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The Insurance Industry in Bangladesh, Key Trends and Opportunities to 2018

The Insurance Industry in Bangladesh, Key Trends and Opportunities to 2018

Synopsis

Timetric’s The Insurance Industry in Bangladesh, Key Trends and Opportunities to 2018 report provides detailed analysis of the market trends, drivers, challenges in the Bangladeshi insurance industry. It provides key performance indicators such as written premium, incurred loss, loss ratio, combined ratio, total assets, total investment income and retentions during the review period (2009–2013) and forecast period (2013–2018). The report also analyzes 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.

Summary

The report provides in-depth market analysis, information and insights into the Bangladeshi insurance industry, including:

  • The Bangladeshi insurance industry's growth prospects by segment and category
  • Key trends, drivers and challenges in the Bangladeshi insurance industry
  • The detailed competitive landscape in the Bangladeshi insurance industry
  • Detailed regulatory policies of the Bangladeshi insurance industry
Scope

This report provides a comprehensive analysis of the insurance industry in Bangladesh:
  • It provides historical values for the Bangladeshi insurance industry 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 segments in the Bangladeshi insurance industry, along with market forecasts until 2018.
  • It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, combined ratio, total assets, total investment income and retentions.
  • It profiles the top insurance companies in Bangladesh 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 Bangladeshi insurance industry and each segment and category within it.
  • Understand the demand-side dynamics, key market trends and growth opportunities in the Bangladeshi insurance industry.
  • Assess the competitive dynamics in the Bangladeshi insurance industry.
  • Identify the growth opportunities and market dynamics in key segments.
  • Gain insights into key regulations governing the Bangladeshi insurance industry and their impact on companies and the industry's future.
Key Highlights
  • The Bangladeshi insurance industry grew in terms of gross written premium at a review-period CAGR of 2.3%.
  • Bangladesh is the second most supportive country to free market economy, thus very lucrative for foreign investors.
  • The non-life segment accounted for 89.5% of the total insurance gross written premium in 2013.
  • The non-life segment grew at a review-period CAGR of 2.9% while life insurance recorded a review-period CAGR of 8.8%.
  • Low insurance penetration of 0.12% in 2013 provides opportunity for the insurance growth.
  • The insurance industry in Bangladesh is regulated by the Insurance Development and Regulatory Authority (IDRA).
  • As of 2013, 45 insurance companies operated in non-life segment, and 30 life insurers were active.


