Research and Markets: The Insurance Industry in Brunei - Key Trends and Opportunities to 2018

DUBLIN--()--Research and Markets (http://www.researchandmarkets.com/research/ql2qxj/the_insurance) has announced the addition of the "The Insurance Industry in Brunei, Key Trends and Opportunities to 2018" report to their offering.

The Bruneian insurance industry grew at a review-period CAGR of 4.8%. The industry was supported by growth in the personal accident and health segment, with a review-period CAGR of 7.3%, and the non-life segment with a CAGR of 5.7%. The industry is expected to grow at a forecast-period CAGR of 2.0%. The expanding life segment is expected to contribute to the industry's overall growth over the forecast period. Other factors will include the rising population, increasing exports of crude oil, and the low inflation rate.

Key Highlights:

  • The Bruneian insurance industry is small and overcrowded, despite a number of companies leaving the industry in recent years
  • Low awareness levels among Bruneians regarding insurance are a major hindrance to growth for the Bruneian insurance industry
  • The life insurance segment accounted for a share of 51.7% of the total Bruneian insurance gross written premium value in 2013
  • Takaful insurance has a strong presence in the insurance industry, particularly in motor insurance. Conventional insurance is increasingly losing ground to takaful, particularly in the non-life segment
  • Despite being listed as a developed country, Brunei's insurance penetration was just 0.64% in 2013, far lower than other developed countries such as Singapore, which had an insurance penetration of 7.7% in 2012
  • The low insurance penetration in Brunei reflects a large untapped market, reflecting the insurance industry's immense growth potential.

Key Topics Covered:

1 Executive Summary

2 Introduction

3 Bruneian Insurance Industry Overview

4 Industry Segmentation

5 Governance, Risk and Compliance

6 Competitive Landscape

7 Macroeconomic Indicators

8 Appendix

Companies Mentioned

- AIA Brunei

- National Insurance Company Bhd

- Standard Insurance Sdn Bhd

- Tokio Marine Insurance Singapore Ltd

For more information visit http://www.researchandmarkets.com/research/ql2qxj/the_insurance

Contacts

Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
Sector: Insurance

Contacts

Research and Markets
Laura Wood, Senior Manager
press@researchandmarkets.com
For E.S.T Office Hours Call 1-917-300-0470
For U.S./CAN Toll Free Call 1-800-526-8630
For GMT Office Hours Call +353-1-416-8900
U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716
Sector: Insurance