1. The Insurance Industry in Thailand, Key Trends and
Opportunities to 2016
Report Details:
Published:October 2012
No. of Pages: 137
Price: Single User License – US$1950
Synopsis
The report provides in depth market analysis, information and insights into the insurance market in
Thailand, including:
•The Thai insurance market’s growth prospects by insurance segments and sub-segments
•The competitive landscape in the Thai insurance market
•The current trends and drivers of the Thai insurance market
•The challenges facing the Thai insurance market
•The regulatory framework of the Thai insurance market
Executive summary
The Thai insurance market has recorded an impressive growth during the review period (2007-
2011). Government promotional measures (such as a first-time buyer program for homes and
cars), improvement in sales channels (such as the growth of telemarketing) and increased
awareness for insurance products supported this growth. A rise in foreign investments in the
industry over the years has increased competition in the market. There has also been a significant
rise in new product offerings such as micro insurance being developed to cater to growing and
changing consumer needs.
Scope
This report provides a comprehensive analysis of the insurance market in Thailand:
•It provides historical values for the Thai insurance market for the report’s 2007–2011 review
period and forecast figures for the 2012–2016 forecast period
•It offers a detailed analysis of the key segments and sub-segments in the Thai insurance market,
along with market forecasts until 2016
•It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio,
commissions and expenses, combined ratio, frauds and crimes, total assets, total investment
income and retentions
•It profiles the top insurance companies in Thailand and outlines the key regulations affecting them
Key highlights
•The Thai insurance industry is highly concentrated due to the presence of foreign insurers with
large market shares.

2. •The ten leading insurance companies in Thailand accounted for 90.3% of the total written
premium in 2011.
•The American International Assurance Company is the leading insurance company in Thailand
with a market share of 20.2% in 2011.
•The presence of foreign insurers increased competitiveness in the industry.
•Growth in compulsory third-party motor insurance is a key driver leading to expansion in the
motor insurance industry category in the country.
Reasons to buy
•Make strategic business decisions using in depth historic and forecast market data related to the
Thai insurance market and each sector within it
•Understand the demand-side dynamics, key market trends and growth opportunities within the
Thai insurance market
•Assess the competitive dynamics in the Thai insurance market, along with the reinsurance
segment
•Identify the growth opportunities and market dynamics within key product categories
•Gain insights into key regulations governing the Thai insurance market and its impact on
companies and the market's future
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to-2016.html
Major points covered in Table of Contents of this report include
Table of Contents
1 Executive Summary
2 Introduction
2.1. What is this Report About?
2.2. Definitions
2.3. Methodology
3 Thai Insurance Industry Overview
3.1. Industry Overview
3.2. Thai Insurance Industry – Market Size, 2007–2016
3.3. Key Industry Trends and Drivers
3.4. Challenges
3.5. Regulation
4 Market Segmentation
4.1. Life Insurance Growth Prospects by Category
4.1.1. Individual life insurance category
4.1.2. Others insurance category
4.1.3. Group life insurance category
