THAI NON-LIFE INSURANCE LANDSCAPENumbers of Insurance Companies in Thailand ( As of 30th June, 2018) Type of Business Local Company Foreign Branch Total Non-Life Insurance 50 5 55

THAI NON-LIFE INSURANCE LANDSCAPE

13th July, 2018

Kheedhej AnansiripraphaExecutive Director - TGIA

1

Members of Thai General Insurance Association (TGIA)

Numbers of Insurance Companies in Thailand( As of 30th June, 2018)

Type of Business Local Company Foreign Branch Total

Non-Life Insurance 50 5 55

Health Insurance 4 0 4

Reinsurer 1 0 1

Total 60

Members of Thai General Insurance Association (TGIA)

Local Incorporated Direct Companies : 54 Foreign Branches : 5 Reinsurer : 1 Total : 60

2

Growth in Thai Direct Life and Non-Life Insurance Premium : 1969 to 2017

Remark : CAGR = Compound Annual Growth Rate

Source: Office of Insurance Commission

78

55,727 58,780 56,339 62,54675,646

94,367115,518

133,355151,314

163,101173,708

201,942221,598

258,533

296,164

328,897

390,517

441,372

499,495

536,839

567,627

608,666

458

61,185 57,657 50,674 45,869 48,701 55,120 62,627 71,160 79,289 84,45495,287 100,816106,321110,041

124,999140,219

179,480

203,078205,368209,244

215,728

218,434

0

100,000

200,000

300,000

400,000

500,000

600,000

700,000

1969 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

Million Baht

Life Insurance Non-Life InsuranceCAGR +20.5%

(1969 to 2017)

CAGR +13.7%(1969 to 2017)

3

Non- Life Insurance Premium increased from

Baht 458 million in 1969 to

Baht 218 billion in 2017 = 462 times

Life Insurance Premium increased from

Baht 78 million in 1969 to

Baht 608 billion in 2017 = 7,282 times

Growth in Thai Non-Life Insurance Direct Premium by Classes of Business : 2002-2017


8,453 6,982 7,351 7,744 7,174 7,104 7,501 7,787 7,839 8,063 9,759 11,815 11,061 10,480 10,234 9,850

2,671 3,127 3,740 3,790 3,869 3,826 4,196 3,634 4,325 4,617 5,193 5,302 5,304 5,344 5,355 5,356

34,702 41,602

47,119 52,590 56,756 61,261 64,215 65,430

74,582 83,250

103,915

118,441 117,927 120,305 122,191 126,118

16,800 19,449 21,078 24,710 27,292 28,457 30,408 33,191 38,252

44,289

60,612 67,519 71,076 73,114 77,948 77,110

62,627 71,160

79,289 88,833

95,091 100,648

106,321 110,041

124,999

140,219

179,480

203,078 205,368 209,244 215,728 218,434

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

Unit: Million BahtFire Marine Motor Miscellaneous Total

4

5

Insurance 2.0: ปี 2520-2540(1977-1997)

Semi-Manual Work เริม่ใชค้อมพวิเตอร์ขนาดเล็กเขา้ชว่ยงานออกกรมธรรม์ ระบบตัวแทน นายหนา้ยังคงมบีทบาทมาก เริม่มรีะบบ Direct Mail เกดิขึน้

Insurance 1.0: ปี 2500-2520(1957-1977)

Fully Manual Work รับประกันผ่านระบบคนกลาง (ผ่านตัวแทนและนายหนา้) ดว้ยเอกสารทีเ่ป็นกระดาษออกกรมธรรม์ด ว้ยเครื่องพิมพ์ดีด ค านวณเบี้ยดว้ยเครื่องคิดเลขแบบโบราณ ลงบล๊อกดว้ยการด ์เรยีกวา่ใช ้

แรงงานคนมากๆ

Insurance 3.0: ปี 2540-2550(1997-2007)

Computerization รับงานผา่นธนาคาร และชอ่งทางการจ าหน่ายอืน่ๆ เชน่ Tele-Marketing ConvenienceStore (7-11) Hypermarket (Big C, Tesco) ไปรษณีย์

Insurance 4.0: ปี 2550-อนาคต(2007 Onwards)

เขา้สูร่ะบบ Digitalization การแขง่ขนัสมบรูณ์แบบ ใชท้กุชอ่งทางในการขายประกนัภัย สรา้งความเขา้ถงึลกูคา้โดยตรง แขง่ขนักนัในการใหบ้รกิารลกูคา้ แบบ SelfService and Interaction มากขึน้...

