Thailand Insurance Sector Report 2020/2021

Thailand’s socioeconomic background is conducive to growth in the insurance sector. Years of robust economic growth have contributed to a rising middle-class. Thailand is also aging at a rapid pace, and the complex, evolving needs of the growing elderly population provides significant tailwinds for insurers. Finally, Thailand’s insurance penetration of 5.3% of GDP in 2018, is low in comparison to that in developed countries. This fortuitous confluence of industry dynamics attracts the presence of a significant number of insurers. At the end of 2018, there were 22 licensed life insurers and 58 general insurers in Thailand. The number of insurers has gradually declined as intense competitive rivalry has resulted in the exit of weaker players.

This report provides a complete and detailed analysis of the insurance sector for Thailand. EMIS Insights presents in-depth business intelligence in a standard format across countries and regions, providing a balanced mix between analysis and data.

What this report allows you to do:

• Understand the key elements at play in the insurance sector in Thailand
• Access forecasts for growth in the sector
• View key data on insurance premiums and claims in Thailand.
• Crystallise the forces both driving and restraining this sector in Thailand
• Assess market share for the life insurance, non-life and reinsurance sectors
• Ascertain Thailand’s position in the global sector
• Understand the competitive landscape and who the major players are
• View M&A activity and major deals
• Gain an understanding of the regulatory environment for the sector in Thailand
• Build a clear picture of trends and issues for sub-sectors (life insurance, non-life insurance, reinsurance) and for retail channels.

See below for a complete table of report contents: