株式会社グローバルインフォメーション
TEL: 044-952-0102
表紙
市場調査レポート

初期段階の保険市場:外資系保険企業にとっての市場機会

Insight Report: Nascent Insurance Markets and Opportunities for Foreign Insurers

発行 Timetric 商品コード 307058
出版日 ページ情報 英文 52 Pages
即納可能
価格
本日の銀行送金レート: 1USD=111.05円で換算しております。
Back to Top
初期段階の保険市場:外資系保険企業にとっての市場機会 Insight Report: Nascent Insurance Markets and Opportunities for Foreign Insurers
出版日: 2014年06月24日 ページ情報: 英文 52 Pages
概要

先進国の保険市場は飽和しており、今後の成長余地は限られています。そのため、保険企業各社は事業拡大・多様化のために各国市場への進出を進めています。後発開発途上国の保険市場は初期段階にあり、まだ小規模でつい最近発展しはじめたばかりですが、国外企業への市場開放もちょうど始まったところであり、外資系の保険企業に巨大な市場機会をもたらすと期待されています。

当レポートでは、世界の主な後発開発途上国(ミャンマー・キューバ・カンボジア)における、まだ初期段階にある保険市場について分析し、市場の全体的な特徴や促進・阻害要因と共に、各国市場の人口・経済構造および規制環境、外資系の保険企業にとっての市場機会(潜在的市場規模・競争力)などを調査しております。

第1章 エグゼクティブ・サマリー

第2章 初期段階の保険市場:概要

  • 成長促進要因
    • 経済改革
    • 直接投資(FDI)の流入
    • 未開拓の市場
    • 火災保険の需要増大
    • 自動車販売台数の増加
  • 課題
    • 政治的リスク
    • 経済的リスク
    • 規制面でのリスク
    • 未教育の顧客ベースと経験不足
    • 国有保険企業の独占状態

第3章 ミャンマーの保険市場

  • 人口構造
  • 経済
    • GDP(現在価格)
    • 1人当たりGDP(現在価格)
  • 市場の移行過程
  • 規制環境
    • 直接投資(FDI)および外資参入
    • 非公式の規制
    • 強制加入保険
    • 財務健全性基準
    • 税制
  • 外資系保険企業にとっての市場機会
    • 市場規模
    • 普及率
    • 競争度

第4章 キューバの保険市場

第5章 カンボジアの保険市場

第6章 付録

図表一覧

目次
Product Code: IS0696MR

The report covers nascent insurance markets and provides:

  • Insights into the Cambodian, Cuban and Myanmar insurance industries.
  • Detailed analysis of various factors driving growth in the insurance industries in Cambodia, Cuba and Myanmar, and different challenges posed by these economies.
  • Comprehensive analysis of the demographic and economic structures of these countries.
  • Insights of existing regulatory standards in these economies for foreign participation, non-admitted insurance, compulsory insurance and prudential standards.
  • Analysis of various opportunities and challenges for foreign insurers in Cambodia, Cuba and Myanmar.

Summary

Insurance markets in developed countries are mature, with limited scope for growth. Insurers operating in these markets are therefore looking to new regions to expand and diversify. A nascent insurance market is one that is small and newly developing, and those that have been opened for foreign investment offer significant opportunities to foreign insurers.

Myanmar - Asia's final frontier economy

Myanmar, described as the last frontier economy of Asia, began the conversion to a free market economy when its first elected democratic government came to power in March 2011. The new government ended decades of military junta rule and isolation from the rest of the world. As a part of economic liberalization and economic reforms, the new government opened its insurance industry to private insurers in 2012 and is expected to open the market to foreign insurers in 2015. In 2012, the government authorized 12 domestic insurers to establish insurance businesses in the country. These insurers will complete their first year of operation in 2014.

Myanmar has the potential to generate US$1.6 billion of insurance premium every year, as estimated by Reuters and is expected to grow rapidly over the coming years. According to Asia Insurance Review's projections, total insurance premiums generated in the Myanmar insurance industry are expected to reach US$2.8 billion by 2030. Foreign insurance giants are eager to enter Myanmar and have begun preparations to enter the market when it is opened for foreign investment. Early movers will be responsible for developing Myanmar's insurance industry and should benefit from large shares of the billion-dollar market.

