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

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

Synopsis

Timetric’s ' The Insurance Industry in Macau, Key Trends and Opportunities to 2018' report provides detailed analysis of the market trends, drivers, challenges in the Macanese 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 Macanese insurance industry, including:

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

This report provides a comprehensive analysis of the insurance industry in Macau:
  • It provides historical values for the Macanese 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 Macanese 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 Macau 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 Macanese insurance industry and each segment and category within it.
  • Understand the demand-side dynamics, key market trends and growth opportunities in the Macanese insurance industry.
  • Assess the competitive dynamics in the Macanese insurance industry.
  • Identify the growth opportunities and market dynamics in key segments.
  • Gain insights into key regulations governing the Macanese insurance industry and their impact on companies and the industry's future.
Key Highlights
  • The Macanese insurance industry grew in terms of gross written premium recording a CAGR of 20.4% during the review period.
  • The country’s aging population and high life expectancy supported life insurance’s growth.
  • The life segment accounted for 72.7% of the industry’s gross written premium in 2013.
  • The non-life segment grew at a CAGR of 20.1% during the review period.
  • Macanese insurance penetration stood at 1.6% in 2013, compared to the Asian average of 6.0%.
  • The industry is set to grow owing to its booming gambling industry, developments in tourism and infrastructural growth.
  • The insurance industry in Macau is regulated by the Monetary Authority of Macao (Autoridade Monetaria e Cambial de Macau – AMCM).
  • There were 23 licensed insurance companies operating in the country, in 2013.


