Asia is becoming a major player with four Chinese financial services companies listed among the top 21 global companies last year by market capitalisation.

In the recent times, China has moved ahead of the Indian insurance sector. India opened the market to private players in 2000 while China did that a decade earlier. Apart from India and China, which are putting Asia on a global scale, other countries like Japan and Hong Kong are also increasingly diversifying their insurance sectors. Japan is home to some of the largest Asian insurers, and has an urgent desire to expand its client portfolio across the region. The insurance sector in this region has seen Western financial services companies compete for Asian assets. However, regional companies – especially from Japan and China – are expected to become more dominant in this market over the next few years. In the year 2007, Hong Kong saw the greatest amount of M&A transactions in their insurance sector.

Due to globalization, deregulation, and terrorist attacks, the insurance industry has gone through a tremendous transformation over the past decade.Between 2000 and 2007, Vietnamese life insurance sector increased from $51.12 million to $586.24 million, CAGR growth of 35.65% during this period. The Knowledge Centre forecasts 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. The Knowledge Centre predicts, the overall market size will increase by 72.5% further and is expected to touch the highs of $13,012.75 million by 2011.

Asian Insurance Focus: India, China, Vietnam & Thailand

New Delhi, 4th September 2008:

Globalization is the key source which is bringing about an "irreversible transformation" in the Asian insurance market. India and China are "dynamically" driving the growth of insurance markets in Asia. This process has been expedited by the "soothing impact" of the Asian financial crisis on reform resistance and its contribution towards acceleration of change, including deregulation, particularly "on the back of gradual opening up of two of the most important growth markets - China and India," says the study conducted by Swiss Re, one of the world's leading reinsurers.

Asia is becoming an important growth engine for global insurers due to the changing socio-economic dynamics. According to a latest research report from HSBC, 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 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.

China is the major hand behind the dynamic growth in the Asian insurance sector. Being the world’s largest untapped insurance market, it has the GDP growth of over 10% per annum, rapid economic development and a burgeoning consumer class. It has been the fastest-growing nation for the past quarter of a century, and its economy is the 4th largest in the world after the US, Japan and Germany, with a nominal GDP of US$3.42 trillion (2007) when measured in exchange-rate terms. Several factors like China’s aging population; high savings rate and poor social security systems as well as an increasing number of wealthy consumers segment, are responsible for this astounding level of growth.

However, India has also significantly contributed towards the development of the insurance sector in Asia. Indian economy is the 12th largest in the world, with a GDP of $1.25 trillion and 3rd largest in terms of purchasing power parity. With factors like a stable 8-9 per cent annual growth, rising foreign exchange reserves, a booming capital market and a rapidly expanding FDI inflows, it is on the fulcrum of an ever increasing growth curve.

Vietnam has become one of the fastest-growing economies in the world, averaging around 8% annual gross domestic product (GDP) 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.

Thailand is the 2nd largest economy in Southeast Asia, 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, 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%).
 
Market Performance:

Asia is becoming a major player with four Chinese financial services companies listed among the top 21 global companies last year by market capitalisation.

In the recent times, China has moved ahead of the Indian insurance sector. India opened the market to private players in 2000 while China did that a decade earlier. Apart from India and China, which are putting Asia on a global scale, other countries like Japan and Hong Kong are also increasingly diversifying their insurance sectors. Japan is home to some of the largest Asian insurers, and has an urgent desire to expand its client portfolio across the region. The insurance sector in this region has seen Western financial services companies compete for Asian assets. However, regional companies – especially from Japan and China – are expected to become more dominant in this market over the next few years. In the year 2007, Hong Kong saw the greatest amount of M&A transactions in their insurance sector. Due to globalization, deregulation, and terrorist attacks, the insurance industry has gone through a tremendous transformation over the past decade.