The untapped insurance industry of Cuba

The insurance industry in Cuba was opened for private participation and foreign investment in 1997 under free-market economic reforms initiated by Fidel Castro's then-communist government. However, with the high level of political risk, the Cuban insurance industry is yet to be explored by foreign insurers. Only state-owned bodies such as Esicuba SA, Esen, Asistur SA and Heath Lambert de Cuba SA operate in the country.

The political and economic scenario in Cuba began to change when Raul Castro succeeded Fidel Castro to lead the communist government in 2008. From 2011, Cuba's centrally planned socialist economy began the gradual journey to becoming a free market economy. The government eased out state control in many industries and permitted self-employment in 178 economic activities. Private participation in the economy significantly increased personal wealth and gross national savings, creating increased demand for insurance. Economic reforms are expected to boost GDP growth, which has growing by 2-3% annually since 2010. The gradual economic liberalization is expected to encourage foreign insurers to explore the untapped insurance market in coming years.

Beginning of a new life insurance market in Cambodia

Cambodia ended decades of economic isolation in 2000, when it made the transition to a free market economy. This followed bold economic reforms and economic liberalization, which triggered rapid growth over the next decade. The non-life insurance segment was formally established in the country in 2003 with the entry of private insurers. It grew rapidly during its initial phase of development and generated premiums of US$35.6 million in 2012. The Cambodian insurance industry has substantial potential for growth and is expected to continue to grow over the next decade to become a US$200.0 million industry by 2023. As of May 2014, six non-life insurers operated in the segment.

The life insurance segment in Cambodia formally started in 2012 with the establishment of the state-owned life insurer Cambodian Life Insurance Company followed by foreign life insurers Manulife and Prudential. The untapped market has the potential to generate around US$80-90.0 million within a decade. Cambodia is an attractive investment opportunity for multinational insurers and more are expected to enter the market in the next five year.

Scope

  • This report covers growth opportunities in three nascent insurance markets: Cambodia, Cuba and Myanmar.
  • The private insurance industries in Cambodia, Cuba and Myanmar are new, and offer significant opportunities for foreign insurance companies.
  • The report analyzes key factors driving growth in the insurance industries in Cambodia, Cuba and Myanmar, and various risks associated with these economies.
  • The report also analyzes key socio-economic factors, and the regulatory environments of these economies.

Reasons To Buy

  • Gain insights into the nascent insurance markets of Cambodia, Cuba and Myanmar, which are untapped and offer a huge growth potential
  • Assess the growth potential of these markets, and the opportunities for foreign insurance companies
  • Understand various factors driving growth in the insurance industry, and different challenges posed by these markets
  • identify various approaches to enter these markets, and capitalise on the available opportunities

Table of Contents

1. Executive Summary

2. Nascent Insurance Markets - Overview

  • 2.1. Growth Drivers
    • 2.1.1. Economic reforms
    • 2.1.2. FDI inflow
    • 2.1.3. Untapped markets
    • 2.1.4. Increasing demand for fire insurance
    • 2.1.5. Rising motor vehicle sales
  • 2.2. Challenges
    • 2.2.1. Political risks
    • 2.2.2. Economic risks
    • 2.2.3. Regulatory risks
    • 2.2.4. Uneducated customer base and lack of expertise
    • 2.2.5. Dominance of state-owned insurers

3. The Myanmar Insurance Industry

  • 3.1. Demographics
  • 3.2. Economy
    • 3.2.1. GDP at current prices
    • 3.2.2. GDP per capita at current prices
  • 3.3. The Transition
  • 3.4. Regulatory Environment
    • 3.4.1. FDI and foreign participation
    • 3.4.2. Non-admitted regulations
    • 3.4.3. Compulsory insurance
    • 3.4.4. Prudential standards
    • 3.4.5. Taxation
  • 3.5. Opportunities for Foreign Insurers
    • 3.5.1. Market size
    • 3.5.2. Penetration
    • 3.5.3. Degree of competition