  • Executive Summary
  • Introduction
    • What is this Report About?
    • Definitions
      • Table Insurance Industry Definitions
    • Methodology
  • Macanese Insurance Industry Overview
    • Macanese Insurance Industry
      • Table Macanese Insurance - Gross Written Premium by Segment (MOP Billion), 2009-2013
      • Table Macanese Insurance - Gross Written Premium by Segment (US$ Million), 2009-2013
      • Table Macanese Insurance - Gross Written Premium by Segment (MOP Billion), 2013-2018
      • Table Macanese Insurance - Gross Written Premium by Segment (US$ Million), 2013-2018
      • Table Macanese Insurance - Segmentation by Gross Written Premium (Percentage Share), 2009-2018
      • Table Macanese Insurance - Direct Written Premium by Segment (MOP Billion), 2009-2013
      • Table Macanese Insurance - Direct Written Premium by Segment (US$ Million), 2009-2013
      • Table Macanese Insurance - Direct Written Premium by Segment (MOP Billion), 2013-2018
      • Table Macanese Insurance - Direct Written Premium by Segment (US$ Million), 2013-2018
      • Table Macanese Insurance - Segmentation by Direct Written Premium (Percentage Share), 2009-2018
    • Key Industry Trends and Drivers
    • Challenges
  • Industry Segmentation
    • Life Insurance
      • Table Macanese Life Insurance - Gross Written Premium (MOP Billion), 2009-2013
      • Table Macanese Life Insurance - Gross Written Premium (MOP Billion), 2013-2018
      • Table Macanese Life Insurance - Direct Written Premium (MOP Billion), 2009-2013
      • Table Macanese Life Insurance - Direct Written Premium (MOP Billion), 2013-2018
      • Table Macanese Life Insurance - Earned Premium (MOP Billion), 2009-2013
      • Table Macanese Life Insurance - Earned Premium (MOP Billion), 2013-2018
      • Table Macanese Life Insurance - Paid Claims (MOP Billion), 2009-2013
      • Table Macanese Life Insurance - Paid Claims (MOP Billion), 2013-2018
      • Table Macanese Life Insurance - Incurred Loss (MOP Billion), 2009-2013
      • Table Macanese Life Insurance - Incurred Loss (MOP Billion), 2013-2018
      • Table Macanese Life Insurance - Loss Ratio (%), 2009-2013
      • Table Macanese Life Insurance - Loss Ratio (%), 2013-2018
      • Table Macanese Life Insurance - Combined Ratio (%), 2009-2013
      • Table Macanese Life Insurance - Combined Ratio (%), 2013-2018
      • Table Macanese Life Insurance - Total Assets (MOP Billion), 2009-2013
      • Table Macanese Life Insurance - Total Assets (MOP Billion), 2013-2018
      • Table Macanese Life Insurance - Retentions (MOP Billion), 2009-2013
      • Table Macanese Life Insurance - Retentions (MOP Billion), 2013-2018
    • Non-Life Insurance
      • Table Macanese Non-Life Insurance - Gross Written Premium by Category (MOP Million), 2009-2013
      • Table Macanese Non-Life Insurance - Gross Written Premium by Category (US$ Million), 2009-2013
      • Table Macanese Non-Life Insurance - Gross Written Premium by Category (MOP Million), 2013-2018
      • Table Macanese Non-Life Insurance - Gross Written Premium by Category (US$ Million), 2013-2018
      • Table Macanese Non-Life Insurance - Direct Written Premium by Category (MOP Million), 2009-2013
      • Table Macanese Non-Life Insurance - Direct Written Premium by Category (US$ Million), 2009-2013
      • Table Macanese Non-Life Insurance - Direct Written Premium by Category (MOP Million), 2013-2018
      • Table Macanese Non-Life Insurance - Direct Written Premium by Category (US$ Million), 2013-2018
      • Table Macanese Non-Life Insurance - Paid Claims (MOP Million), 2009-2013
      • Table Macanese Non-Life Insurance - Paid Claims (MOP Million), 2013-2018
      • Table Macanese Non-Life Insurance - Incurred Loss (MOP Million), 2009-2013
      • Table Macanese Non-Life Insurance - Incurred Loss (MOP Million), 2013-2018
      • Table Macanese Non-Life Insurance - Loss Ratio (%), 2009-2013
      • Table Macanese Non-Life Insurance - Loss Ratio (%), 2013-2018
      • Table Macanese Non-Life Insurance - Combined Ratio (%), 2009-2013
      • Table Macanese Non-Life Insurance - Combined Ratio (%), 2013-2018
      • Table Macanese Non-Life Insurance - Total Assets (MOP Billion), 2009-2013
      • Table Macanese Non-Life Insurance - Total Assets (MOP Billion), 2013-2018
      • Table Macanese Non-Life Insurance - Retentions (MOP Billion), 2009-2013
      • Table Macanese Non-Life Insurance - Retentions (MOP Billion), 2013-2018
      • Property insurance
        • Table Macanese Property Insurance - Gross Written Premium (MOP Billion), 2009-2013
        • Table Macanese Property Insurance - Gross Written Premium (MOP Billion), 2013-2018
      • Motor insurance
        • Table Macanese Motor Insurance - Gross Written Premium (MOP Million), 2009-2013
        • Table Macanese Motor Insurance - Gross Written Premium (MOP Million), 2013-2018
      • Liability insurance
        • Table Macanese Liability Insurance - Gross Written Premium (MOP Million), 2009-2013
        • Table Macanese Liability Insurance - Gross Written Premium (MOP Billion), 2013-2018
      • Marine, aviation and transit insurance
        • Table Macanese Marine, Aviation and Transit Insurance - Gross Written Premium (MOP Million), 2009-2013
        • Table Macanese Marine, Aviation and Transit Insurance - Gross Written Premium (MOP Million), 2013-2018
    • Personal Accident and Health Insurance
      • Table Macanese Personal Accident and Health Insurance - Gross Written Premium by Category (MOP Million), 2009-2013
      • Table Macanese Personal Accident and Health Insurance - Gross Written Premium by Category (US$ Million), 2009-2013
      • Table Macanese Personal Accident and Health Insurance - Gross Written Premium by Category (MOP Million), 2013-2018
      • Table Macanese Personal Accident and Health Insurance - Gross Written Premium by Category (US$ Million), 2013-2018
      • Table Macanese Personal Accident and Health Insurance - Direct Written Premium by Category (MOP Million), 2009-2013
      • Table Macanese Personal Accident and Health Insurance - Direct Written Premium by Category (US$ Million), 2009-2013
      • Table Macanese Personal Accident and Health Insurance - Direct Written Premium by Category (MOP Million), 2013-2018
      • Table Macanese Personal Accident and Health Insurance - Direct Written Premium by Category (US$ Million), 2013-2018