Between 2000 and 2007, Vietnamese life insurance sector increased from $51.12 million to $586.24 million, CAGR growth of 35.65% during this period. The Knowledge Centre forecasts 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. The Knowledge Centre predicts, 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 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 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 which is opening up the markets
=> Opening up of insurance market for foreign investments
=> Vietnam’s entry into the World Trade Organisation (WTO)
=> Cheaper and more effective distribution channels
=> 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

=> Continuous increment in intra-Asian trade
=> Need for diversification in the income streams
=> Rise in selling investment type products like annuities
=> Chance to compete directly with financial services companies
=> Focus on paying out more in claims
=> Drastic increment in marine and cargo insurance sectors
=> 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
=> 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
=> Hindrance in expansion in some of the emerging markets
=> 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
=> Trend analysis of Chinese economy & macroeconomic factors contributing to the growth of the sector
=> Market performance and forecast of insurance sector (total, life & non-life) since 1996 till 2007
=> Key issues & challenges, major trends & opportunities in the Chinese insurance sector
=> China’s position in the context of emerging countries, and driving factors
=> Company profiles of the top players in China
=> Trend analysis of Indian economy and growing macroeconomic trends
=> Market overview, performance & forecast (total, life & non-life) since 2000 till 2011
=> Growth drivers, key issues, challenges, major trends & opportunities in the Indian insurance sector
=> Government’s initiatives to promote & regulate the insurance market
=> India’s position in the context of emerging countries
=> Company profiles of the top players in India
=> 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 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

Table of Contents

SECTION I: INSURANCE – AN OVERVIEW 
1. INSURANCE - AN INTRODUCTION 
      1.1 KEY RATIOS/TERMS 
      1.2 LIFE INSURANCE 
                1.2.1 Types of Life Insurance Products 
                1.2.2 Tax and Life Insurance
      1.3 GENERAL / NON-LIFE INSURANCE 
                1.3.1 Types of Non-Life Insurance Products 
                1.4 TYPES OF INSURANCE COMPANIES
SECTION II: ASIAN INSURANCE SECTOR 
1. MARKET OVERVIEW 
        1.1 ASIAN INSURANCE MARKET SIZE 
        1.2 ASIAN LIFE INSURANCE MARKET 
        1.3 ASIAN NON-LIFE INSURANCE MARKET 
2. MAJOR ISSUES, TRENDS AND OPPORTUNITIES 
3. PORTER'S 5 FORCES ANALYSIS 
       3.1 THREAT OF NEW ENTRANTS / ENTRY BARRIERS 
       3.2 SUPPLIER POWER 
       3.3 BUYER POWER
       3.4 AVAILABILITY OF SUBSTITUTES 
       3.5 COMPETITIVE / INTERNAL RIVALRY
4. COMPETITIVE LANDSCAPE 
SECTION III: CHINESE INSURANCE SECTOR 
1. CHINA – AN INTRODUCTION 
      1.1 CHINESE ECONOMY 
                 1.1.1 Macroeconomic Trends 
                 1.1.1.1 Shift to a maturing economy 
                 1.1.1.2 Growth of the consumer class
                 1.1.1.3 Growing GDP 
                 1.1.1.4 Outward FDI 
                 1.1.2 Government Policies 
                          1.1.2.1 Three-Step Regional Development Strategy
                          1.1.2.2 The 11th Five-Year Program (2006-2010)
                          1.1.2.2 Development of Energy-Efficient Society 
2. CHINESE INSURANCE SECTOR 
      2.1 MARKET OVERVIEW 
                    2.1.1 Insurance Sector vs. Macro-Economic Factors 
                    2.1.2 Market Constituents 
      2.2 MARKET PERFORMANCE & FORECAST (1996-2011) 
                   2.2.1 Chinese Insurance Market 
                            2.2.1.1 Chinese Life Insurance Market 
                            2.2.1.2 Chinese Non-Life Insurance Market 
      2.3 TRENDS, ISSUES AND OPPORTUNITIES – AN ANALYSIS      
                   2.3.1 Demand from Commercial Property Segment 
                   2.3.2 Increasing Population and Prospective Buyers 
                   2.3.3 Middle-men or Broker Market 
                   2.3.4 Entry of Banks 
                   2.3.5 Increasing risk awareness & demand for innovative products
                   2.3.6 Guarantee rate reform 
                   2.3.7 Development of domestic reinsurance markets 
                   2.3.8 Regulatory obstacles 
                   2.3.9 Other major issues & trends 
                             2.3.9.1 Improved expertise of local insurers 
                             2.3.9.2 Need for Specialist Expertise 
                             2.3.9.3 Industry and Markets with Best Prospects for Insurance Products 
                             2.3.9.4 Government Regulations 
       2.4 COMPETITIVE LANDSCAPE 
                     2.4.1 Market Segmentation 
                     2.4.2 Competition in Life Insurance Sector 
                      2.4.3 Competition in Non-Life Insurance Sector 
                     2.4.4 Driving Factors 
                             2.4.4.1 Increase in reinsurance treaties 
                             2.4.4.2 Increased expertise will drive competition in specialist classes        
                             2.4.4.3 Ownership changes are driving improved performance    