Digital Transformation: FinTech/InsurTech Era…

Remark: CAGR = Compound Annual Growth Rate


1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

Direct Life Insurance Premium Growth Rate (%)

5.5 -4.2 11.0 20.9 24.7 22.4 15.4 13.5 10.3 4.1 16.3 9.7 16.7 14.5 11.1 18.7 13.0 13.2 6.8 6.5

Direct Non-Life Insurance Premium Growth Rate (%)

-5.8 -12.1 -9.5 6.2 13.2 13.6 13.6 11.4 6.5 12.8 5.8 5.5 3.5 13.6 12.2 28.0 13.1 1.1 1.9 4

GDP Growth Rate (%) -2.8 -7.6 4.6 4.5 3.4 6.1 7.2 6.3 4.2 5.0 5.4 1.7 -0.7 7.5 0.8 7.2 2.7 0.8 2.9 3.2

Thai Insurance Penetration and Density: 2002-2017

Insurance Density (Direct Premium per Capita)Insurance Penetration (Direct Premium per GDP)

Unit: Baht

Source: Office of Insurance CommissionNational Economic and Social Development Board of Thailand

2.00

2.11

2.18

2.14

2.07

2.22

2.28

2.68

2.74

2.91

3.16

3.42

3.78

3.91

3.91

3.94

1.09

1.13

1.14

1.11

1.13

1.11

1.10

1.14

1.16

1.24

1.45

1.57

1.55

1.52

1.46

1.42

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

Life Non-Life

1,835

2,106

2,376

2,546

2,696

3,117

3,400

3,944

4,493

4,967

5,873

6,612

7,455

7,984

8,390

8,973

995

1,124

1,245

1,319

1,479

1,556

1,631

1,679

1,896

2,118

2,699

3,042

3,065

3,112

3,136

3,228

2002

2003

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

Life Non-Life

6

5%

3%

7%

50%

11%

13%

4%

7%

Motor Voluntary

Motor Compulsory

Marine

Fire

Other Miscellaneous

Health

PA

IARs 7Source : Office of Insurance Commission

Thai Non-Life Insurance Portfolio Mix by Classes of Business : 2017

Comparison of Direct Premiums and Portfolio Mix: 1987 and 2017


Motor37.25%

Marine 7.80%

Fire 35.99%

Health 0.51%

Other Miscellaneous

18.45%

2,800

5862,705

1,386

Direct Premiums: Baht 7.5 Billionand Portfolio Mix in 1987

Unit: In Million Baht

Motor Voluntary50.43%

Motor Compulsory

7.31%

Marine2.45%

Fire4.51%

Other Miscellaneous

7.44%

IARs11.12%

PA12.91%

Health3.82%

16,259

24,293

110,160

Direct Premiums: Baht 218.4 Billionand Portfolio Mix in 2017

8

30 Years Later…

Thai Non-Life Insurance Portfolio Mix by Classes of Business : 2002-2017

Source: Office of Insurance Commission9

21.73% 21.87% 20.46% 20.28% 20.86% 18.97% 17.87% 17.55% 16.97% 16.63% 19.11% 18.77% 19.14% 19.31% 18.88% 18.56%

1.64% 1.70% 1.82% 1.83% 1.76%2.12% 2.71% 3.20% 3.36% 3.62%

3.23% 2.98% 3.43% 3.61% 3.59% 3.82%

3.46% 3.76% 4.30% 5.71% 6.09% 7.19% 8.03% 9.42% 10.23% 11.34%11.43% 11.49% 12.04% 12.02% 13.66% 12.91%