4.2. Non-Life Insurance Growth Prospects by Category
4.2.1. Property insurance category

3. 4.2.2. Motor insurance category
4.2.3. Liability insurance category
4.2.4. Marine, aviation and transit insurance category
4.3. Personal Accident and Health Insurance Growth Prospects by Category
4.3.1. Personal accident insurance category
4.3.2. Health insurance category
4.4. Reinsurance Market Size by Insurance Market, 2007–2016
5 Competitive Landscape
5.1. Overview
5.2. Leading Companies
5.2.1. AIA Insurance Thailand – company overview
5.2.2. The Navakij Insurance Public Company Limited – company overview
5.2.3. AXA Insurance Public Company Limited – company overview
5.2.4. Ayudhya Allianz C.P. Life Public Company Limited – company overview
5.2.5. QBE Insurance (Thailand) Company Limited – company overview
5.2.6. Allianz Global Assistance Thailand – company overview
5.2.7. Premier International Healthcare Ltd – company overview
5.2.8. Thai Life Insurance Co., Ltd – company overview
6 Macroeconomic Indicators
6.1. GDP at constant prices (US dollar)
6.2. GDP per capita at constant prices (US dollar)
6.3. GDP at current prices (US dollar)
6.4. Construction Output at Current Prices (US$ Billion)
6.5. Construction Net Output at Current Prices as a Percentage of GDP
6.6. Arable Land
6.7. Exports as a Percentage of GDP
6.8. Number of Air Passengers
6.9. Healthcare Expenditure Per-Capita
6.10. Employed Population
6.11. Annual Disposable Income
6.12. Annual Disposable Income Per Capita
6.13. Total Population
7 Appendix
7.1. Methodology
7.2. Contact Us
7.3. About Timetric
7.4. Disclaimer
List of Tables
Table 1: Insurance Industry Definitions
Table 2: Thai Insurance Overall Written Premium by Segment (THB Billion), 2007–2011
Table 3: Thai Insurance Overall Written Premium by Segment (US$ Billion), 2007–2011
Table 4: Thai Insurance Overall Written Premium by Segment (THB Billion), 2011–2016

4. Table 5: Thai Insurance Overall Written Premium by Segment (US$ Billion), 2011–2016
Table 6: Thai Insurance Segmentation (% Share), 2007–2016
Table 7: Thai Life Insurance Written Premium by Category (THB Billion), 2007–2011
Table 8: Thai Life Insurance Written Premium by Category (US$ Billion), 2007–2011
Table 9: Thai Life Insurance Written Premium by Category (THB Billion), 2011–2016
Table 10: Thai Life Insurance Written Premium by Category (US$ Billion), 2011–2016
Table 11: Thai Life Insurance – Paid Claims (THB Billion), 2007–2011
Table 12: Thai Life Insurance – Paid Claims (THB Billion), 2011–2016
Table 13: Thai Life Insurance – Incurred Loss (THB Billion), 2007–2011
Table 14: Thai Life Insurance – Incurred Loss (THB Billion), 2011–2016
Table 15: Thai Life Insurance – Loss Ratio (%), 2007–2011
Table 16: Thai Life Insurance – Loss Ratio (%), 2011–2016
Table 17: Thai Life Insurance – Combined Ratio (%), 2007–2011
Table 18: Thai Life Insurance – Combined Ratio (%), 2011–2016
Table 19: Thai Life Insurance – Total Assets (THB Billion), 2007–2011
Table 20: Thai Life Insurance – Total Assets (THB Billion), 2011–2016
Table 21: Thai Life Insurance – Total Investment Income (THB Billion), 2007–2011
Table 22: Thai Life Insurance – Total Investment Income (THB Billion), 2011–2016
Table 23: Thai Life Insurance – Total Retentions (THB Billion), 2007–2011
Table 24: Thai Life Insurance – Total Retentions (THB Billion), 2011–2016
Table 25: Thai Life Insurance – Investments (THB Billion), 2007–2011
Table 26: Thai Individual Life Insurance Category – Written Premium (THB Billion), 2007–2011
Table 27: Thai Individual Life Insurance Category – Written Premium (THB Billion), 2011–2016