                             2.4.4.4 Treaty capacity has driven competitiveness
                             2.4.4.5 Growth of local reinsurance capacity 
                               2.4.4.6 CIRC is promoting increased local market retentions
                               2.4.4.7 Local insurers are writing reinsurance business
                               2.4.4.8 Brokers are developing local reinsurance expertise
                        2.4.5 Company Profiles 
                                2.4.5.1 China Life Insurance Company Limited 
                                 2.4.5.2 China Pacific Insurance (Group) Co. Ltd. 
                               2.4.5.3 Ping An Insurance (Group) Company of China 
                               2.4.5.4 New China Life 
SECTION IV: INDIAN INSURANCE SECTOR 
1. INDIA 
      1.1 INDIAN ECONOMY 
                 1.1.1 Performance in FY2007 
                 1.1.2 Macroeconomic Trends 
                 1.1.3 Government Policies 
2. INDIAN INSURANCE SECTOR 
      2.1 MARKET OVERVIEW 
                   2.1.1 Insurance Sector vs. Macro-Economic Factors 
                   2.1.2 Market Performance & Forecast (2000-2011)
                            2.1.2.1 Indian Insurance Market 
                            2.1.2.2 Indian Life Insurance Market 
                            2.1.2.3 Indian Non-Life Insurance Market 
      2.2 DRIVING FACTORS 
                  2.2.1 Opening of Pension sector 
                  2.2.2 Growing Per Capita Income & Changing Demographics 
                  2.2.3 Macro-Economic and Demographic Growth Drivers
                  2.2.4 Other Major Drivers
                           2.2.4.1 Increasing FDI 
                           2.2.4.2 PPP infrastructure development 
                            2.2.4.3 Insurer quality and client education 
                           2.2.4.4 Catastrophe exposure 
      2.3 TRENDS, ISSUES AND OPPORTUNITIES – AN ANALYSIS 
                  2.3.1 Major Issues 
                          2.3.1.1 Reason for opening up the Insurance Industry 
                          2.3.1.2 Market Structure 
                          2.3.1.3 Role of IRDA 
                  2.3.2 Emerging Sectors for Insurance 
                           2.3.2.1 Healthcare insurance 
                           2.3.2.2 Pension Plans 
                  2.3.3 Emergence of Multiple Distribution Networks
                  2.3.4 Consolidation of Distribution Strategy 
                  2.3.5 Targeting niche customer base with customized products 
                  2.3.6 Stagnating premium growth and underlying opportunity 
                  2.3.7 The Deregulation of the Insurance Market in India (w.e.f. January 1, 2007) 
                  2.3.8 Proposed stages of removal of the tariffs 
                  2.3.9 Insurance sector driving Indian CRM market
                  2.3.10 Product Preferences among Consumers 
                  2.3.11 Success of Auto Insurance Sector 
                  2.3.12 Other major hurdles 
      2.4 GOVERNMENT REGULATIONS 
                   2.4.1 Insurance Acts 
                   2.4.2 Government backed insurance schemes 
                   2.4.3 Reforms in Insurance Sector 
                    2.4.4 Protection of the interest of policy holders 
      2.5 COMPETITIVE LANDSCAPE 
                   2.5.1 Competition in Life Insurance Sector 
                            2.5.1.1 Market Share & Segmentation 
                                2.5.1.2 Life Insurance - Five Forces Analysis 
                       2.5.2 Competition in Non-Life Insurance Sector
                                2.5.2.1 Market Share & Segmentation 
                                2.5.2.2 Non-Life Insurance - Five Forces Analysis
                       2.5.3 Company Profiles – Top Players 
                               2.5.3.1 Bajaj Allianz General Insurance Co. 
                               2.5.3.2 ICICI Lombard General Insurance Company
                               2.5.3.3 IFFCO-TOKIO General Insurance (ITGI) 
                               2.5.3.4 National Insurance Company Limited 
                               2.5.3.5 The New India Assurance Co. Ltd. 
                               2.5.3.6 The Oriental Insurance Company Limited 
                               2.5.3.7 Reliance General Insurance 
                               2.5.3.8 Royal Sundaram Alliance Insurance Co. Ltd 
                               2.5.3.9 Tata AIG General
                                2.5.3.10 United India Insurance Company Limited 
                                2.5.3.11 Bajaj Allianz Life Insurance Company
                                2.5.3.12 ICICI Prudential Life Insurance Company
SECTION V: VIETNAM INSURANCE SECTOR
1. VIETNAM
 1.1 VIETNAMESE ECONOMY
 1.2 GOVERNMENT POLICIES