55.41%58.46% 59.43% 59.20% 59.69% 60.87% 60.40% 59.46% 59.71% 59.37%

57.90% 58.33% 57.42% 57.50% 56.64% 57.74%

4.27%

4.39% 4.72% 4.27% 4.07% 3.80% 3.95% 3.30% 3.46% 3.29% 2.89% 2.61% 2.58% 2.55% 2.48% 2.45%13.50%9.81% 9.27% 8.72% 7.54% 7.06% 7.06% 7.08% 6.27% 5.75% 5.44% 5.82% 5.39% 5.01% 4.74% 4.51%

2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

Fire

Marine

Motor

PA

Health

Other Miscellaneous

% of Direct Premium

126,642 (57.85%)

31,683 (14.47%)

28,841 (13.17%)

12,998 (5.94%)

10,836 (4.95%)

7,476 (3.41%)

179 (0.08%)

212 (0.10%)

65 (0.03%)

Non-Life Insurance Distribution Channel: 2017

Unit: Million Baht

Broker*

Worksite

Walk-in

Bancassurance

Tele Marketing

Others

Internet

Direct Mail

Agent

*Broker Channel: Individual Broker, Corporate Broker, Finance & Car Dealer Business, Hypermarket, Convenience Store and Post Office. 10

11

14.51%

29.36%

9.93%

23.18% 19.07%

6.33% 7.51% 8.58%0.36% 4.37%

10.74%1.61% 5.95%

32.09%

46.15%74.24%

63.87%64.61%

68.91% 70.07% 64.78%

5.13%

30.39%

47.30%

16.66%

64.46%

44.30%

5.52%

2.28%2.44% 8.80%

8.65% 2.64% 7.30%

0.49%

36.87%

8.34%

0.08%

4.03%

9.10%18.97%

13.54% 10.51% 7.52%16.10% 19.78% 19.34%

94.01%

28.38%33.62%

81.65%

25.56%

Fire

Hu

ll

Car

go

Mo

tor

Co

mp

uls

ory

Mo

tor

Vo

lun

tary

IAR

s

PL

Engi

nee

rin

g

Avi

atio

n

PA

Hea

lth

Cro

p

Oth

er

Agent Broker Bancassurance Others

Direct Premiums by Distribution Channel(January – December 2017)

12

25.7% 26.1% 25.6% 25.8% 25.5% 24.5% 24.3% 25.1% 23.5% 25.2% 25.2% 25.0% 24.9% 25.1%

23.3% 23.6% 23.9% 24.0% 24.2% 24.0% 23.4% 24.0% 23.3% 24.4% 24.3% 24.2% 24.2% 24.2%

23.4% 23.2% 23.2% 24.0% 23.9% 24.4% 23.9% 24.4% 25.1% 24.0% 23.1% 23.2% 23.5% 23.6%

27.7% 27.0% 27.3% 26.2% 26.4% 27.1% 28.3% 26.5% 28.1% 26.4% 27.3% 27.6% 27.5% 27.2%

2004

2005

2006

2007

2008

2009

2010

2011

2012

2013

2014

2015

2016

2017

Q1 Q2 Q3 Q4

Direct Premium by Quarter from 2004-2017


Top 10 Companies*

Dominated 62.2%

36,163 VIRIYAH INSURANCE

(16.5%)

19,508DHIPAYA INSURANCE

(8.9%)

15,367BANGKOK INSURANCE

(7.0%)

12,103MUANG THAI INSURANCE

(5.5%)

10,412SOUTHEAST INSURANCE

(4.7%)

9,706CHUBB SAMAGGI INSURANCE

(4.4%)8,985THE SAFETY INSURANCE(4.1%)

8,915SYNMUNKONG INSURANCE

(4.1%)

7,805TOKIO MARINE INSURANCE

(3.6%)

7,506THANACHART INSURANCE

(3.4%)