Table 28: Thai Others Insurance Category – Written Premium (THB Billion), 2007–2011
Table 29: Thai Others Insurance Category – Written Premium (THB Billion), 2011–2016
Table 30: Thai Group Life Insurance Category – Written Premium (THB Billion), 2007–2011
Table 31: Thai Group Life Insurance Category – Written Premium (THB Billion), 2011–2016
Table 32: Thai Non-Life Insurance Written Premium by Category (THB Billion), 2007–2011
Table 33: Thai Non-Life Insurance Written Premium by Category (US$ Billion), 2007–2011
Table 34: Thai Non-Life Insurance Written Premium by Category (THB Billion), 2011–2016
Table 35: Thai Non-Life Insurance Written Premium by Category (US$ Billion), 2011–2016
Table 36: Thai Non-Life Insurance – Paid Claims (THB Billion), 2007–2011
Table 37: Thai Non-Life Insurance – Paid Claims (THB Billion), 2011–2016
Table 38: Thai Non-Life Insurance – Incurred Loss (THB Billion), 2007–2011
Table 39: Thai Non-Life Insurance – Incurred Loss (THB Billion), 2011–2016
Table 40: Thai Non-Life Insurance – Loss Ratio (%), 2007–2011
Table 41: Thai Non-Life Insurance – Loss Ratio (%), 2011–2016
Table 42: Thai Non-Life Insurance – Combined Ratio (%), 2007–2011
Table 43: Thai Non-Life Insurance – Combined Ratio (%), 2011–2016
Table 44: Thai Non-Life Insurance – Total Assets (THB Billion), 2007–2011
Table 45: Thai Non-Life Insurance – Total Assets (THB Billion), 2011–2016
Table 46: Thai Non-Life Insurance – Total Investment Income (THB Billion), 2007–2011

5. Table 47: Thai Non-Life Insurance – Total Investment Income (THB Billion), 2011–2016
Table 48: Thai Non-Life Insurance – Retentions (THB Billion), 2007–2011
Table 49: Thai Non-Life Insurance – Retentions (THB Billion), 2011–2016
Table 50: Thai Property Insurance Category – Written Premium (US$ Billion), 2007–2011
Table 51: Thai Property Insurance Category – Written Premium (THB Billion), 2011–2016
Table 52: Thai Motor Insurance Category – Written Premium (THB Billion), 2007–2011
Table 53: Thai Motor Insurance Category – Written Premium (THB Billion), 2011–2016
Table 54: Thai Liability Insurance Category – Written Premium (THB Billion), 2007–2011
Table 55: Thai Liability Insurance Category – Written Premium (THB Billion), 2011–2016
Table 56: Thai Marine, Aviation and Transit Insurance Category – Written Premium (THB Billion),
2007–2011
Table 57: Thai Marine, Aviation and Transit Insurance Category – Written Premium (THB Billion),
2011–2016
Table 58: Thai Personal Accident and Health Insurance Written Premium by Category (THB
Billion), 2007–2011
Table 59: Thai Personal Accident and Health Insurance Written Premium by Category (US$
Million), 2007–2011
Table 60: Thai Personal Accident and Health Insurance Written Premium by Category (THB
Billion), 2011–2016
Table 61: Thai Personal Accident and Health Insurance Written Premium by Category (US$
Million), 2011–2016
Table 62: Thai Personal Accident and Health Insurance Market – Paid Claims (THB Billion),
2007–2011
Table 63: Thai Personal Accident and Health Insurance – Paid Claims (THB Billion), 2011–2016
Table 64: Thai Personal Accident and Health Insurance – Incurred Loss (THB Billion), 2007–2011
Table 65: Thai Personal Accident and Health Insurance – Incurred Loss (THB Billion), 2011–2016
Table 66: Thai Personal Accident and Health Insurance – Loss Ratio (%), 2007–2011
Table 67: Thai Personal Accident and Health Insurance – Loss Ratio (%), 2011–2016
Table 68: Thai Personal Accident and Health Insurance – Combined Ratio (%), 2007–2011
Table 69: Thai Personal Accident and Health Insurance – Combined Ratio (%), 2011–2016
Table 70: Thai Personal Accident and Health Insurance – Total Assets (THB Billion), 2007–2011
