Property Insurance Market Analysis, Forecast, Growth Impact and Demand by Regions till 2021

Property Insurance in Emerging Asia’ analyzes the rapidly growing economies in Emerging Asia, and identifies opportunities in the midst of economic growth and low insurance penetration.

A shift in the global economic landscape is evident, as growth in developed economyies remains sluggish while emerging economies drive global growth. Strong domestic demand, government expenditure on infrastructure, and policy reforms are supporting growth in Emerging Asia.

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The report also analyzes high-growth property insurance markets such as China, India, Indonesia, Thailand, Malaysia, the Philippines and Vietnam, focusing on property insurance sub-categories. The construction market’s growth is one of the highest in the world, driven by rapid growth in urbanization.

The region’s susceptibility to natural catastrophes, ongoing political and cultural unrest, and dependence on the agricultural sector also add to the significance of property and casualty insurance. This has driven growth in the insurance industry, including property insurance in Emerging Asia.

Summary

  • Property Insurance in Emerging Asia’analyzes the rapidly growing insurance markets in Emerging Asia. It provides:
  • An overview of Emerging Asian markets in terms of expansion of the economy and growth in property lines of insurance.
  • Assessment of risks in Emerging Asia.
  • Outlines of opportunities from underlying risks in Emerging Asian economies.
  • An understanding of the significance of insurance as a tool for economic development.

Scope

  • This report provides a snapshot of property insurance in the Emerging Asian economies of China, India, Indonesia, Thailand, Malaysia, the Philippines and Vietnam.
  • It provides the market sizes for property insurance in each Emerging Asian market, and also provides forecasts to 2020.
  • It also provides market sizes for property insurance sub-categories.
  • It outlines key performance indicators and the competitive landscape for each Emerging Asian market.

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Reasons To Buy

  • Builds an understanding about the property insurance market in Emerging Asia.
  • Develop an insight into market trends and drivers.
  • Assess opportunities in the property insurance category.
  • Access information about leading insurers and their market shares in the non-life segment.

Key Highlights

  1. The direct written premium (DWP) for property insurance markets in Emerging Asia grew at a compound annual growth rate (CAGR) range of 7.06-12.99% during the review period, whereas the CAGR for other leading markets (the US, the UK, Germany, France and Japan) was between 2.44 and 4.92%. This is mainly because emerging economies are still in the developing stage, investing heavily in infrastructure.
  2. China is the largest property insurance market in Emerging Asia, with a DWP of US$20.9 billion in 2016, followed by India and Indonesia with US$3.7 billion and US$2.2 billion respectively. Moreover, the Chinese property insurance market with DWP valued at US$20.9 billion in 2016, is larger than insurance markets in Asia-Pacific such as Japan, Australia, South Korea and Singapore, with DWPs of US$19.3 billion, US$10.0 billion, US$7.9 billion and US$2.4 billion respectively in 2016.
  3. The insurance industry stands to be benefit from the presence of a robust manufacturing industry. A rise in manufacturing will also increase demand for property insurance such as fire and engineering products. Asia, particularly China and Southeast Asian nations, has been a hub of manufacturing for the world, playing a major role in global trade.
  4. The majority of growth in urbanization is taking place in emerging economies, and this will create demand for new forms of risk protection. Substantial opportunities lie ahead for the insurance industry, particularly the non-life segment and property insurance, as urbanization takes place rapidly in Emerging Asia. A rise in economic activity with ongoing industrialization will generate demand for a range of products in commercial lines of insurance, such as fire, engineering and natural catastrophe risk.

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Hexa Reports is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives.

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