Top 10 Market Share : Year 2017

13

Top 12 Companies*

Dominated 67.4%*Market Size @ Baht 5 Billion

Source : Office of Insurance Commission

Unit : Million Baht

6,042 LMG INSURANCE

(2.8%)

5,418 MITSUI SUMITOMO INSURANCE

(2.5%)

Total Market Average Size: Baht 3.7 Billion

851 (15.9%)

Marine542 (10.1%) 477 (8.9%) 400 (7.5%) 390 (7.3%)

Motor

32,723 (25.7%) 8,124 (6.4%) 7,912 (6.2%) 7,589 (6.0%) 6,405 (5.0%)

Fire

1,779 (18.1%) 1,364 (13.9%) 1,218 (12.4%) 1,193 (6.2%) 610 (5.5%)

Miscellaneous

14,667 (19.0%) 7,507 (9.7%) 7,212 (9.4%) 4,404 (5.7%) 3,511 (4.6%)

หน่วย : ล้านบาท

Top 5 Market Share : Year 2017

14

49.3%

56.1%

49.7%

48.4%

15

Market Share Classified by Company Sizes : 2002-2017

Loss Ratio[1]

Expense Ratio[2]

Combined Ratio[3] = [1]+[2]

Average 5 Years 51.25% 42.28% 93.53%

Company Sizes (% Portfolio Mix of Motor : Non-Motor Companies)

Avg. 5 Yrs.

Large (46.93% : 53.57%) 52.19% 38.62% 90.81%

Medium (36.03% : 63.97%) 48.74% 47.03% 95.77%

Small (51.04% : 48.96%) 53.73% 59.25% 112.98%

Loss Ratio and Expense Ratio (2012-2016) Classified by Company Sizes

16


Large company : Direct Premium more than 5,000 Million Baht

Medium Company : Direct Premium between 1,000 – 5,000 Million Baht

Small Company : Direct Premium less than 1,000 Million Baht

17

Average Premium per Staff : 6,914,000 Baht Total FTEs : 31,200 people

FTEs : Full Time EmployeesGOE : General Operating Expense

Staff Key Indicators in 2016

Average GOE per Staff : 935,000 Baht

Average Profit per Staff : 547,000 Baht


18

32

%

68

%

Marketing5,084

20

%

80

%

Underwriter4,572

39%

61

%

Investment110

11

%

89

%

Finance & Accounting

3,29473

%

27

%

Claims Officers8,971

35%

65%

Customer Services

1,923

Non-Life Insurance Staff in 2017

41%

59%

Actuary157

40%

60%

Others7,548

42%

58%

Total31,659


Women – 18,344

Men – 13,315

Total – 31,659

16% 14% 10% 28%

6% 24%

19

Average Premium per Staff: Baht 6,914,000Total FTEs : 31,200 people

FTEs : Full Time EmployeesGOE : General Operating Expense

Staff Key Indicators in 2016

Average GOE per Staff: Baht 935,000

Average Profit per Staff : Baht 547,000


Large Companies: Baht 8,333,000

Medium Companies: Baht 5,743,000

Small Companies: Baht 3,224,000

Large Companies: Baht 894,000

Medium Companies: Baht 1,047,000

Small Companies: Baht 765,000

Large Companies: Baht 886,000

Medium Companies: Baht 154,000

Small Companies: Baht 61,000

Loss Ratio of Non-Life Insurance Business: by Classes of Business

2007 2008 2009 2010 2011 2012 2013 2014 2015 2016

Fire 25.63% 14.88% 17.93% 18.80% 141.10% 81.10% 6.13% 11.27% 11.45% 13.61%

Marine Cargo 26.50% 22.36% 22.36% 25.71% 176.14% 33.24% 21.38% 23.12% 29.89% 24.41%

Marine Hull 38.88% 41.25% 64.96% 75.32% -9.02% 59.83% 62.50% 58.23% 19.15% 43.40%

Motor Compulsory 46.49% 41.32% 40.98% 61.61% 52.62% 50.96% 49.41% 40.91% 44.34% 57.02%