Table 71: Thai Personal Accident and Health Insurance – Total Assets (THB Billion), 2011–2016
Table 72: Thai Personal Accident and Health Insurance – Total Investment Income (THB Billion),
2007–2011
Table 73: Thai Personal Accident and Health Insurance – Total Investment Income (THB Billion),
2011–2016
Table 74: Thai Personal Accident and Health Insurance – Retentions (THB Billion), 2007–2011
Table 75: Thai Personal Accident and Health Insurance – Retentions (THB Billion), 2011–2016
Table 76: Thai Personal Accident Insurance Category – Written Premium (THB Billion),
2007–2011
Table 77: Thai Personal Accident Insurance Category – Written Premium (THB Billion),
2011–2016

6. Table 78: Thai Health Insurance Category – Written Premium (THB Billion), 2007–2011
Table 79: Thai Health Insurance Category – Written Premium (THB Billion), 2011–2016
Table 80: Reinsurance Ceded by Insurance Market in Thailand (THB Billion), 2007–2011
Table 81: Reinsurance Ceded by Insurance Market in Thailand (US$ Billion), 2007–2011
Table 82: Reinsurance Ceded by Insurance Market in Thailand (THB Billion), 2011–2016
Table 83: Reinsurance Ceded by Insurance Market in Thailand (US$ Billion), 2011–2016
Table 84: Thai Life Insurance – Percentage of Reinsurance Ceded (%), 2007–2011
Table 85: Thai Life Insurance – Percentage of Reinsurance Ceded (%), 2011–2016
Table 86: Thai Non-Life Insurance – Percentage of Reinsurance Ceded (%), 2007–2011
Table 87: Thai Non-Life Insurance – Percentage of Reinsurance Ceded (%), 2011–2016
Table 88: Thai Personal Accident and Health Insurance – Percentage of Reinsurance Ceded (%),
2007–2011
Table 89: Thai Personal Accident and Health Insurance – Percentage of Reinsurance Ceded (%),
2011–2016
Table 90: Thai Insurance Industry – Market Shares, 2010
Table 91: AIA Insurance Thailand, Main Products
Table 92: AIA Insurance Thailand, Key Employees
Table 93: The Navakij Insurance Public Company, Main Products
Table 94: The Navakij Insurance Public Company, Key Employees
Table 95: AXA Insurance Public, Main Products
Table 96: AXA Insurance Public, Key Employees
Table 97: Ayudhya Allianz C.P. Life Public Company Limited, Main Products
Table 98: Ayudhya Allianz C.P. Life Public Company Limited, Key Employees
Table 99: QBE Insurance, Main Products
Table 100: QBE Insurance, Key Employees
Table 101: Allianz Global Assistance Thailand, Main Products
Table 102: Allianz Global Assistance Thailand, Key Employees
Table 103: Premier International Healthcare Ltd, Main Products
Table 104: Thai Life Insurance Co., Ltd, Main Products
Table 105: Thai Life Insurance Co., Ltd, Key Employees
List of Figures
Figure 1: Thai Insurance Overall Written Premium by Segment (THB Billion), 2007–2016
Figure 2: Thai Insurance Market Dynamics by Segment, 2007–2016
Figure 3: Thai Life Insurance Written Premium by Category (THB Billion), 2007–2016
Figure 4: Thai Life Insurance Written Premium by Category (% Share), 2011 and 2016
Figure 5: Thai Life Insurance Market Dynamics by Category, 2007–2016
Figure 6: Thai Life Insurance – Paid Claims (THB Billion), 2007–2011
Figure 7: Thai Life Insurance – Paid Claims (THB Billion), 2011–2016
Figure 8: Thai Life Insurance – Incurred Loss (THB Billion), 2007–2011
Figure 9: Thai Life Insurance – Incurred Loss (THB Billion), 2011–2016
Figure 10: Thai Life Insurance – Loss Ratio (%), 2007–2011
Figure 11: Thai Life Insurance – Loss Ratio (%), 2011–2016

7. Figure 12: Thai Life Insurance – Combined Ratio (%), 2007–2011
Figure 13: Thai Life Insurance – Combined Ratio (%), 2011–2016
Figure 14: Thai Life Insurance – Total Assets (THB Billion), 2007–2011
Figure 15: Thai Life Insurance – Total Assets (THB Billion), 2011–2016
