Product Type: Market Research Report
Published by: Global Industry Analysts
Published: March 2008
Product Code: R263-3402Description The Asia-Pacific Niche Insurance Markets Report provides insightful analysis, market overview, industry structure and outlook of insurance industry in Hong Kong and Singapore. Laden with quantitative analysis, the report also provides the reader with an exhaustive statistical preface to the industry in these countries. Get to know about various types of life and non-life insurance products in the regional markets, backed by statistical inference of key players in these markets. The closely summarized market report is designed to offer a broad, macro level picture of the trends, challenges, market structure/basics, recent mergers & acquisitions, and strategic corporate developments witnessed by the industry in respective countries. The report also peeps into the recent past/ historical perspective of these markets and corporate developments within the industry. A regional level discussion also looks into the leading companies’ footing in these markets along with their annual written premiums and/ or market shares. The report discusses and profiles several key and niche players like American Home Assurance Company, Great Eastern Holdings Ltd., and NTUC Income.
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Table of Contents - HONG KONG
- 1. Market Overview
- Insurance Sector Representation
- Table 1: Hong Kong Recent Past, Current & Future Analysis for
- Insurance Industry by Segment - Life and Non-Life Markets
- Independently Analyzed with Annual Premium Income in US$
- Million for the Years 2005 through 2009 (includes
- corresponding Graph/Chart)
- Table 2: Hong Kong 5 -Year Perspective for Insurance Industry
- by Segment - Percentage Breakdown of Premium Income for Life
- and Non-Life Markets for 2005, 2007 and 2009 (includes
- corresponding Graph/Chart)
- Table 3: Insurance Industry in Hong Kong (2006): Per Capita
- Premium in US$ and Premium as % of GDP by Category - Life and
- Non-Life
- Industry Snapshots
- Table 4: Hong Kong Insurance Industry (2000-2004): Insurance
- Penetration in % for Life and Non-Life Sectors (Premium/
- GDP) (includes corresponding Graph/Chart)
- Table 5: Hong Kong Insurance Industry (2000-2004): Life and
- Non-Life Insurance Density (Premium/POP) (In ‘000 HK$)
- (includes corresponding Graph/Chart)
- A Leading Insurance Market in Asia-Pacific
- Insurance Demand to Grow Strongly in Hong Kong
- Market Penetration
- Long Term Insurance Sector Growing Steadily
- Sun Life Financial Completes the Acquisition of CMG Asia
- CEPA Agreement Sparks Growth in Hong Kong Insurance Market
- Multi-Channel Distribution Grows in Popularity
- 2. Market Segmentation
- Accident and Health
- Employees’ Compensation
- Engineering
- Liability
- Marine
- Motor
- Property
- 3. Insurance Business in Hong Kong - The Prerequisites
- Solvency Requirement
- Authorization
- Regulatory Climate
- Functions and Powers of the Insurance Authority
- Regulation of Intermediaries
- 4. Insurance Service Providers
- Table 6: Hong Kong Insurance Industry (2004): Number of
- Insurance Service Providers by Type for General Insurance,
- Long Term Insurance, and Composite (includes corresponding
- Graph/Chart)
- Strong Foothold of Foreign Insurers
