Overview of Asian Insurance Markets

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1 Overview of Asian Insurance Markets Simon Walpole Session Number: TPS2 Joint IACA, IAAHS and PBSS Colloquium in Hong Kong

2 Market Ranking in Asia Notes: 1. Colored boxes correspond to companies with life insurance operations in the 12 Asian s largest countries. 2. Numbers in the boxes represent the rankings of these companies in a country, based on the total written premium.

3 1,600,000,000 45,000 1,400,000,000 40,000 1,200,000,000 35,000 1,000,000,000 30,000 25, ,000,000 20, ,000,000 15, ,000,000 10, ,000,000 5,000 0 Japan Singapore Hong Kong South Korea Taiwan Malaysia Thailand China Indonesia Philippines Vietnam India 2009 GDP per capita (USD) and GDP as of 2009 SWISS RE sigma No. 2 / 2010

4 Market Info % 400 1% 350 1% % % 100 % 50 % Japan China South Korea Taiwan India Hong Kong Singapore Malaysia Thailand Indonesia Philippines Vietnam 2009 Insurance Penetration as % of GDP, GDP, Total Premium Income as of 2009 SWISS RE sigma No. 2 / 2010

5 Non Market Info Non % % % 80 % 2.5% 60 % % 20 Japan China South Korea Taiwan India Singapore Thailand Malaysia Hong Kong Indonesia Philippines Vietnam 2009 Insurance Penetration as % of GDP, GDP, Total Premium Income as of 2009 SWISS RE sigma No. 2 / 2010

6 Largest Companies in Asia 90.0 Largest Companies in Asia Total Written Premium (USD 'bn) Notes: The companies are ranked according to the sum of gross written premium in the 12 Asian countries which also take into account of their subsidiaries if they are one of the 10 largest life companies in these countries.

7 Largest Non Companies in Asia 2 Largest Non Companies in Asia 1 Total Written Premium (USD 'bn) Notes: The companies are ranked according to the sum of gross written premium in the 12 Asian countries which also take into account of their subsidiaries if they are one of the 10 largest life companies in these countries.

8 Companies Domestic vs JV vs Foreign 100% Domestic vs JV vs Foreign 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% China Japan India South Korea Taiwan Singapore Indonesia Thailand Philippines Vietnam Hong Kong Malaysia Dom JV Foreign

9 Non Companies Domestic vs JV vs Foreign 100% Non Domestic vs JV vs Foreign 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% China South Korea Japan Vietnam Thailand Indonesia Taiwan India Philippines Malaysia Hong Kong Singapore Dom JV Foreign

10 Japan Non % 140,000,000 45, % % 7.0% 6.0% % % % % 120,000, ,000,000 80,000,000 60,000,000 40,000,000 20,000,000 40,000 35,000 30,000 25,000 20,000 15,000 10,000 5, % 1.5% Non Gross Written Premium in , GDP, Total Premium Income SWISS RE sigma No. 2 / 2010, SWISS RE sigma No. 3 / 2009, SWISS RE sigma No. 3 / 2008

11 China Non 1 2.5% 1,600,000,000 4, % % 1.5% 1,400,000,000 1,200,000,000 1,000,000, ,000, ,000, ,000, ,000,000 3,500 3,000 2,500 2,000 1,500 1, % % Non , GDP, Total Premium Income SWISS RE sigma No. 2 / 2010, SWISS RE sigma No. 3 / 2009, SWISS RE sigma No. 3 / 2008

12 South Korea Non % 8.0% 7.0% 6.0% % % % % 60,000,000 50,000,000 40,000,000 30,000,000 20,000,000 10,000,000 25,000 20,000 15,000 10,000 5, % % 3.5% % 2.5% % 1.5% Non , GDP, Total Premium Income SWISS RE sigma No. 2 / 2010, SWISS RE sigma No. 3 / 2009, SWISS RE sigma No. 3 / 2008

13 Taiwan Non % 1% 1% 1 8.0% 6.0% % % 25,000,000 20,000,000 15,000,000 10,000,000 5,000,000 18,000 16,000 14,000 12,000 10,000 8,000 6,000 4,000 2, % % 2.5% % 1.5% Non , GDP, Total Premium Income SWISS RE sigma No. 2 / 2010, SWISS RE sigma No. 3 / 2009, SWISS RE sigma No. 3 / 2008