Figure 16: Thai Life Insurance – Total Investment Income (THB Billion), 2007–2011
Figure 17: Thai Life Insurance – Total Investment Income (THB Billion), 2011–2016
Figure 18: Thai Life Insurance – Total Retentions (THB Billion), 2007–2011
Figure 19: Thai Life Insurance – Total Retentions (THB Billion), 2011–2016
Figure 20: Thai Life Insurance – Investments (THB Billion), 2007–2011
Figure 21: Thai Life Insurance Penetration (% of GDP), 2007–2011
Figure 22: Thai Life Insurance – Premium Per-capita (THB), 2007–2011
Figure 23: Thai Individual Life Insurance Category – Written Premium (THB Billion), 2007–2011
Figure 24: Thai Individual Life Insurance Category – Written Premium (THB Billion), 2011–2016
Figure 25: Thai Others Insurance Category – Written Premium (THB Billion), 2007–2011
Figure 26: Thai Others Insurance Category – Written Premium (THB Billion), 2011–2016
Figure 27: Thai Group Life Insurance Category – Written Premium (THB Billion), 2007–2011
Figure 28: Thai Group Life Insurance Category – Written Premium (THB Billion), 2011–2016
Figure 29: Thai Non-Life Insurance Written Premium by Category (THB Billion), 2007–2016
Figure 30: Thai Non-Life Insurance Written Premium by Category (% Share), 2011 and 2016
Figure 31: Thai Non-Life Insurance Market Dynamics by Category, 2007–2016
Figure 32: Thai Non-Life Insurance – Paid Claims by Category (THB Billion), 2007–2011
Figure 33: Thai Non-Life Insurance – Paid Claims (THB Billion), 2011–2016
Figure 34: Thai Non-Life Insurance – Incurred Loss (THB Billion), 2007–2011
Figure 35: Thai Non-Life Insurance – Incurred Loss by Category (THB Billion), 2011–2016
Figure 36: Thai Non-Life Insurance – Loss Ratio (%), 2007–2011
Figure 37: Thai Non-Life Insurance – Loss Ratio (%), 2011–2016
Figure 38: Thai Non-Life Insurance – Combined Ratio (%), 2007–2011
Figure 39: Thai Non-Life Insurance – Combined Ratio (%), 2011–2016
Figure 40: Thai Non-Life Insurance – Total Assets (THB Billion), 2007–2011
Figure 41: Thai Non-Life Insurance – Total Assets (THB Billion), 2011–2016
Figure 42: Thai Non-Life Insurance – Total Investment Income (THB Billion), 2007–2011
Figure 43: Thai Non-Life Insurance – Total Investment Income (THB Billion), 2011–2016
Figure 44: Thai Non-Life Insurance – Retentions (THB Billion), 2007–2011
Figure 45: Thai Non-Life Insurance – Retentions (US$ Billion), 2011–2016
Figure 46: Thai Non-Life Insurance – Investment (THB Billion), 2007–2011
Figure 47: Thai Non-Life Insurance Penetration (% of GDP), 2007–2011
Figure 48: Thai Non-Life Insurance – Premium Per-capita (THB), 2007–2011
Figure 49: Thai Property Insurance Category – Written Premium (US$ Billion), 2007–2011
Figure 50: Thai Property Insurance Category – Written Premium (THB Billion), 2011–2016
Figure 51: Thai Motor Insurance Category – Written Premium (THB Billion), 2007–2011
Figure 52: Thai Motor Insurance Category – Written Premium (THB Billion), 2011–2016
Figure 53: Thai Liability Insurance Category – Written Premium (THB Billion), 2007–2011

8. Figure 54: Thai Liability Insurance Category – Written Premium (THB Billion), 2011–2016
Figure 55: Thai Marine, Aviation and Transit Insurance Category – Written Premium (THB Billion),
2007–2011
Figure 56: Thai Marine, Aviation and Transit Insurance Category – Written Premium (THB Billion),
2011–2016
Figure 57: Thai Personal Accident and Health Insurance Written Premium by Category (THB
Billion), 2007–2016
Figure 58: Thai Personal Accident and Health Insurance Written Premium by Category (% Share),
2011 and 2016
Figure 59: Thai Personal Accident and Health Insurance Market Dynamics by Category,
2007–2016