Motor Voluntary 63.12% 59.80% 60.84% 57.37% 54.86% 58.26% 59.71% 60.36% 63.75% 64.44%

Miscellaneous 49.02% 47.88% 45.52% 53.18% 696.34% 24.03% -8.36% 19.26% 37.90% 42.23%

Total 54.99% 51.41% 51.93% 53.79% 176.41% 51.24% 41.98% 47.01% 52.72% 55.26%

-100%

0%

100%

200%

300%

400%

500%

600%

700%

800%

20Source: Office of Insurance Commission compiled by IPRB

Thailand Mega Flood 2011

21

83.8

8.012.7 11.5 13.4 15.4

39.3

28.8 29.3 29.326.1

32.1

52.2 51.5

41.244.3

56.6 60.9

60.8 62.0 62.8 63.8 64.6 64.8

31.0

-3.2

21.7

37.941.3 42.7

-5

5

15

25

35

45

55

65

75

85

2555 (2012) 2556 (2013) 2557 (2014) 2558 (2015) 2559 (2016) 2560 (2017)

%Fire Marine Motor Compulsory Motor Voluntary Miscellaneous

MV

MC

Marine

Fire


Thai Non-Life Insurance Loss Ratio: 2012-2017

22

โครงการประกันภัยข้าวนาปี ปีการผลิต 2560

1.1%เบี้ยประกันภัยรับรวม จ านวน 2,350.6 ล้านบาท คิดเป็น 1.1% ของเบี้ยประกันภัยรับโดยตรงรวมท้ังหมด

พื้นที่เสียหาย 1.631 ล้านไร่

คิดเป็นค่าสินไหมทดแทน 2,054 ล้านบาทอัตราความเสียหาย 102.03%

พื้นที่รับประกันภัย 26.12 ล้านไร่

T R A I N I N G F O R T H E T R A I N E R S

โครงการประกันภัยข้ าวนาปี 2560/61

พื้ นที่ เ พ า ะปลู ก 58 , 1 11 , 3 3 3 ไ ร่พื้ นที่ รั บ ป ร ะกั นภั ย 26 , 1 17 , 3 94 ไ ร่

PENETRAT ION RAT IO 44 . 9 4 %

ภาค พื้นที่เพาะปลูก(ไร่) พื้นที่รับประกันภัย(ไร่) อัตราการเข้าถึง (%)

ภาคตะวันออกเฉียงเหนือ 36,130,790.06 16,671,630.75 (63.83%) 46.14%ภาคกลาง 13,107,979.54 6,590,080.25 (25.23%) 50.28%ภาคเหนือ 4,019,636.86 1,751,835.25 (6.71%) 43.58%ภาคตะวันออก 1,643,500.52 629,078.75 (2.41%) 38.28%ภาคตะวันตก 1,112,105.33 333,985.00 (1.28%) 30.03%ภาคใต้ 493,184.90 140,783.50 (0.54%) 28.55%

รวม 58,111,333.00 26,117,393.50 (100.00%) 44.94%

ภาคตะวันออกเฉียงเหนือ 36,130,790.06 16,671,630.75 (63.83%) 46.14%

โ ค ร ง ก า ร ปี 2 5 6 0 ทั่ ว ป ร ะ เ ท ศ

พื้ น ที่ เ พ า ะ ป ลู ก5 8 , 1 1 1 , 3 3 3 ไ ร่

พื้ น ที่ รั บ ป ร ะ กั น ภั ย2 6 , 1 1 7 , 3 9 4 ไ ร่

พื้ น ที่ จ่ า ย ค่ า สิ น ไ ห ม ท ด แ ท น1 , 6 4 5 , 3 7 8 ไ ร่

ทั่ ว ป ร ะ เ ท ศ

T R A I N I N G F O R T H E T R A I N E R S

อั ต ร า ส่ วนค่ า สิ น ไ หมทดแทนต่ อ ค่ า เ บี้ ย ป ร ะกั นภั ยL O S S R A T I O

