Asian Insurance Focus: Vietnam & Thailand.DUBLIN, Ireland -- Research and Markets (http://www.researchandmarkets.com/research/eb9933/asian_insurance_fo) has announced the addition of the "Asian Insurance Focus: Vietnam & Thailand" report to their offering. Globalization globalization Process by which the experience of everyday life, marked by the diffusion of commodities and ideas, is becoming standardized around the world. Factors that have contributed to globalization include increasingly sophisticated communications and transportation is the key source which is bringing about an "irreversible transformation" in the Asian insurance market. Asia is becoming an important growth engine for global insurers due to the changing socio-economic dynamics. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. a latest research report from HSBC HSBC Hongkong and Shanghai Banking Corporation HSBC Humane Society of Broward County (Florida) HSBC Humane Society of Bay County (Bay County, Michigan) , in order to be long-term winners, life insurance companies in Asia need to diversify their income streams such that at least 25% of earnings are sourced overseas, while maintaining a dominant position in the domestic market. Many Asian financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. companies have exceeded the overall growth rate for their domestic economies and are therefore looking to expand globally or invest their shares in new markets. Another trend predicted by PwC, was that intra-Asian trade would continue to increase, particularly as the West decreased its investment in this region. The increasing wealth and educational development in Asia, has built a good foundation for the development of financial services. Vietnam has become one of the fastest-growing economies in the world, averaging around 8% annual gross domestic product (GDP GDP (guanosine diphosphate): see guanine. ) growth from 1990 to 1997 and 6.5% from 1998-2003. GDP in the country rose 8.5 percent in 2007 and has increased by over 50 percent since 2001. From 2004 to 2007, GDP grew over 8% annually. Vietnam's inflation rate, as measured by the consumer price index, which stood at an annual rate of over 300% in 1987, was below 4% from 1997 (except in 1998 when it rose to 9.2%) until 2003. However, in 2004 the consumer price index increased to 9.5%, dropping in Dropping in is a skateboarding trick with which a skateboarder can start skating a half-pipe by dropping into it from the coping instead of starting from the bottom and pumping gradually for more speed. 2006 to 7.5%. It is due to these remarkable developments that Vietnam has caught the attention of foreign insurers looking for Looking for In the context of general equities, this describing a buy interest in which a dealer is asked to offer stock, often involving a capital commitment. Antithesis of in touch with. an alternative to the twin super economies of India and China. Thailand is the 2nd largest economy in Southeast Asia Southeast Asia, region of Asia (1990 est. pop. 442,500,000), c.1,740,000 sq mi (4,506,600 sq km), bounded roughly by the Indian subcontinent on the west, China on the north, and the Pacific Ocean on the east. , after Indonesia, a position it has held for many years. Thailand ranks midway in the wealth spread in South East Asia as its 4th richest nation per capita [Latin, By the heads or polls.] A term used in the Descent and Distribution of the estate of one who dies without a will. It means to share and share alike according to the number of individuals. , after Singapore, Brunei, and Malaysia. It is also an anchor economy for the neighbouring least developed countries of Laos, Burma, and Cambodia. Its economy is expected to grow by 4.2 % in 2007 from 5 % in 2006. The Thai economy in 2008 is forecasted to grow at 5.6% (in the forecasted range of 5.0-6.0%). Executive Summary: Market Performance: Between 2000 and 2007, Vietnamese life insurance sector increased from $51.12 million to $586.24 million, CAGR CAGR See: Compound Annual Growth Rate growth of 35.65% during this period. We forecast that the life insurance market in Vietnam would grow at a CAGR of 10.71% and an annual average growth rate of 13.21% between 2007 and 2011. From $596.24 million in 2007, the market will increase by approximately $388 million and reach $975.21 million by the end of 2011. Within a span of 7 years (2000-2007), Thai Insurance Sector has experienced a growth of 191% currently valuated at $9,434.72 million. We predict the overall market size will increase by 72.5% further and is expected to touch the highs of $13,012.75 million by 2011. Competitive Landscape: Some of the largest US, Japanese and French insurers focus exclusively on their home markets. However, multi-national groups who have 'international' businesses almost invariably in·var·i·a·ble adj. Not changing or subject to change; constant. in·var  i·a·bil have
operations in the Asia-Pacific region, if only because of the size and
growth potential of many of the national markets.