2. INSURANCE SECTOR
 2.1 MARKET OVERVIEW
 2.2 MARKET SEGMENTATION & PERFORMANCE
  2.2.1 Vietnamese Insurance Market
   2.2.1.1 Life Insurance Sector
   2.2.1.2 Non-Life Insurance Sector
 2.3 DRIVING FACTORS
  2.3.1 Recent catalysts
  2.3.2 Young and vibrant population
  2.3.3 Emerging middles class
  2.3.4 Literacy rate
  2.3.5 War of talent
  2.3.6 Increasing foreign direct investment (FDI)
 2.4 TRENDS, ISSUES AND OPPORTUNITIES – AN ANALYSIS
  2.4.1 Foreign investors targeting Vietnamese Insurance Sector
  2.4.2 Entry in WTO
  2.4.3 Foreign companies trying to capture Vietnamese Market
  2.4.4 Traditional mindset of the people – Insurance still in a nascent stage
  2.4.5 Inadequate basic infrastructure and support
  2.4.6 Underselling to capture market
  2.4.7 Setting up of a national export-credit insurance organisation
  2.4.8 Underlying opportunity for life insurance policies – need for risk prevention
  2.4.9 Entry of foreign players & staffing concerns
  2.4.10 Historical economic growth trends
  2.4.11 Establishment of the Laos-Vietnam Insurance Joint Venture (LVI)
  2.4.12 Factors driving investment decisions
  2.4.13 Transformation at Bao Viet
  2.4.14 HSBC enters strategic relationship with top Vietnam insurer, Bao Viet
 2.5 GOVERNMENT REGULATIONS
 2.6 COMPETITIVE LANDSCAPE & MARKET SHARE
  2.6.1 Company Profiles
  2.6.1.1 ACE Life Insurance Co., Ltd.
  2.6.1.2 AIG General Insurance (Vietnam) Company Limited
  2.6.1.3 Bao Viet Holdings
  2.6.1.4 Bao Minh
  2.6.1.5 Groupama/GAN
  2.6.1.6 Nipponkoa Insurance Co., Ltd.
  2.6.1.7 Prudential Vietnam Assurance
  2.6.1.8 Petrolimex Joint Stock Insurance Company (PJICO)
  2.6.1.9 Petrovietnam Insurance Company (PVIC)
  2.6.1.10 QBE Insurance (Vietnam) Company Limited
SECTION VI: THAILAND INSURANCE SECTOR
1. THAILAND 
1.1. THAI ECONOMY 
1.2. GOVERNMENT POLICIES 
2. THAI INSURANCE SECTOR
2.1. MARKET OVERVIEW 
2.2. MARKET PERFORMANCE & FORECAST 
2.2.1. Thailand Insurance Market 
2.2.1.1. Thailand – Life Insurance Market 
2.2.1.2. Thailand – Non-Life Market 
2.3. DRIVING FACTORS 
2.3.1. Recent Reforms 
2.3.2. M&A or transfer of the business of an Insurance Company 
2.3.3. Thai Corporate Finance Legislation 
2.3.4. Role of Bancassurance 
2.3.5. Recent Regulatory Developments 
2.3.6. Insurance Commission replaced Department of Insurance 
2.4. TRENDS, ISSUES AND OPPORTUNITIES – AN ANALYSIS 
2.4.1. Insurance M&A likely to drop 
2.4.2. Pending Legislations 
2.4.3. Implications for Foreign Insurers 
2.4.4. Skills development remains a key 
2.4.5. Issues in Health Insurance Systems in Thailand 
2.5. GOVERNMENT REGULATIONS 
2.6. COMPETITIVE LANDSCAPE 
2.6.1.  Life Insurance 
2.6.1.1. Life Insurance Renewal Market 
2.6.1.2. Single Premium Market 
2.6.2.  Non-Life Insurance Market 
2.6.2.1. Fire Insurance Market 
2.6.2.2. Marine and Transportation Market 
2.6.2.3. Cargo & Hull Market 
2.6.2.4. Automobile Sector 
2.6.2.5. Miscellaneous Insurance 
2.6.2.6. Industrial All Risks Insurance 
2.6.2.7. Public Liability Insurance 
2.6.2.8. Engineering Insurance 
2.6.2.9. Aviation Insurance 
2.6.2.10. Health Insurance 
2.6.2.11. Personal Accident Insurance 
2.6.2.12. Other Insurance 
2.6.3.  Company Profiles 
2.6.3.1. American International Assurance company (AIA), Thailand 
2.6.3.2. ACE INA Overseas Insurance Company Limited 
2.6.3.3. Ayudhya Insurance Public Company Limited 
2.6.3.4. Ayudhya Allianz C.P. Life Public Company Limited 
2.6.3.5. Bangkok Insurance Public Company Limited
2.6.3.6. Bangkok Union Insurance 
2.6.3.7. Charan Insurance 
2.6.3.8. Deves Insurance 
2.6.3.9. ING Life Limited 
2.6.3.10. Indara Insurance 
2.6.3.11. Manulife Insurance (Thailand) Public Company Limited 
2.6.3.12. MSIG Insurance 
2.6.3.13. QBE Insurance (Thailand) Company Limited 
2.6.3.14. Sri Muang Insurance 
2.6.3.15. The Viriyah Insurance Co., Ltd. 