556.91%

294.64%

48.51%31.10%

35.97%

101.79%

0.00%

100.00%

200.00%

300.00%

400.00%

500.00%

600.00%

0

500,000,000

1,000,000,000

1,500,000,000

2,000,000,000

2,500,000,000

2554 2555 2557 2558 2559 2560

เบี้ยประกันภัยสุทธิ (บาท) ค่าสินไหมทดแทน (บาท) Loss Ratio

ASEAN Insurance Landscape

26

8 August 1967

8 August 1967

28 July 1995

23 July 1997

8 January 198430 April 1999

8 August 1967

8 August 1967

8 August 1967

23 July 1997

Population : > 634.5 million

GDP : > US$ 2,559 Billion

(3% of World GDP)

(World’s 6th Largest Economy)

(258.7)

(67.5)

(31.7)

(5.6)

(103.2)

(92.7)

(52.9)

(15.2)

(6.6)

(0.4)

Source : IMF/ASEANstatsLast Updated : October, 2017

27

ASEAN Summit 2012 agreed to officially integrate ASEAN into… ASEAN Economic Community (AEC) in December 2015:

1. Free flow of goods2. Free flow of services3. Free flow of investment4. Free flow of skilled labor5. Free-er flow of capital

: in Million US$

ASEAN 10: Life & Non-Life Gross Written Premiums 2016

Source: Swiss Re, Sigma No.3/2017 and AIC 2017 ASEAN Insurance Statistical Report28

Million Baht 727,245 2,029,359 2,748,119

CountryNon Life

PremiumsLife

PremiumsTotal

Premiums

% of Total World

Premiums

% of Total ASEAN

Premiums

Penetration Ratio

Thailand 6,344 16,768 23,112 0.49% 28.54% 5.68%

Indonesia 4,611 18,475 23,086 0.49% 28.51% 2.48%

Malaysia 4,110 3,776 7,886 0.17% 9.74% 2.66%

Singapore 2,744 15,781 18,525 0.39% 22.88% 6.24%

Vietnam 1,630 2,223 3,853 0.08% 4.76% 1.90%

Philippines 1,543 2,647 4,190 0.09% 5.17% 1.37%

Myanmar 150 N/A N/A N/A N/A N/A

Brunei 126 82 208 0.00% 0.26% 1.83%

Lao 100 N/A N/A N/A N/A N/A

Cambodia 70 43 114 0.00% 0.14% 0.57%

Total 21,428 59,795 80,974 1.71% 100.00% 3.12%

*From AIC Estimation

29

MOTOR FIRE/PROPERTY MISCELLANEOUS MARINE TOTAL

TOP 1

THAILAND INDONESIA THAILAND INDONESIA THAILAND

TOP 2

MALAYSIA PHILIPPINES SINGAPORE SINGAPORE INDONESIA

TOP 3

INDONESIA VIETNAM INDONESIA MALAYSIA SINGAPORE

Source: AIC 2017 ASEAN Insurance Statistical Report

ASEAN TOP 3 MARKETS: 2016

Life & Non Life

Premiums IncomePopulation

ASEAN 10: Life & Non-Life Premiums Income vs. Population

Source : ASEANstats

: AIC 2017 ASEAN Insurance Statistical Report Exchange Rate : Annualize rate

634.5 Million

30

2,748,119 Million baht

Lao, 0.12%

Myanmar, 0.18%

Thailand, 23,112 , 28.45%

Indonesia, 23,086 , 28.42%

Singapore, 18,525 , 22.81%

Malaysia, 7,886 , 9.71%

Philippines, 4,190 , 5.16%

Vietnam, 3,853 , 4.74%

Brunei, 208 , 0.26%

Cambodia, 114 , 0.14%

Indonesia, 259, 40.77%

Philippines, 103, 16.27%

Viet Nam, 93, 14.61%

Thailand, 67, 10.63%

Myanmar, 53, 8.34%

Malaysia, 32, 4.99%

Cambodia, 15, 2.39%

Lao PDR, 7, 1.04%

Singapore, 6, 0.88%

Brunei, 0.423, 0.07%

Non-Life Insurance Industry in Asia 2016

Source: Swiss Re, Sigma No.3/2017

Continents

Non-Life Premium Gross Premium (Global

Ranking)

