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Axco's insurance market report provides expert analysis, market insight, company performance data and market statistics for the Thai non-life (property and casualty) market. The detailed report is produced following a visit to the country and interviews with industry professionals working in Thailand's insurance sector. Systematic updates are published throughout the cycle, to the latest developments in the Thailand non-life (P&C) market as well as trends by line of business. Axco analysts also report on Thailand'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 Thailand's insurance regulations and requirements, including vital compliance requirements such as if non admitted insurance is permitted in Thailand, 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 Thailand, 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 Thailand with local company premiums, market share and year on year growth, expense ratios and retentions by line of business.
The non-life insurance sector in Thailand is over-crowded, with 58 companies writing non-life business in 2017, the latest year for which detailed per-company statistics are available. The top five participants had a market share of 42.61% in that year, whilst 22 companies each wrote premium of less than THB 1bn (USD 31.43mn) and collectively had a market share of under 4%.
It is widely believed that there is a need for industry consolidation ....
This is a brief extract of information; more updated information may be available in the latest published report.