List of Charts

Chart 1: Total Insurance Market ($ billion): Asia vs. India vs. China vs. Japan vs. Korea (2000-2011)
Chart 2: Rise in Market Share (%): Asia vs. India vs. China vs. Japan vs. Korea (2000-2011f)
Chart 3: Market Share of Top Insurance Markets (%): FY2000
Chart 4: Market Share of Top Insurance Markets (%): FY2011f
Chart 5: Total Insurance Market ($ billion): Asia vs. India vs. China vs. Japan vs. Korea (2000-2011)
Chart 6: Total Insurance Market ($ billion): Asia vs. India vs. China vs. Japan vs. Korea (2000-2011) 
Chart 7: China’s GDP Growth (1952-2005)
Chart 8: Macroeconomic Data & Factors
Chart 9: Total Premium Growth vs. GDP Growth (%) – 1996-2007e
Chart 10: Growth in China (%): Life vs. Non-Life vs. Total Premium vs. GDP (%) – 1996-2008f
Chart 11: China Insurance Market Value ($billion): 2000-2007e
Chart 12: China Insurance Market Value Forecast ($ billion): 2008-2011f
Chart 13: Chinese Insurance Market: Segment Share
Chart 14: Growth Trend of Life Insurance and Non-Life Insurance ($billion): 1996-2007e
Chart 15: GDP Growth vs. T. Premium Growth vs. Life Insurance Growth (%) – 1996-2007e
Chart 16: Life Insurance Market in China: 1996-2007 ($ billions)
Chart 17: Life Insurance Market in China: Forecast 2007-2011 ($billions)
Chart 18: GDP Growth vs. Total Premium Growth vs. Non-life Insurance Growth (%) – 1996-2008f
Chart 19: Sub-sector share of Non-life Insurance Market in China
Chart 20: Non-life Insurance Market in China: 1996-2007e ($ billions)
Chart 21: Non-life Insurance Market in China: Forecast 2007-2011 ($billions)
Chart 22: Market Share of Top 3 Domestic Life Insurance Companies
Chart 23: Market Share of Non-life Insurance Companies in China
Chart 24: Market Share of Reinsurers in China (2006)
Chart 25: GDP growth, per capita income and size of country by GDP in 2014
Chart 26: Indian Macroeconomic Data & Factors (2002-2011)
Chart 27: Government Debt- India (% of GDP)
Chart 28: Annual Inflation Rate (CPI) - India %
Chart 29: Total Premium Growth vs. GDP Growth (%) – 2000-2007e
Chart 30: Life Insurance vs. Non-Life Insurance vs. Total Premium vs. GDP (%): 2000-08f
Chart 31: India Insurance Market Value ($ billion): 2000-2007
Chart 32: India Insurance Market Value Forecast ($ billion): 2008-2011f 
Chart 33: India Insurance Market: Segment Share (2007e)Chart 34: India Life Insurance Market Value ($billion): 2000-2007
Chart 35: Asia-Pacific Life Insurance Market Segmentation: % share in 2006
Chart 36: India Life Insurance Market Share: % Share, by Value, 2006-2007
Chart 37: India Life Insurance Market Value Forecast ($billion): 2008-2011
Chart 38: India Non-Life Insurance Market Value ($billion): 2000-2007
Chart 39: India Non-Life Insurance Market Value Forecast ($billion): 2007-2011
Chart 40: Sub-Sector Share of Non-life Insurance Market in India (2007e)
Chart 41: India Non-life Insurance Market Share: % Share, by Value, 2006-2007
Chart 42: Market Share of Leading Life Insurance Companies in India – 2007
Chart 43: India Life Insurance Market Segmentation (%share & $bil. value): 2010-2011
Chart 44: India Non-Life Insurance Market Segmentation (%share): 2006-07
Chart 45: India Non-Life Insurance Market Segmentation (%share): 2010-2011
Chart 46: Macroeconomic Data: Population (mil.) vs. Nominal GDP ($ billions): 2002-2011
Chart 47: Macroeconomic Data: GDP per capital ($mil.) vs. Real GDP Growth (%): 2002-2011
Chart 48: Vietnam Insurance Market ($million): 2000-2007e
Chart 49: Vietnam Insurance Market Forecast ($million): 2007e-2011f
Chart 50: Vietnam Life Insurance Market Value ($million): 2000-2007e