Premium Per GDP (%)

Premium Per Capita (US$)

GDP (Billion $US)

Population (Million)Million $US Share (%)

PR China 203,515 9.6% 2 1.8% 147.2 11,234 1,382.9

Japan 117,243 5.5% 4 2.4% 928.3 4,954 126.3

South Korea 66,694 3.2% 7 4.7% 1,312.9 1,414 50.8

India 17,493 0.8% 15 0.8% 13.2 2,272 1,328.8

Taiwan 16,952 0.8% 16 3.3% 721.4 508 23.5

Saudi Arabia 9,656 0.5% 24 1.5% 300.8 640 32.1

United Arab Emirates 7,789 0.4% 31 2.2% 837.5 357 9.3

Iran 7,293 0.3% 32 1.8% 91.2 401 80.0

Israel 7,010 0.3% 33 2.2% 854.9 318 8.2

Thailand 6,913 0.3% 34 1.7% 101.4 407 68.2 Malaysia 4,741 0.2% 37 1.6% 153.9 292 30.8

Indonesia 4,740 0.2% 38 0.5% 18.2 933 260.9

Hong Kong 4,508 0.2% 41 1.4% 609.2 321 7.4

Singapore 3,472 0.2% 44 1.2% 620.0 297 5.6

Qatar 2,889 0.1% 46 2.0% 1,256.1 147 2.3

Philippines 1,665 0.1% 51 0.5% 16.3 304 102.4

Vietnam 1,568 0.1% 53 0.8% 16.6 205 94.4

Others 9,119 0.4% NA 0.5% 10.9 1,735 834

Asia 493,260 23.3% NA 1.8% 113.3 26,737 4,353.7

EU 611,414 28.9% NA 3.1% 744.8 19,768 820.9

America 937,373 44.3% NA 3.7% 940.4 25,166 996.8

World 2,115,172 100.0% NA 2.8% 285.3 75,335 7,414.2

Remark: Life and non-life business areas in this sigma study are categorized according to standard EU and OECD conventions: health insurance is allocated to non-life insurance, even if it is classified differently in the individual countries 31

32

Source: Swiss Re, Sigma No.3/2017

Remark: Life and non-life business areas in this sigma study are categorized according to standard EU and OECD conventions: health insurance is allocated to non-life insurance, even if it is classified differently in the individual countries

Top 10, 3,595,897 ,

75.99%

Thailand, 22,044 , 0.47%

Other, 1,114,247 ,

23.55%

Total Premiums

Top 10, 1,995,280 , 76.24%

Thailand, 15,131 , 0.58%

Other, 606,605 , 23.18%

Life insurance Premiums

Top 10, 1,663,775 ,

78.66%

Thailand, 6,913 , 0.33%

Other, 444,484 , 21.01%

Non-Life Insurance Premiums

Global Insurance Market Share in 2016

33

ASEAN Non-Life Insurance: Incurred Loss Ratio in 2014 - 2016

36%

30%

43%

57%

39%

48% 47%

40%

35%

29%

49%

57%

40%

50% 50%

43%

51%

31%

44%

55%

43%

52%55%

35%

0%

10%

20%

30%

40%

50%

60%

Brunei Cambodia Indonesia Malaysia Philippines Singapore Thailand Vietnam

Source: AIC 2017 ASEAN Insurance Statistical Report

34

ASEAN Non-Life Insurance: Underwriting Results in 2014 - 2016

: in Million US$

16

745

346

214

332

457

1,268

19

770

341

236 227

331

1,444

21

898

356

257

128 208

1,630

-

200

400

600

800

1,000

1,200

1,400

1,600

1,800

Cambodia Indonesia Malaysia Philippines Singapore Thailand Vietnam

35

62,6

27

71,1

60

79,2

89

88,8

33

95,0

91

100,6

48

106,3

21

110,0

41

124,9

99

140,2

19

179,4

80

203,0

78

205,3

68

209,2

44

211,8

13

1,167 1,284 1,400 1,430 1,091 4064,157 2,670 1,935

-135,482

5,715

20,60516,212

11,6947,347

2,581 4,085 4,013 3,612 4,221 5,293 3,512 4,799 6,415

-129,982

14,442

22,899 21,710 18,235 14,798

(160,000)