- Captive Insurance - Key Market Participant
- 5. Review of Key Sectors
- 5a. Life Insurance
- Table 7: Hong Kong Life Insurance Industry (2006 & 2007):
- Percentage Breakdown of Gross Written Premiums by Policy Type
- for Non-linked Insurance and Linked Insurance
- Table 8: Hong Kong Life Insurance Industry (2006 & 2007):
- Percentage Breakdown of Gross Written Premiums by Policy Type
- for Individual Life, Group Life, Retirement Scheme, and
- Annuity & other (includes corresponding Graph/Chart)
- Life Insurance Industry - A Recent Past Perspective
- Table 9: Hong Kong Life Insurance Industry (2000-2004):
- Individual Life Premium in $ Billion (includes corresponding
- Graph/Chart)
- Market Players
- Table 10: Hong Kong Life Insurance Industry (2004): Premium
- Revenue in US$ Billion and Percentage Value Breakdown of
- Leading Insurance Companies for AIA, HSBC Life, Manulife,
- Prudential, AXA, China Life, Winterthur Life, Hang Seng Life,
- Royal Skandia Life and BOC Group Life (includes corresponding
- Graph/Chart)
- Table 11: Hong Kong Life Insurance Industry (2003): Gross
- Written Premium in US$ Million by Leading Companies for AIA
- (Bermuda), Manulife, HSBC Life, Prudential (UK), AXA China
- (Bermuda), Hang Seng Life, Winterthur Life, CMG Asia, Royal
- Skandia Life, and ING Life (includes corresponding
- Graph/Chart)
- Table 12: Top-Five Players in the Life Insurance Industry of
- Hong Kong (2002) - Gross Written Premiums in US$ Million for
- AIA (Bermuda), Manulife (International), HSBC Life, AXA China
- (Bermuda), and Prudential (UK) (includes corresponding
- Graph/Chart)
- 5b. General/ Non-Life Insurance
- Market Players: Non-Life
- Table 13: Leading Players in Hong Kong General Insurance
- Market (2005): Percentage Breakdown by Company -ACE, American
- Home, Asia Insurance, AXA General, BOC Group Insurance, HSBC
- Insurance, Ming An, QBE HKSI, Wing Lung, Zurich Insurance,
- and Others (includes corresponding Graph/Chart)
- Table 14: Hong Kong Non-Life Insurance Industry (2003):
- Gross Written Premium in US$ Million by Leading Companies
- for BOC Group Insurance, American Home, Ming An, HSBC
- Insurance, Asia Insurance, QBE HKSI, Wing Lung, AXA General,
- Falcon Hong Kong, and CGU (includes corresponding
- Graph/Chart)
- Table 15: Top-Five Players in the Non-Life Insurance
- Industry of Hong Kong (2002) - Gross Written Premium in US$
- Million for Ming An, Bank of China Group, American Home, QBE
- HKSI, and HSBC Insurance (includes corresponding Graph/Chart)
- 6. A Historic Perspective
- Recovery Amidst Economic Stagnancy
- General Insurance Industry Stages Revival from Losses
- Healthcare Insurance Quadruples
- Life Insurance: The Dominant Sector
- Table 16: Life and Non-Life Insurance as a Percentage of GDP
- in Hong Kong: 1994-2003 (includes corresponding Graph/Chart)
- Impact of China’s Accession to WTO
- 7. Recent Industry Activity
- Zurich to Set-Up New Business Unit in Asia-Pacific
- Fortis to Acquire Pacific Century Insurance
- MetLife to Acquire MetLife Fubon
- BOC Hong Kong to Acquire Majority Shares of BOC Group
- AXA Takes Over Two Insurers in Asia
- Radian Insurance to Commence Operations in Hong Kong
- 8. Focus on Select Players
- Bank of China Group Insurance Co. Ltd.
- Ming An Insurance Co., Ltd.
- The Prudential Assurance Co. Ltd.