Chart 51: Vietnam Life Insurance Market Value Forecast ($million): 2007e-2011f
Chart 52: Vietnam Non-Life Insurance Market Value ($million): 2000-2007e
Chart 53: Vietnam Non-Life Insurance Market Value Forecast ($million): 2007e-2011f
Chart 54: Market Share of Life Insurance Companies in Vietnam
Chart 55: Market Share of Non-Life Insurance Companies in Vietnam
Chart 56: Macroeconomic Trends: Population (mil.) vs. Nominal GDP ($ bil.) – 2002-2011f
Chart 57: Macroeconomic Trends: GDP per capital ($ bil.) vs. Real GDP Growth (%) – 2003-2011f
Chart 58: Growth Trends: Inflation (2002-2008f)
Chart 59: Key Economic Indicators Forecast (2007-2012f)
Chart 60: Growth Trend Comparison: GDP Growth vs. Insurance Growth (%) – 2000-2011f
Chart 61: Thailand Insurance Market Value ($billion): 2000-2007
Chart 62: Thailand Insurance Market Value Forecast ($million): 2007-2011f
Chart 63: Insurance Density: Premiums Per Capita in USD
Chart 64: Insurance Premium in % of GDP (2001-2011f)
Chart 65: Thailand Insurance Market: Segment Share 2007
Chart 66: Growth Trend of Life Insurance and Non-Life Insurance ($Million): 2000-2011f
Chart 67: Thailand Life Insurance Market Value ($million): 2000-2007
Chart 68: Thailand Life Insurance Market Value Forecast ($million): 2007-2011f
Chart 69: Thailand Non-Life Insurance Market Value ($million): 2000-2007
Chart 70: Thailand Non-Life Insurance Market Value Forecast ($million): 2007-2011f
Chart 71: Market Segmentation of Non-Life Insurance (%): 2007
Chart 72: Market Segmentation of Non-Life Companies by Ownership 2007 (%)
Chart 73: Comparison of Direct Premiums of Non - Life Insurance Business (2007 & 2006)
Chart 74: Direct Premium per Insurance Policy for 2007-2006 (Baht)
Chart 75: Comparison of Sum Insured Per Premium of Non - Life Insurance Business Segments (2007 & 2006)
Chart 76: Loss Ratio of Non - Life Insurance Business (2007)
Chart 77: Market Share of Top Life Insurance Companies by Total Premium in 2007 (%)
Chart 78: Life Insurance First Year Premium Market Segment in 2007 by Top Companies (%)
Chart 79: Life Insurance Premium Renewal (million Baht) and Growth (%) Year on Year for Top Companies (2006-2007)
Chart 80: Life Insurance Renewal Market Share of Top Companies in 2007 (%)
Chart 81: Single Insurance Premium Company Segmentation 2007
Chart 82: Fire Insurance Companies – Market Share (%): 2007
Chart 83: Marine & Transport Insurance Segment Share (%): 2007
Chart 84: Cargo and Hull Market: Direct Premium Share (%) in 2006-2007
Chart 85: Marine and Transportation Companies: Markey Share by Direct Premium (Unit: 1,000 Baht)
Chart 86: Market Share of Automobile Insurance Sub Sector 2007
Chart 87: Automobile Insurance Top Companies – Market Share by Direct Premium (%) – 2007
Chart 88: Market Share of Miscellaneous Non-Life Sector (%) – 2007
Chart 89: Top Miscellaneous Non-Life Insurance Companies: Market Share by Direct Premium (%) – 2007
Chart 90: Top Industrial All Risk Non-Life Insurance Companies: Market Share by Direct Premium (%) – 2007
Chart 91: Top Public Liability Non-Life Insurance Companies: Market Share by Direct Premium (%) – 2007
Chart 92: Top Engineering Non-Life Insurance Companies: Market Share by Direct Premium (%) – 2007
Chart 93: Top Aviation Non-Life Insurance Companies: Market Share by Direct Premium (%) – 2007
Chart 94: Top Health Insurance Companies: Market Share by Direct Premium (%) – 2007
Chart 95: Top Personal Accident Insurance Companies: Market Share by Direct Premium (%) – 2007
Chart 96: Top Other Non-Life Insurance Companies: Market Share by Direct Premium (%) – 2007

