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Axco's insurance market report provides expert analysis, market insight, company performance data and market statistics for the Bruneian non-life (property and casualty) market. The detailed report is produced following a visit to the country and interviews with industry professionals working in Brunei's insurance sector. Systematic updates are published throughout the cycle, to the latest developments in the Bruneian non-life (P&C) market as well as trends by line of business. Axco analysts also report on Brunei's economic factors, the local political situation, and sections on climate, operational, and security risks. The report is suitable for insurers, reinsurance companies, brokers and insurance buyers.
The report describes Brunei's insurance regulations and requirements, including vital compliance requirements such as if non admitted insurance is permitted in Brunei, what are the local rules on licensing and detailing any relevant taxes and charges for the insurer and the insured.
View detailed analysis of local lines of business and sub-classes such as natural hazards, property, construction and machinery breakdown, motor, workers compensation & employers' liability and liability. The report lists the insurance companies operating in Brunei, their market share and investigates how much premium is written through the sector’s different distribution channels.
Statistics include five years of non-life (P&C) market performance indicators, including gross written premiums, premium growth, penetration, profitability ratios, and premium by line of business. Company statistics show who are the leading non-life insurance companies in Brunei with local company premiums, market share and year on year growth, expense ratios and retentions by line of business.
Brunei's economy remains based on energy and the depressed price of oil has a direct negative effect on that sector. This, in turn, impacts on the government's revenues and has a knock-on effect on local companies and individuals, resulting in little or no growth of the insurance exposure base.
Whilst the COVID-19 pandemic has had only a minor effect on the local insurance market ....
This is a brief extract of information; more updated information may be available in the latest published report