14 India Non 60.0 % 1,400,000,000 1, % % % 3.5% % 2.5% % 1.5% 1,200,000,000 1,000,000, ,000, ,000, ,000, ,000,000 1, % % % Gross Written Premium in 2010 Non Gross Written Premium in , GDP, Total Premium Income SWISS RE sigma No. 2 / 2010, SWISS RE sigma No. 3 / 2009, SWISS RE sigma No. 3 / 2008

15 Singapore Non % 6.0% % % % % 5,000,000 4,500,000 4,000,000 3,500,000 3,000,000 2,500,000 2,000,000 1,500,000 1,000, ,000 45,000 40,000 35,000 30,000 25,000 20,000 15,000 10,000 5, % 1.6% 1.4% 1.2% 0.8% % Gross Written Premium in 2008 Non , GDP, Total Premium Income SWISS RE sigma No. 2 / 2010, SWISS RE sigma No. 3 / 2009, SWISS RE sigma No. 3 / 2008

16 Hong Kong Non 2 1% 8,000,000 35, % % 6.0% % % 7,000,000 6,000,000 5,000,000 4,000,000 3,000,000 2,000,000 1,000,000 30,000 25,000 20,000 15,000 10,000 5, % 1.2% 0.8% % Non , GDP, Total Premium Income SWISS RE sigma No. 2 / 2010, SWISS RE sigma No. 3 / 2009, SWISS RE sigma No. 3 / 2008

17 Malaysia Non % 30,000,000 9, % 6.0 % 2.5% % 1.5% 25,000,000 20,000,000 15,000,000 10,000,000 5,000,000 8,000 7,000 6,000 5,000 4,000 3,000 2,000 1, % 1.4% 1.2% 0.8% % Gross Written Premium in 2008 Non Gross Written Premium in , GDP, Total Premium Income SWISS RE sigma No. 2 / 2010, SWISS RE sigma No. 3 / 2009, SWISS RE sigma No. 3 / 2008

18 Thailand Non 7.0 % 80,000,000 4, % % % 1.5% 70,000,000 60,000,000 50,000,000 40,000,000 30,000,000 20,000,000 10,000,000 4,000 3,500 3,000 2,500 2,000 1,500 1, % 1.4% 1.2% 0.8% % Non , GDP, Total Premium Income SWISS RE sigma No. 2 / 2010, SWISS RE sigma No. 3 / 2009, SWISS RE sigma No. 3 / 2008

19 Indonesia Non 1.2% 250,000,000 2, ,000,000 2, % 150,000,000 1, ,000,000 1, % % % 50,000, % Gross Written Premium in 2008 Non Gross Written Premium in , GDP, Total Premium Income SWISS RE sigma No. 2 / 2010, SWISS RE sigma No. 3 / 2009, SWISS RE sigma No. 3 / 2008

20 Philippines Non % 0.8% 0.7% % % % 100,000,000 90,000,000 80,000,000 70,000,000 60,000,000 50,000,000 40,000,000 30,000,000 20,000,000 10,000,000 2,000 1,800 1,600 1,400 1,200 1, % % % Non, GDP, Total Premium Income SWISS RE sigma No. 2 / 2010, SWISS RE sigma No. 3 / 2009, SWISS RE sigma No. 3 / 2008

21 Vietnam Non % 100,000,000 1, % % 0.7% % % % 90,000,000 80,000,000 70,000,000 60,000,000 50,000,000 40,000,000 30,000,000 20,000,000 10,000,000 1,200 1, % % % % Non, GDP, Total Premium Income SWISS RE sigma No. 2 / 2010, SWISS RE sigma No. 3 / 2009, SWISS RE sigma No. 3 / 2008

22 A few thoughts about future changes + Asian Multinationals Notes: 1. Colored boxes correspond to companies with life insurance operations in the 12 Asian s largest countries. 2. Numbers in the boxes represent the rankings of these companies in a country, based on the total written premium Deloitte LLP. All rights reserved.

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