List of Tables

Table 1: Total Insurance Market ($ billion): Asia vs. India vs. China vs. Japan vs. Korea (2000-2007)
Table 2: Total Insurance Market ($ billion): Asia vs. India vs. China vs. Japan vs. Korea (2008-2011f)
Table 3: Rise in Market Share (%): Asia vs. India vs. China vs. Japan vs. Korea (2000-2007)
Table 4: Rise in Market Share (%): Asia vs. India vs. China vs. Japan vs. Korea (2008-2011f)
Table 5: Asian Life Insurance Market Value ($billion): 2000-2007
Table 6: Asian Life Insurance Market Value ($billion): 2008-2011
Table 7: Asian Non-Life Insurance Market Value ($billion): 2000-2007
Table 8: Asian Non-Life Insurance Market Value ($billion): 2008-2011
Table 9: Macroeconomic Data & Factors
Table 10: Chinese GDP vs. US Dollar exchange vs. Inflation Index
Table 11: Total Premium Growth & GDP Growth (%) – 1996-2007e
Table 12: Growth in China (%): Life Insurance vs. Non-Life Insurance vs. T. Premium vs.GDP (%) 1996-2008f
Table 13: China Insurance Market Value & Forecast ($ billion): 1996-2011f
Table 14: Growth Trend of Life Insurance and Non-Life Insurance ($billion): 1996-2007e
Table 15: GDP Growth vs. Total Premium Growth vs. Life Insurance Growth (%) – 1996-2007e
Table 16: Life Insurance Market in China: 1996-2007 ($ billions)
Table 17: Life Insurance Market in China: Forecast 2007-2011 ($billions)
Table 18: GDP Growth vs. Total Premium Growth vs. Non-life Insurance Growth (%) – 1996-2008f
Table 19: Non-life Insurance Market in China: 1996-2007e ($ billions)
Table 20: Non-life Insurance Market in China: Forecast 2007-2011f ($billions)
Table 21: Top Domestic and Foreign-Invested Life Insurance Firms in China
Table 22: Top Domestic and Foreign-Invested Non-Life Insurance Firms in China
Table 23: Indian Macroeconomic Data (2002-2011)
Table 24: Total Premium Growth & GDP Growth (%) – 2000-2007
Table 25: Growth (%): Life Insurance vs. Non-Life Insurance vs. Total Premium vs. GDP (%) – 2000-2008f
Table 26: India Insurance Market Value ($billion): 2000-2007
Table 27: India Insurance Market Value Forecast ($ billion): 2008-2011f
Table 28: India Life Insurance Market Value ($billion): 2000-2007
Table 29: Asia-Pacific Life Insurance Market Segmentation: % share in 2006
Table 30: India Life Insurance Market Share: % Share, by Value, 2006-2007
Table 31: India Life Insurance Market Value Forecast ($billion): 2008-2011
Table 32: India Non-Life Insurance Market Value ($billion): 2000-2007
Table 33: India Non-Life Insurance Market Value Forecast ($billion): 2007-2011
Table 34: India Non- Life Insurance Market Share: % Share, by Value, 2006-2007
Table 35: Composition of Indian Household Financial Savings
Table 36: India Insurance Market Segmentation (%share & $billion values): 2006-2007
Table 37: India Insurance Market Segmentation (%share & $billion value): 2010-2011
Table 38:  Market Share of leading life insurance companies in India (% share) – 2007
Table 39: India Life Insurance Market Segmentation (%share & $billion value): 2010-11f
Table 40: India Non-Life Insurance Market Segmentation: 2006-07
Table 41: India Non-Life Insurance Market Segmentation ($billion value): 2010-2011
Table 42: Macroeconomic Data: Population (mil.) vs. Nominal GDP ($ billions): 2002-2011
Table 43: Macroeconomic Data: GDP per capital ($mil.) vs. Real GDP Growth (%): 2002-2011
