both regional and predominantly local - which have been updated considerably.We have also included a brief overview of conditions - and development of premium income - throughQ109. This is based on comments made by major (mainly listed) companies which became available (forthe most part) from mid-May. We hope to build on this section in terms of detail.As we explain, Q109 was in many ways a challenging but far from disastrous quarter for the majorprotagonists in most markets. Notwithstanding the fact that particular non-life markets suffered as a resultof a slump in the number of cars registered, and correspondingly lower demand for compulsory thirdparty motor (CTPM) insurance and voluntary motor insurance, global non-life premiums generally heldup well in spite of the global economic downturn. In contrast, life premiums were, in most markets, lowerin Q109 than they had been in Q108. This was largely the result of the past volatility in global equitymarkets, although there were also other problems. Conditions remain fair in the global reinsurancemarket. In terms of the major regions whose insurance markets are covered by BMI’s reports, LatinAmerica and the Middle East and North Africa stood out in terms of growth in premiums (in non-lifeinsurance in particular, but also in life insurance). Conditions were far more mixed in Central and EasternEurope (particularly in non-life insurance, where the downturn in car registrations hit hard) and AsiaPacific (where various factors caused slippage in life premiums in many markets). Revision Of Data And Forecasts We have updated the insurance data for 2008 - and our forecasts for the next five years. In many cases,preliminary or final figures for last year have been published by the regulator or the trade association. Insome cases, we have estimated figures for 2008, but only on the basis of information that has beenpublished in relation to a significant portion of the year. It should also be noted that, in some cases wehave based our 2008 estimate on results disclosed by individual companies operating in the market inquestion. Get Full Details About This Report >> |
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