Research and Markets: The Insurance Industry in Laos, Key Trends and Opportunities to 2017
Read more here: http://www.heraldonline.com/2013/07/...#storylink=cpy
Economic development, the entry of five new businesses and the requirement of third-party motor liability insurance caused the written premium value to grow during the review period. The Lao insurance industry is uncompetitive due to the limited presence of insurers and lack of interest from global investors. The situation is expected to change significantly after the country's recent entry into the WTO. The Lao insurance industry is expected to grow at a CAGR of 10.8%, over the forecast period. The distribution channel of the industry predominantly depends on direct sales, which accounts for one-third of the total sales in the country.
Synopsis
The report provides in depth market analysis, information and insights into the insurance industry in Laos, including:
- The Lao insurance industry's growth prospects by insurance segments and categories
- The competitive landscape in the Lao insurance industry
- The current trends and drivers of the Lao insurance industry
- The challenges facing the Lao insurance industry
- The regulatory framework of the Lao insurance industry
Key Highlights
- The non-life insurance segment accounted for the largest share of the total insurance written premium value in 2012.
- With the country's accession to the WTO, the industry is predicted to grow over the forecast period, at a CAGR of 10.8%.
- The Lao government has introduced compulsory third-party motor liability insurance.
- Motor insurance was the largest category in non-life, with the largest growth rate during the review period.
- The property insurance category has experienced significant growth during the review period at a CAGR of 22.4%.
- The Lao insurance industry is restricted to property, transportation, motor and casualty insurance, which generate a significant proportion of premium.
Companies Mentioned
- Allianz General Laos (AGL)
- Lane Xang Assurance Public Company
- Tokojaya Lao Assurance Co. Ltd
Read more here: http://www.heraldonline.com/2013/07/...#storylink=cpy
Economic development, the entry of five new businesses and the requirement of third-party motor liability insurance caused the written premium value to grow during the review period. The Lao insurance industry is uncompetitive due to the limited presence of insurers and lack of interest from global investors. The situation is expected to change significantly after the country's recent entry into the WTO. The Lao insurance industry is expected to grow at a CAGR of 10.8%, over the forecast period. The distribution channel of the industry predominantly depends on direct sales, which accounts for one-third of the total sales in the country.
Synopsis
The report provides in depth market analysis, information and insights into the insurance industry in Laos, including:
- The Lao insurance industry's growth prospects by insurance segments and categories
- The competitive landscape in the Lao insurance industry
- The current trends and drivers of the Lao insurance industry
- The challenges facing the Lao insurance industry
- The regulatory framework of the Lao insurance industry
Key Highlights
- The non-life insurance segment accounted for the largest share of the total insurance written premium value in 2012.
- With the country's accession to the WTO, the industry is predicted to grow over the forecast period, at a CAGR of 10.8%.
- The Lao government has introduced compulsory third-party motor liability insurance.
- Motor insurance was the largest category in non-life, with the largest growth rate during the review period.
- The property insurance category has experienced significant growth during the review period at a CAGR of 22.4%.
- The Lao insurance industry is restricted to property, transportation, motor and casualty insurance, which generate a significant proportion of premium.
Companies Mentioned
- Allianz General Laos (AGL)
- Lane Xang Assurance Public Company
- Tokojaya Lao Assurance Co. Ltd