  • Executive Summary
  • Introduction
    • What is this Report About?
    • Definitions
      • Table Insurance Industry Definitions
    • Methodology
  • Bangladeshi Insurance Industry Overview
    • Bangladeshi Insurance Industry
      • Table Bangladeshi Insurance - Gross Written Premium by Segment (BDT Billion), 2009-2013
      • Table Bangladeshi Insurance - Gross Written Premium by Segment (US$ Million), 2009-2013
      • Table Bangladeshi Insurance - Gross Written Premium by Segment (BDT Billion), 2013-2018
      • Table Bangladeshi Insurance - Gross Written Premium by Segment (US$ Million), 2013-2018
      • Table Bangladeshi Insurance - Segmentation by Gross Written Premium (% Share), 2009-2018
      • Table Bangladeshi Insurance - Direct Written Premium by Segment (BDT Billion), 2009-2013
      • Table Bangladeshi Insurance - Direct Written Premium by Segment (US$ Million), 2009-2013
      • Table Bangladeshi Insurance - Direct Written Premium by Segment (BDT Billion), 2013-2018
      • Table Bangladeshi Insurance - Direct Written Premium by Segment (US$ Million), 2013-2018
      • Table Bangladeshi Insurance - Segmentation by Direct Written Premium (% Share), 2009-2018
    • Key Industry Trends and Drivers
    • Challenges
  • Industry Segmentation
    • Life Insurance
      • Table Bangladeshi Life Insurance - Gross Written Premium (BDT Million), 2009-2013
      • Table Bangladeshi Life Insurance - Gross Written Premium (BDT Million), 2013-2018
      • Table Bangladeshi Life Insurance - Direct Written Premium (BDT Million), 2009-2013
      • Table Bangladeshi Life Insurance - Direct Written Premium (BDT Million), 2013-2018
      • Table Bangladeshi Life Insurance - Earned Premium (BDT Million), 2009-2013
      • Table Bangladeshi Life Insurance - Earned Premium (BDT Million), 2013-2018
      • Table Bangladeshi Life Insurance - Paid Claims (BDT Million), 2009-2013
      • Table Bangladeshi Life Insurance - Paid Claims (BDT Million), 2013-2018
      • Table Bangladeshi Life Insurance - Incurred Loss (BDT Million), 2009-2013
      • Table Bangladeshi Life Insurance - Incurred Loss (BDT Million), 2013-2018
      • Table Bangladeshi Life Insurance - Loss Ratio (%), 2009-2013
      • Table Bangladeshi Life Insurance - Loss Ratio (%), 2013-2018
      • Table Bangladeshi Life Insurance - Combined Ratio (%), 2009-2013
      • Table Bangladeshi Life Insurance - Combined Ratio (%), 2013-2018
      • Table Bangladeshi Life Insurance - Total Assets (BDT Billion), 2009-2013
      • Table Bangladeshi Life Insurance - Total Assets (BDT Billion), 2013-2018
      • Table Bangladeshi Life Insurance - Retentions (BDT Million), 2009-2013
      • Table Bangladeshi Life Insurance - Retentions (BDT Million), 2013-2018
    • Non-Life Insurance
      • Table Bangladeshi Non-Life Insurance - Gross Written Premium by Category (BDT Billion), 2009-2013
      • Table Bangladeshi Non-Life Insurance - Gross Written Premium by Category (US$ Million), 2009-2013
      • Table Bangladeshi Non-Life Insurance - Gross Written Premium by Category (BDT Billion), 2013-2018
      • Table Bangladeshi Non-Life Insurance - Gross Written Premium by Category (US$ Million), 2013-2018
      • Table Bangladeshi Non-Life Insurance - Direct Written Premium by Category (BDT Billion), 2009-2013
      • Table Bangladeshi Non-Life Insurance - Direct Written Premium by Category (US$ Million), 2009-2013
      • Table Bangladeshi Non-Life Insurance - Direct Written Premium by Category (BDT Billion), 2013-2018
      • Table Bangladeshi Non-Life Insurance - Direct Written Premium by Category (US$ Million), 2013-2018
      • Table Bangladeshi Non-Life Insurance - Paid Claims (BDT Billion), 2009-2013
      • Table Bangladeshi Non-Life Insurance - Paid Claims (BDT Billion), 2013-2018
      • Table Bangladeshi Non-Life Insurance - Incurred Loss (BDT Billion), 2009-2013
      • Table Bangladeshi Non-Life Insurance - Incurred Loss (BDT Billion), 2013-2018
      • Table Bangladeshi Non-Life Insurance - Loss Ratio (%), 2009-2013
      • Table Bangladeshi Non-Life Insurance - Loss Ratio (%), 2013-2018
      • Table Bangladeshi Non-Life Insurance - Combined Ratio (%), 2009-2013
      • Table Bangladeshi Non-Life Insurance - Combined Ratio (%), 2013-2018
      • Table Bangladeshi Non-Life Insurance - Total Assets (BDT Billion), 2009-2013
      • Table Bangladeshi Non-Life Insurance - Total Assets (BDT Billion), 2013-2018
      • Table Bangladeshi Non-Life Insurance - Retentions (BDT Billion), 2009-2013
      • Table Bangladeshi Non-Life Insurance - Retentions (BDT Billion), 2013-2018
      • Property insurance
        • Table Bangladeshi Property Insurance - Gross Written Premium (BDT Billion), 2009-2013
        • Table Bangladeshi Property Insurance - Gross Written Premium (BDT Billion), 2013-2018
      • Motor insurance
        • Table Bangladeshi Motor Insurance - Gross Written Premium (BDT Billion), 2009-2013
        • Table Bangladeshi Motor Insurance - Gross Written Premium (BDT Billion), 2013-2018
      • Liability insurance
        • Table Bangladeshi Liability Insurance - Gross Written Premium (BDT Million), 2009-2013
        • Table Bangladeshi Liability Insurance - Gross Written Premium (BDT Million), 2013-2018
      • Marine, aviation and transit insurance
        • Table Bangladeshi Marine, Aviation and Transit Insurance - Gross Written Premium (BDT Billion), 2009-2013
        • Table Bangladeshi Marine, Aviation and Transit Insurance - Gross Written Premium (BDT Billion), 2013-2018
    • Personal Accident and Health Insurance
      • Table Bangladeshi Personal accident and health Insurance - Gross Written Premium (BDT Billion), 2009-2013
      • Table Bangladeshi Personal Accident and Health Insurance - Gross Written Premium (BDT Billion), 2013-2018
      • Table Bangladeshi Personal Accident And Health Insurance - Direct Written Premium (BDT Billion), 2009-2013
      • Table Bangladeshi Personal Accident and Health Insurance - Direct Written Premium (BDT Billion), 2013-2018