Figure 60: Thai Personal Accident and Health Insurance – Paid Claims by Category (THB Billion),
2007–2011
Figure 61: Thai Personal Accident and Health Insurance – Paid Claims (THB Billion), 2011–2016
Figure 62: Thai Personal Accident and Health Insurance – Incurred Loss (THB Billion), 2007–2011
Figure 63: Thai Personal Accident and Health Insurance – Incurred Loss by Category (THB
Billion), 2011–2016
Figure 64: Thai Personal Accident and Health Insurance – Loss Ratio (%), 2007–2011
Figure 65: Thai Personal Accident and Health Insurance – Loss Ratio (%), 2011–2016
Figure 66: Thai Personal Accident and Health Insurance – Combined Ratio (%), 2007–2011
Figure 67: Thai Personal Accident and Health Insurance – Combined Ratio (%), 2011–2016
Figure 68: Thai Personal Accident and Health Insurance – Total Assets (THB Billion), 2007–2011
Figure 69: Thai Personal Accident and Health Insurance – Total Assets (THB Billion), 2011–2016
Figure 70: Thai Personal Accident and Health Insurance – Total Investment Income (THB Billion),
2007–2011
Figure 71: Thai Personal Accident and Health Insurance – Total Investment Income (THB Billion),
2011–2016
Figure 72: Thai Personal Accident and Health Insurance – Retentions (THB Billion), 2007–2011
Figure 73: Thai Personal Accident and Health Insurance – Retentions (THB Billion), 2011–2016
Figure 74: Thai Personal Accident and Health Insurance – Investments (THB Billion), 2007–2011
Figure 75: Thai Personal Accident and Health Insurance Penetration (% of GDP), 2007–2011
Figure 76: Thai Personal Accident and Health Insurance – Premium Per-capita (THB), 2007–2011
Figure 77: Thai Personal Accident Insurance Category – Written Premium (THB Billion),
2007–2011
Figure 78: Thai Personal Accident Insurance Category – Written Premium (THB Billion),
2011–2016
Figure 79: Thai Health Insurance Category – Written Premium (THB Billion), 2007–2011
Figure 80: Thai Health Insurance Category – Written Premium (THB Billion), 2011–2016
Figure 81: Reinsurance Ceded by Insurance Market in Thailand (THB Billion), 2007–2016
Figure 82: Reinsurance Market Dynamics by Insurance Market in Thailand, 2007–2016
Figure 83: Thai Life Insurance – Percentage of Reinsurance Ceded (%), 2007–2011
Figure 84: Thai Life Insurance – Percentage of Reinsurance Ceded (%), 2011–2016

9. Figure 85: Thai Non-Life Insurance – Percentage of Reinsurance Ceded (%), 2007–2011
Figure 86: Thai Non-Life Insurance – Percentage of Reinsurance Ceded (%), 2011–2016
Figure 87: Thai Personal Accident and Health Insurance – Percentage of Reinsurance Ceded (%),
2007–2011
Figure 88: Thai Personal Accident and Health Insurance – Percentage of Reinsurance Ceded (%),
2011–2016
Figure 89: Thai Insurance Industry – Market Shares, 2010
Figure 90: Thai GDP at Constant Prices (US$ Billion), 2007–2011
Figure 91: Thai GDP Per-capita at Constant Prices (US$), 2007–2011
Figure 92: Thai GDP at Current Prices (US$ Billion), 2007–2011
Figure 93: Thai Construction Net Output at Current Prices (US$ Billion), 2007–2011
Figure 94: Thai Construction Output at Current Prices as a Percentage of GDP (%), 2007–2011
Figure 95: Thai Arable Land (Hectares), 2007–2011
Figure 96: Thai Exports as a Percentage of GDP (%), 2007–2011
Figure 97: Thai Number of Air Passengers (Million), 2007–2011
Figure 98: Thai Healthcare Expenditure Per-Capita (US$), 2007–2011
Figure 99: Thai Employed Population (%), 2007–2011
Figure 100: Thai Annual Disposable Income (US$ Billion), 2007–2011
Figure 101: Thai Annual Disposable Income Per Capita (US$), 2007–2011
Figure 102: Thai Total Population (Million), 2007–2011
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