Thailand Life Insurance Market Summary, Competitive Analysis and Forecast to 2027
Summary
Life Insurance in Thailand industry profile provides top-line qualitative and quantitative summary information including: market size (value 2017-22, and forecast to 2027). The profile also contains descriptions of the leading players including key financial metrics and analysis of competitive pressures within the market.
Key Highlights
- The value of the life insurance market is shown in terms of gross premium incomes from mortality protection and retirement savings plans.
- The Thai life insurance market had total gross written premiums of $16.4 billion in 2022, representing a compound annual growth rate (CAGR) of -1.1% between 2017 and 2022.
- The Life Insurance segment accounted for market's the largest proportion in 2022, with total gross written premiums of $11.6 billion, equivalent to 70.7% of the market's overall value.
- In March 2022, AIA Thailand, the nation's largest life insurer, said that it will enhance its digital presence to keep up with the shifting trends. Personalization, product innovation, and digitization are gaining hold in Thailand's life insurance business. The performance of the market is forecast to accelerate, with an anticipated CAGR of 4.8% for the five-year period 2022 - 2027, which is expected to drive the market to a value of $20.7 billion by the end of 2027.
- Save time carrying out entry-level research by identifying the size, growth, major segments, and leading players in the life insurance market in Thailand
- Use the Five Forces analysis to determine the competitive intensity and therefore attractiveness of the life insurance market in Thailand
- Leading company profiles reveal details of key life insurance market players’ global operations and financial performance
- Add weight to presentations and pitches by understanding the future growth prospects of the Thailand life insurance market with five year forecasts
- What was the size of the Thailand life insurance market by value in 2022?
- What will be the size of the Thailand life insurance market in 2027?
- What factors are affecting the strength of competition in the Thailand life insurance market?
- How has the market performed over the last five years?
- What are the main segments that make up Thailand's life insurance market?
- 1 Executive Summary
- 1.1. Market value
- 1.2. Market value forecast
- 1.3. Category segmentation
- 1.4. Geography segmentation
- 1.5. Market share
- 1.6. Market rivalry
- 1.7. Competitive landscape
- 2 Market Overview
- 2.1. Market definition
- 2.2. Market analysis
- 3 Market Data
- 3.1. Market value
- 4 Market Segmentation
- 4.1. Category segmentation
- 4.2. Geography segmentation
- 5 Market Outlook
- 5.1. Market value forecast
- 6 Five Forces Analysis
- 6.1. Summary
- 6.2. Buyer power
- 6.3. Supplier power
- 6.4. New entrants
- 6.5. Threat of substitutes
- 6.6. Degree of rivalry
- 7 Competitive Landscape
- 7.1. Market share
- 7.2. Who are the leading players?
- 7.3. What strategies do leading players follow?
- 7.4. What has been the rationale behind recent M&A activity?
- 7.5. How has the COVID-19 outbreak impacted leading players?
- 8 Company Profiles
- 8.1. AIA Thailand
- 8.2. FWD Life Insurance Public Co Ltd
- 8.3. Thai Life Insurance Public Company Ltd
- 8.4. Muang Thai Life Assurance Public Co Ltd
- 9 Macroeconomic Indicators
- 9.1. Country data
- 10 Appendix
- 10.1. Methodology
- 10.2. Industry associations
- 10.3. Related MarketLine research
- 10.4. About MarketLine
- List of Tables
- Table 1: Thailand life insurance market value: $ billion, 2017-22
- Table 2: Thailand life insurance market category segmentation: % share, by value, 2017–2022
- Table 3: Thailand life insurance market category segmentation: $ billion, 2017-2022
- Table 4: Thailand life insurance market geography segmentation: $ billion, 2022
- Table 5: Thailand life insurance market value forecast: $ billion, 2022-27
- Table 6: Thailand life insurance market share: % share, by value, 2022
- Table 7: AIA Thailand: key facts
- Table 8: AIA Thailand: Key Employees
- Table 9: FWD Life Insurance Public Co Ltd: key facts
- Table 10: FWD Life Insurance Public Co Ltd: Key Employees
- Table 11: Thai Life Insurance Public Company Ltd: key facts
- Table 12: Thai Life Insurance Public Company Ltd: Key Employees
- Table 13: Thai Life Insurance Public Company Ltd: Key Employees Continued
- Table 14: Muang Thai Life Assurance Public Co Ltd: key facts
- Table 15: Muang Thai Life Assurance Public Co Ltd: Key Employees
- Table 16: Thailand size of population (million), 2018–22
- Table 17: Thailand gdp (constant 2005 prices, $ billion), 2018–22
- Table 18: Thailand gdp (current prices, $ billion), 2018–22
- Table 19: Thailand inflation, 2018–22
- Table 20: Thailand consumer price index (absolute), 2018–22
- Table 21: Thailand exchange rate, 2017–21
- List of Figures
- Figure 1: Thailand life insurance market value: $ billion, 2017-22
- Figure 2: Thailand life insurance market category segmentation: $ billion, 2017-2022
- Figure 3: Thailand life insurance market geography segmentation: % share, by value, 2022
- Figure 4: Thailand life insurance market value forecast: $ billion, 2022-27
- Figure 5: Forces driving competition in the life insurance market in Thailand, 2022
- Figure 6: Drivers of buyer power in the life insurance market in Thailand, 2022
- Figure 7: Drivers of supplier power in the life insurance market in Thailand, 2022
- Figure 8: Factors influencing the likelihood of new entrants in the life insurance market in Thailand, 2022
- Figure 9: Factors influencing the threat of substitutes in the life insurance market in Thailand, 2022
- Figure 10: Drivers of degree of rivalry in the life insurance market in Thailand, 2022
- Figure 11: Thailand life insurance market share: % share, by value, 2022
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