Table 44: Vietnam Insurance Market ($million): 2000-2007e
Table 45: Vietnam Insurance Market Forecast ($million): 2007e-2011f
Table 46: Vietnam Life Insurance Market Value ($million): 2000-2007e
Table 47: Vietnam Life Insurance Market Value Forecast ($million): 2007e-2011f
Table 48: Vietnam Non-Life Insurance Market Value ($million): 2000-2007e
Table 49: Vietnam Life Insurance Market Value Forecast ($million): 2007e-2011
Table 50: Macroeconomic Trends: Population (mil.) vs. Nominal GDP ($ bil.) – 2002-2011f
Table 51: Macroeconomic Trends: GDP per capital ($ bil.) vs. Real GDP Growth (%) – 2003-2011f
Table 52: Growth Trends: Inflation (2002-2008f)
Table 53: Key Economic Indicators Forecast – 2007-2012f
Table 54: Growth Trend Comparison: GDP Growth vs. Insurance Growth (%) – 2000-2011
Table 55: Thailand Insurance Market Value ($million): 2000-2007
Table 56: Thailand Insurance Market Value Forecast ($million): 2007-2011f
Table 57: Insurance Density: Premiums Per Capita in USD
Table 58: Insurance Premium in % of GDP (2001-2011f)
 Table59: Growth Trend of Life Insurance and Non-Life Insurance ($Million): 2000-2011f
Table 60: Thailand Life Insurance Market Value ($million): 2000-2007
Table 61: Thailand Life Insurance Market Value Forecast ($million): 2007-2011f
Table 62: Thailand Non-Life Insurance Market Value ($million): 2000-2007
Table 63: Thailand Non-Life Insurance Market Value Forecast ($million): 2007-2011f
Table 64: Thailand Insurance Sector: Projections of Macroeconomic Drivers (2006-2010f)
Table 65: Market Share of Top Players in Life Insurance Sector: Comparison between 2006 & 2007 (Million Baht) and their Growth (%)
Table 66: Life Insurance Total Premium Growth Year on Year by Company 2006-2007 (%)
Table 67: Life Insurance Market Growth by First Year Premium of Top Companies: Comparison between 2006 & 2007 (mn Baht)
Table 68: Life Insurance Market Growth by First Year Premium of Top Companies: Comparison between 2006 & 2007 (%)
Table 69: Life Insurance Premium Renewal (million Baht) and Growth (%) Year on Year for Top Companies (2006-2007)
Table 70: Life Insurance Renewal Market Share of Top Companies in 2007 (mn Baht)
Table 71: Life Insurance Single Premium Market Share of Top Companies in 2007 (mn Baht & % growth)
Table 72: Loss Ratio of Non - Life Insurance Business (2007)
Table 73: Marine and Transportation Companies: Markey Share by Direct Premium (Unit: 1,000 Baht)
Table 74: Automobile Insurance Top companies by Direct Premium (2007)
Table 75: Top Miscellaneous Non-Life Insurance Companies: Market Share by Direct Premium (%) – 2007

Table 76: Top Industrial All Risk Non-Life Insurance Companies: Market Share by Direct Premium – 2007
Table 77: Top Public Liability Non-Life Insurance Companies: Market Share by Direct Premium – 2007
Table 78: Top Engineering Non-Life Insurance Companies: Market Share by Direct Premium (%) – 2007
Table 79: Top Aviation Non-Life Insurance Companies: Market Share by Direct Premium – 2007
Table 80: Top Health Insurance Companies: Market Share by Direct Premium – 2007
Table 81: Top Personal Accident Insurance Companies: Market Share by Direct Premium – 2007
Table 82: Top Other Non-Life Insurance Companies: Market Share by Direct Premium – 2007

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