4. The Cuban Insurance Industry

  • 4.1. Demographics
  • 4.2. Economy
    • 4.2.1. GDP at current prices
    • 4.2.2. GDP per capita at current prices
  • 4.3. The Transition
  • 4.4. Regulatory Environment
    • 4.4.1. FDI and foreign participation
    • 4.4.2. Non-admitted regulations
    • 4.4.3. Compulsory insurance
    • 4.4.4. Prudential standards
    • 4.4.5. Taxation
  • 4.5. Opportunities for Foreign Insurers
    • 4.5.1. Market size
    • 4.5.2. Penetration
    • 4.5.3. Degree of competition

5. The Cambodian Insurance Industry

  • 5.1. Demographics
  • 5.2. Economy
    • 5.2.1. GDP at current prices
    • 5.2.2. GDP per capita at current prices
  • 5.3. The Transition
  • 5.4. Regulatory Environment
    • 5.4.1. FDI and foreign participation
    • 5.4.2. Non-admitted regulations
    • 5.4.3. Compulsory insurance
    • 5.4.4. Prudential standards
    • 5.4.5. Taxation
  • 5.5. Opportunities for Foreign Insurers
    • 5.5.1. Market size
    • 5.5.2. Penetration
    • 5.5.3. Degree of competition

6. Appendix

  • 6.1. Methodology
  • 6.2. Contact Timetric
  • 6.3. About Timetric
  • 6.4. Timetric's Services
  • 6.5. Disclaimer

List of Tables

  • Table 1: Myanmar - Minimum Capital Requirements
  • Table 2: Myanmar - Corporate Tax Rates for the Financial Year 2014
  • Table 3: Insurance Penetration in Asia-Pacific and Other Regions, 2012
  • Table 4: Cuba - Minimum Capital Requirements
  • Table 5: Cuba - Guarantee Fund Requirements
  • Table 6: Cuba - Corporate Tax Rates for the 2014 Financial Year
  • Table 7: Insurance Penetration in Various Economies in Latin America and Other Regions, 2012
  • Table 8: Cambodia - Minimum Capital Requirements
  • Table 9: Cambodia - Corporate Tax Rates for the Financial Year 2014
  • Table 10: Insurance Penetration in Various Economies in Asia-Pacific and Other Regions, 2012

List of Figures

  • Figure 1: Nascent Insurance Markets - Growth Drivers
  • Figure 2: GDP Growth Rates in Cambodia and Myanmar, 2009-2018
  • Figure 3: GDP Growth Rates in Cambodia and Myanmar, 2009-2018
  • Figure 4: Nascent Insurance Markets - Challenges
  • Figure 5: Myanmar - Population Dynamics
  • Figure 6: Myanmar - GDP at Current Prices (MMK Trillions), 2009-2018
  • Figure 7: Myanmar - GDP at Current Prices (US$ Billions) 2009-2018
  • Figure 8: Myanmar - GDP Per Capita at Current Prices (MMK Thousand), 2009-2018
  • Figure 9: Myanmar - GDP Per Capita at Current Prices (US$), 2009-2018
  • Figure 10: Evolution of the Myanmar Insurance Industry
  • Figure 11: Cuba - Population Dynamics
  • Figure 12: Evolution of the Cuban Insurance Industry
  • Figure 13: Cambodia - Population Dynamics
  • Figure 14: Cambodia - GDP at Current Prices (KHR Trillions), 2009-2018
  • Figure 15: Cambodia - GDP at Current Prices (US$ Billion) 2009-2018
  • Figure 16: Cambodia - GDP Per Capita at Current Prices (KHR Thousand), 2009-2018
  • Figure 17: Cambodia - GDP Per Capita at Current Prices (US$), 2009-2018
  • Figure 18: Evolution of the Cambodian Insurance Industry
  • Figure 19: Cambodia - Non-life Insurance Segment Size (US$ Million), 2009-2018
  • Figure 20: Cambodia - Non-Life Insurance Segment Shares by Category, 2011
  • Figure 21: Cambodia - Shares of Non-Life Insurance Companies, 2011
Back to Top