      • Table Macanese Personal Accident and Health Insurance - Paid Claim (MOP Million), 2009-2013
      • Table Macanese Personal Accident and Health Insurance - Paid Claim (MOP Million), 2013-2018
      • Table Macanese Personal Accident and Health Insurance - Incurred Loss (MOP Million), 2009-2013
      • Table Macanese Personal Accident and Health Insurance - Incurred Loss (MOP Million), 2013-2018
      • Table Macanese Personal Accident and Health Insurance - Loss Ratio (%), 2009-2013
      • Table Macanese Personal Accident and Health Insurance - Loss Ratio (%), 2013-2018
      • Table Macanese Personal Accident and Health Insurance - Combined Ratio (%), 2009-2013
      • Table Macanese Personal Accident and Health Insurance - Combined Ratio (%), 2013-2018
      • Table Macanese Personal Accident and Health Insurance - Total Assets (MOP Billion), 2009-2013
      • Table Macanese Personal Accident and Health Insurance - Total Assets (MOP Billion), 2013-2018
      • Table Macanese Personal Accident and Health Insurance - Retentions (MOP Million), 2009-2013
      • Table Macanese Personal Accident and Health Insurance - Retentions (MOP Million), 2013-2018
      • Personal accident insurance
        • Table Macanese Personal Accident Insurance - Gross Written Premium (MOP Million), 2009-2013
        • Table Macanese Personal Accident Insurance - Gross Written Premium (MOP Million), 2013-2018
      • Health insurance
        • Table Macanese Health Insurance - Gross Written Premium (MOP Million), 2009-2013
        • Table Macanese Health Insurance - Gross Written Premium (MOP Million), 2013-2018
      • Travel insurance
        • Table Macanese Travel Insurance - Gross Written Premium (MOP Million), 2009-2013
        • Table Macanese Travel Insurance - Gross Written Premium (MOP Million), 2013-2018
    • Reinsurance
      • Table Macanese Reinsurance - Ceded by Insurance Segment (MOP Million), 2009-2013
      • Table Macanese Reinsurance - Ceded by Insurance Segment (US$ Million), 2009-2013
      • Table Macanese Reinsurance - Ceded by Insurance Segment (MOP Million), 2013-2018
      • Table Macanese Reinsurance - Ceded by Insurance Segment (US$ Million), 2013-2018
      • Table Macanese Life Insurance - Percentage of Reinsurance Ceded (%), 2009-2013
      • Table Macanese Life Insurance - Percentage of Reinsurance Ceded (%),2013-2018
      • Table Macanese Non-Life Insurance - Percentage of Reinsurance Ceded (%), 2009-2013
      • Table Macanese Non-Life Insurance - Percentage of Reinsurance Ceded (%), 2013-2018
      • Table Macanese Personal Accident and Health Insurance - Percentage of Reinsurance Ceded (%), 2009-2013
      • Table Macanese Personal Accident and Health Insurance - Percentage of Reinsurance Ceded (%), 2013-2018
  • Governance, Risk and Compliance
    • Legislation Overview and Historical Evolution
    • Latest Changes in Regulations
    • Regulations by Type of Insurance
      • Life insurance regulatory regulations
        • Table Macau - Life Insurance Regulatory Framework
      • Property insurance regulations
        • Table Macau - Property Insurance Regulatory Framework
      • Motor insurance regulations
        • Table Macau - Motor Insurance Regulatory Framework
        • Table Macau - No-Claims Discount
      • Liability insurance
        • Table Macau - Liability Insurance Regulatory Framework
      • Marine, aviation and transit insurance regulations
        • Table Macau - Maximum Liability of Aircraft Operators for Third-party Damages
      • Personal accident and health insurance regulations
    • Compulsory Insurance
      • Motor third-party liability insurance
        • Table Macau - Liability Limits for Motor Third-Party Liability Insurance
      • Employees' compensation insurance
        • Table Macau - Limits for Employees' Compensation Insurance
      • Public liability insurance in relation to the fixing of propaganda and publicity material
      • Professional liability insurance for lawyers
    • Supervision and Control
      • International Association of Insurance Supervisors
      • Monetary Authority of Macau
    • 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
        • Table Macau - Capital Requirement of Macanese Insurers and Reinsurers
      • Solvency margins
        • Table Macau - Margin of Solvency for Non-Life Insurers
      • Reserve requirements
      • Investment regulations
        • Table Macau - Investment Regulations for Insurers and Reinsurers
      • Statutory return requirements
      • Fee structure
        • Table Macau - Annual Registration Fees for Insurance Intermediaries
    • Taxation
      • Insurance premium or policy taxation
      • Withholding taxes on premium paid overseas
      • Corporate tax
        • Table Macau - Corporate Income Tax Rates 2015
        • Table Macau - Other Corporate Taxes
      • VAT
      • Captives
    • Legal System
      • Introduction
      • Access to court
  • Competitive Landscape
    • Overview
      • Table Macanese Life Insurance - Segment Shares, 2013
      • Table Macanese Non-Life Insurance - Segment Shares, 2013
    • Leading Companies
      • AIA International Ltd - company overview
        • Table AIA International Ltd, Main Products
        • Table AIA International Ltd, Key Employees
      • China Life Insurance Company Ltd - company overview
        • Table China Life Insurance Company Ltd, Main Products
        • Table China Life Insurance Company Ltd, Key Employees
      • Macau Insurance Company Ltd - company overview
        • Table Macau Insurance Company Ltd, Main Products
        • Table Macau Life Insurance Company Ltd, Key Employees
      • China Taiping Insurance Company Ltd - company overview
        • Table China Taiping Insurance Company Ltd, Main Products
        • Table China Taiping Insurance Company Ltd, Key Employees
      • Luen Fung Hang Insurance Company Ltd - company overview
        • Table Luen Fung Hang Insurance Company Ltd, Main Products
  • 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
    • Total Number of Internet Users
    • Age Distribution
    • Total Population
  • Appendix
    • Methodology
    • Contact Timetric
    • About Timetric
    • Timetric's Services
    • Disclaimer

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