Under the Life Insurance Sector, AIG AIG addressee indicator group (US DoD) AIG American International Group, Inc AiG Answers in Genesis (religious group in defense of Scripture) AIG Artificial Intelligence Group AIG Australian Industry Group is the biggest in Asia, in terms of country presence and premiums. ING comes second by premiums. However, globally, Prudential tops the list, being the most dependent on the region. Among the non-life insurance cos., regional player Mitsui Sumitomo, leads the property and casualty side. Major Driving Factors: - Globalization - Deregulation Deregulation The reduction or elimination of government power in a particular industry, usually enacted to create more competition within the industry. Notes: Traditional areas that have been deregulated are the telephone and airline industries. which is opening up the markets - Opening up of insurance market for foreign investments - Cheaper and more effective distribution channels - Increasing foreign direct investments - Vietnam's entry into the World Trade Organisation (WTO See World Trade Organization. ) - Ongoing industry consolidation - Increment in the policy holder firms - Boost in Merger and Acquisitions activities - Changing socio-economic dynamics - Market offering wider margins - Unique combination of size, age profile and growth prospects - Many more.. Major Issues, Trends and Opportunities - Lack of good quality, high yield long term investments in local currency - Limited availability of products and its limited outreach - Local players lack both hard and soft capacity to be competitive - Limited understanding of products - Continuous increment in intra-Asian trade - Need for diversification in the income streams - Chance to compete directly with financial services companies - Focus on paying out more in claims - Drastic increment in marine and cargo insurance sectors - Developments in countries, who were closely regulated by their government - Lack of proper agent quality - Change in the distribution method - Difficulties in building networks and brands - Risk management concerns in insurance companies - Global Expansion - Transformation in the organizational system to win customer loyalty - Weak equity markets - Impact of sub-prime - Regulatory and market obstacles in the emerging markets Topics covered in the report - Overview of the Asian Insurance Sector - Trends analysis of the Asian economy - Asia's economic presence as compared to other countries - Economic performance of Vietnam - Past and present scenario of Vietnamese Insurance Market & Future Outlook - Driving factors for Vietnamese Insurance Market - Trend analysis of Vietnamese economy & macroeconomic mac·ro·ec·o·nom·ics n. (used with a sing. verb) The study of the overall aspects and workings of a national economy, such as income, output, and the interrelationship among diverse economic sectors. factors contributing to the growth of the sector - Government strategic initiatives to strengthen Insurance Market - Competitive Landscape & Market Share of foreign and domestic players - Company profiles of top players - Thai economy, its performance, future outlook for 2008-09 - Government's economic policies, macroeconomic factors, trends and analysis - Market performance and forecast for Thai Insurance Sector between 2000, 2007 and 2011 - Driving factors for Thai Insurance Market - Major Trends analysis of the market - Competitive landscape & market share of companies in life and non-life insurance sector - Company profiles of top players in life and non-life insurance sector Key Topics Covered: SECTION I: INSURANCE - AN OVERVIEW 1. INSURANCE - AN INTRODUCTION SECTION II: ASIAN INSURANCE SECTOR 1. MARKET OVERVIEW 2. MAJOR ISSUES, TRENDS AND OPPORTUNITIES 3. PORTER'S 5 FORCES Porter's 5 Forces Named after Michael E. Porter, this model identifies and analyzes 5 competitive forces that shape every industry, and helps determine an industry's weaknesses and strengths. ANALYSIS 4. COMPETITIVE LANDSCAPE SECTION III: VIETNAM INSURANCE SECTOR 1. VIETNAM 2. INSURANCE SECTOR SECTION IV: THAILAND INSURANCE SECTOR 1. THAILAND 2. THAI INSURANCE SECTOR Companies Mentioned: - ACE Life Insurance Co., Ltd. - AIG General Insurance (Vietnam) Company Limited - Bao Viet Holdings - Bao Minh - Groupama/GAN - Nipponkoa Insurance Co., Ltd. - Prudential Vietnam Assurance - Petrolimex Joint Stock Insurance Company (PJICO) - Petrovietnam Insurance Company (PVIC PVIC Ponte Vedra Inn & Club ) - QBE Insurance (Vietnam) Company Limited - American International Assurance American International Assurance known as AIA (美國友邦保險) is a famous insurance company based in Hong Kong. It has offices in Asia-Pacific region including China, Australia, New Zealand, Japan, India, Malaysia, South Korea, Thailand and company (AIA AIA - Application Integration Architecture ), Thailand - ACE INA Ina (ē`nä), city (1990 pop. 60,062), Nagano prefecture, central Honshu, Japan, on the Tenryu River. It is an agricultural and industrial center with a famous agricultural school. Overseas Insurance Company Limited - Ayudhya Insurance Public Company Limited - Ayudhya Allianz C.P. Life Public Company Limited - Bangkok Insurance Public Company Limited - Bangkok Union Insurance - Charan Insurance - Deves Insurance - ING Life Limited - Indara Insurance - Manulife Insurance (Thailand) Public Company Limited - MSIG MSIG Mitsui Sumitomo Insurance Group MSIG Messenger Status Image Generator MSIG Medical Student Informatics Group (University of Utah School of Medicine) MSIG Modeling and Simulation Integration Group MSIG Message Title Insurance - QBE Insurance (Thailand) Company Limited - Sri Muang Insurance - The Viriyah Insurance Co., Ltd. For more information visit http://www.researchandmarkets.com/research/eb9933/asian_insurance_fo |
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