- SINGAPORE
- 1. Market Overview
- Insurance Sector Representation
- Table 17: Singapore Recent Past, Current & Future Analysis
- for Insurance Industry by Segment - Life and Non-Life
- Markets Independently Analyzed with Annual Premium Income in
- US$ Million for the Years 2005 through 2010 (includes
- corresponding Graph/Chart)
- Table 18: Singapore 6 -Year Perspective for Insurance
- Industry by Segment - Percentage Breakdown of Premium Income
- for Life and Non-Life Markets for 2005, 2008, and 2010
- (includes corresponding Graph/Chart)
- Table 19: Insurance Industry in Singapore (2006): Per Capita
- Premium in US$ and Premium as % of GDP by Category - Life and
- Non-Life
-
- Singapore: Among the Most Prominent Reinsurance Centers
- Steps in the Right Direction
- Government’s Support Fuels Growth in Insurance Sector
- Tax Incentive Scheme for Overseas Insurance Businesses
- Tax Exemption Scheme for Offshore Marine Hull & Liability Insurance Business
- Abolition of Withholding Taxes on Financial Guarantee Insurance Contracts
- Scheme for Tax-Deductible Special Reserves
- 2. Regulatory Environment
- Margin of Solvencies and The Prerequisites
- The Monetary Authority of Singapore (MAS)
- Powers of MAS
- Regulations for Insurance Intermediaries
- 3. A Peek into the Market Figures
- Table 20: Insurance Industry in Singapore (2005): Gross
- Premiums of Singapore Insurance Fund Business in SG$ Million
- by Category - Cargo, Fire, Health, Hull and Liability, Motor,
- Personal Accident, Workmen Compensation, and Miscellaneous
- (includes corresponding Graph/Chart)
- Table 21: Insurance Industry in Singapore (2005): Gross
- Premiums of Offshore Insurance Fund Business for Direct
- Insurers, Reinsurers, and Captive Insurers in SG$ Million by
- Category - Cargo, Property, Hull & Liability, and Casualty &
- Others (includes corresponding Graph/Chart)
- Table 22: Insurance Industry in Singapore (2005): Percentage
- Breakdown of Gross Premiums of Offshore Insurance Fund
- Business for Direct Insurers, Reinsurers, and Captive Insurers
- by Category - Cargo, Property, Hull & Liability, and Casualty &
- Others (includes corresponding Graph/Chart)
- Table 23: Insurance Industry in Singapore (2001-2003): New Insurance Business in SG$ Million
- Table 24: Insurance Industry in Singapore (2001-2003): Percentage Breakdown of Insurance Business
- Table 25: Insurance Industry in Singapore (2001-2003): In-Force Insurance Business in SG$ Million
- 4. Segmental Perspective
- 4a. Life Insurance
- Ageing Population to Drive Demand for Pension and Medical Insurance
- Life Insurance Market - A Recent Past Perspective
- Health Insurance - Growth of Healthcare Cost
- Revision of the Medical Benefits
- Market Leaders
- Table 26: Life Insurance Industry of Singapore (2003): Gross
- Written Premium in US$ Million by Leading Companies for AIA,
- Great Eastern Life, Prudential, NTUC Income, AVIVA, OAC, John
- Hancock, AXA Life Singapore, Asia Life, and Manulife
- (includes corresponding Graph/Chart)
- Table 27: Life Insurance Industry in Singapore (2002):
- Leading Players Ranked by Gross Written Premium in US$
- Million for AIA, Great Eastern Life, Prudential, NTUC Income,
- and AVIVA (includes corresponding Graph/Chart)
- 4b. Non-Life/General Insurance
- Table 28: Singapore General Insurance Market (2006 & 2007):
- Percentage Breakdown of Premiums by Product Category for
- Motor, Marine & Aviation, Fire, Personal Accident, Health,
- Workmen Compensation, and Miscellaneous Insurance (includes
- corresponding Graph/Chart)
- Non-Life Insurance Market - A Recent Past Perspective
- Market Leaders
- Table 29: Non-Life Insurance Industry of Singapore (2003):
- Gross Written Premium in US$ Million by Leading Companies
- for NTUC Income, American Home, AVIVA, SAGI-Captive 2, AXA
- Singapore, India International, Mitsui Sumitomo AIA, China,
- and Asia (includes corresponding Graph/Chart)
- Table 30: Property & Casualty Insurance Market in Singapore
- (2003): Percentage Breakdown of Direct Premium Received by
- Company for NTUC Income, American Home, Aviva, AXA
- Singapore, SAGI -Captive, India International, and Others
- (includes corresponding Graph/Chart)
- Table 31: Top-Five Players in the Non-Life Insurance
- Industry of Singapore (2002) - Gross Written Premium in US$
- Million for NTUC Income, American Home, Sagi-Captive, AXA
- Singapore, and China (includes corresponding Graph/Chart)
- 5. Recent Industry Activity
- Millea Acquires Asia General
- 6. Focus on Select Key Players
- American Home Assurance Company
- Great Eastern Holdings Ltd.
- NTUC Income
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