(140,000)

(120,000)

(100,000)

(80,000)

(60,000)

(40,000)

(20,000)

0

20,000

40,000

2545 2546 2547 2548 2549 2550 2551 2552 2553 2554 2555 2556 2557 2558 2559

(160,000)

(120,000)

(80,000)

(40,000)

-

40,000

80,000

120,000

160,000

200,000

240,000

Direct Premium Underwriting Profit Net Profit After Tax

Unit: Million Baht

Underwriting Margin 1.86% 3.90% 1.55% 10.15% 3.47%

36

Members of Insurance Information and Ratemaking Forum of Asia (IIFRA)

37

Insurance Service Malaysia : ISM

Taiwan Insurance Institute : TII

General Insurance Rating Organization of Japan : GIROJ

Korea Insurance Development Institute : KIDI

Insurance Association of China : IAC

Otoritas Jasa Keuangan : OJK

Insurance Information Bureau of India : IIB

Insurance Premium Rating Bureau: IPRB

Members of Insurance Information and Ratemaking Forum of Asia (IIFRA)

38

Established 2535 (1992)


Industry services for Motor Compulsory and Voluntary Insurance in respect of:

Motor insurance data bankMotor insurance statistical reportsMotor Claims and Underwriting Exchange (CUE)Related services for Motor business

Data Center Hosting

Data management and software development

Reference Loss Cost Rates (RLCR)

Actuarial science study in respect of insurance products and pricings

Insurance market study and research center

39

Thai Insurance Research and Development Institute (TIRD)

สถาบนัวจิยัและพฒันาธุรกจิประกนัวนิาศภยัไทย



79

,28

9

88

,45

4

95

,28

7

10

0,8

88

10

6,2

39

11

0,0

28

12

5,0

75

13

8,3

87

17

9,5

96

20

3,1

20

20

5,3

68

20

9,2

44

21

5,7

28

21

8,4

34

55.16% 53.92% 55.37% 54.99%51.41% 51.93% 53.79%

176.41%

51.24%

41.98%47.01%

52.72% 55.26% 56.15%

0.0 0%

20. 00%

40. 00%

60. 00%

80. 00%

100 .00%

120 .00%

140 .00%

160 .00%

180 .00%

-

50,0 00

100 ,000

150 ,000

200 ,000

250 ,000

2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017

Direct Premium Loss Ratio


Figures: In Million Baht* Average Loss Ratio excluding 2011 Thailand Mega Flood

40

Thailand Non-Life Insurance: Frauds

*Exchange Rate @ 1US$ = 32 Baht

Baht 218 Billion X 56% (L/R) = Baht 122.7 Billion X 10% (Fraud Rate)

Losses due to Frauds = Baht 12,265 Million (USD 383 Million) Impact of 6% to L/R

การควบรวมกิจการของธุรกิจประกันวินาศภัยกลุ่มธุรกิจการเงินของ "เจริญ" รุกซื้อไทยประกันภัยทั้งหมด

ก่อนถอนออกจากตลาดทุ่ม 2.5 หมื่นล้าน ตัง้โฮลดิง้เข้าตลาดทางอ้อม.... https://www.posttoday.com/finance/insurance/550743https://www.posttoday.com/finance/insurance/550743

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42

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44

Documents

THAI NON-LIFE INSURANCE LANDSCAPENumbers of Insurance Companies in Thailand ( As of 30th June, 2018) Type of Business Local Company Foreign Branch Total Non-Life Insurance 50 5 55