      • Table Bangladeshi Personal Accident and Health Insurance - Earned Premium (BDT Billion), 2009-2013
      • Table Bangladeshi Personal Accident and Health Insurance - Earned Premium (BDT Million), 2013-2018
      • Table Bangladeshi Personal Accident and Health Insurance - Paid Claim (BDT Million), 2009-2013
      • Table Bangladeshi Personal Accident and Health Insurance - Paid Claim (BDT Million), 2013-2018
      • Table Bangladeshi Personal Accident and Health Insurance - Incurred Loss (BDT Million), 2009-2013
      • Table Bangladeshi Personal Accident and Health Insurance - Incurred Loss (BDT Million), 2013-2018
      • Table Bangladeshi Personal Accident and Health Insurance - Loss Ratio (%), 2009-2013
      • Table Bangladeshi Personal Accident and Health Insurance - Loss Ratio (%), 2013-2018
      • Table Bangladeshi Personal Accident and Health Insurance - Combined Ratio (%), 2009-2013
      • Table Bangladeshi Personal Accident and Health Insurance - Combined Ratio (%), 2013-2018
      • Table Bangladeshi Personal Accident and Health Insurance - Total Assets (BDT Billion), 2009-2013
      • Table Bangladeshi Personal Accident and Health Insurance - Total Assets (BDT Billion), 2013-2018
      • Table Bangladeshi Personal Accident and Health Insurance - Retentions (BDT Billion), 2009-2013
      • Table Bangladeshi Personal Accident and Health Insurance - Retentions (BDT Million), 2013-2018
    • Reinsurance
      • Table Bangladeshi Reinsurance - Ceded by Insurance Segment (BDT Million), 2009-2013
      • Table Bangladeshi Reinsurance - Ceded by Insurance Segment (US$ Million), 2009-2013
      • Table Bangladeshi Reinsurance - Ceded by Insurance Segment (BDT Million), 2013-2018
      • Table Bangladeshi Reinsurance - Ceded by Insurance Segment (US$ Million), 2013-2018
      • Table Bangladeshi Life Insurance - Percentage of Reinsurance Ceded (%), 2009-2013
      • Table Bangladeshi Life Insurance - Percentage of Reinsurance Ceded (%), 2013-2018
      • Table Bangladeshi Non-Life Insurance - Percentage of Reinsurance Ceded (%), 2009-2013
      • Table Bangladeshi Non-Life Insurance - Percentage of Reinsurance Ceded (%), 2013-2018
      • Table Bangladeshi Personal Accident and Health Insurance - Percentage of Reinsurance Ceded (%), 2009-2013
      • Table Bangladeshi Personal Accident and Health Insurance - Percentage of Reinsurance Ceded (%), 2013-2018
  • Governance, Risk and Compliance
    • Legislation Overview and Historical Evolution
    • Latest Changes in Regulations
    • Legislation and Market Practice by Type of Insurance
      • Life insurance
        • Table Bangladesh - Life Insurance Regulatory Framework
        • Table Bangladesh - Intermediary Remuneration for Individual Life Insurance Policies
        • Table Bangladesh - Intermediary Remuneration for Accident and Health and Term Life Insurance Policies
        • Table Bangladesh - Intermediary Remuneration for Individual Life Single-Premium Policies
      • Property insurance
        • Table Bangladesh - Property Insurance Regulatory Framework
      • Motor insurance
        • Table Bangladesh - Motor Insurance Regulatory Framework
      • Liability insurance
        • Table Bangladesh - Liability Insurance Regulatory Framework
      • Marine, aviation and transit insurance
      • Personal accident and health insurance
    • Compulsory Insurance
      • Motor third-party liability insurance
      • Workmen's compensation insurance
    • Supervision and Control
      • International Association of Insurance Supervisors
      • Insurance Development and Regulatory Authority
      • Bangladesh Insurance Association
    • Non-Admitted Insurance Regulations
      • Overview
      • Intermediaries
      • Market practices
      • Fines and penalties
    • Company Registration and Operations
      • Types of insurance organization
      • Establishing a local company
      • Foreign ownership
      • Types of license
      • Capital requirements
      • Solvency margins
      • Reserve requirements
      • Investment regulations
      • Statutory return requirements
      • Fee structure
    • Taxation
      • Insurance premium or policy taxation
      • Withholding taxes on premium paid overseas
      • Corporate tax
        • Table Bangladesh - Corporate Tax Rates for the Financial Year 2015
      • VAT
      • Captives
    • Legal System
      • Introduction
      • Access to court
      • Alternative dispute resolution (ADR)
  • Competitive Landscape
    • Overview
      • Table Bangladeshi Insurance Companies, 2013
      • Table Bangladeshi Insurance Industry - Leading Companies' Market Shares, 2013
    • Leading Companies
      • Jiban Bima Corporation - company overview
        • Table Jiban Bima Corporation, Main Products
        • Table Jiban Bima Corporation, Key Employees
      • Sadharan Bima Corporation - company overview
        • Table Sadharan Bima Corporation, Main Products
        • Table Sadharan Bima Corporation, Key Employees
      • Green Delta Insurance Co. Ltd - company overview
        • Table Green Delta Insurance Co. Ltd, Main Products
        • Table Green Delta Insurance Co. Ltd, Key Employees
      • MetLife Insurance Co. Ltd - company overview
        • Table MetLife Insurance Co. Ltd, Main Products
      • National Life Insurance Co. Ltd - company overview
        • Table National Life Insurance Co. Ltd, Main Products
        • Table National Life Insurance Co. Ltd, Key Employees
  • Economic Indicators
    • GDP at Constant Prices (US$)
    • GDP at Current Prices (US$)
    • GDP per Capita at Current Prices (US$)
    • Inflation
    • Life Expectancy
    • Labor Force
    • Unemployment Rate
    • Total Number of Internet Users
    • Rural and Urban Populations
    • Total Population
  • Appendix
    • Methodology
    • Contact Timetric
    • About Timetric
    • Timetric's Services
    • Disclaimer

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