New Release: Insurance Industry in Bhutan, Key Trends and Opportunities to 2017 : Market Research Reports

Synopsis

• The report provides in depth market analysis, information and insights into the insurance industry in Bhutan, including:
• The Bhutanese insurance industry’s growth prospects by insurance segments and categories
• The competitive landscape in the Bhutanese insurance industry
• The current trends and drivers of the Bhutanese insurance industry
• The challenges facing the Bhutanese insurance industry
• The regulatory framework of the Bhutanese insurance industry

Executive summary

Bhutan is among the poorest countries in the world, with around a quarter of the population living below the poverty line. The combination of a significantly large rural population, high levels of poverty and a low literacy rate is hindering the growth of the insurance industry in the country. However, the Bhutanese economy has grown rapidly between 2008 and 2012. GDP at current prices grew at a CAGR of 15.0% during the review period, benefiting the insurance industry, which grew in terms of gross written premium at a CAGR of 23.8% during the review period. Despite this impressive growth, insurance penetration remains very low, at 1.1% in 2012.

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Scope

• This report provides a comprehensive analysis of the insurance industry in Bhutan:
• It provides historical values for the Bhutanese insurance industry for the report’s 2008–2012 review period and forecast figures for the 2012–2017 forecast period
• It offers a detailed analysis of the key segments and categories in the Bhutanese insurance industry, along with industry forecasts until 2017
• It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, total investment income and retentions
• It outlines the key regulations affecting the insurance industry

Key highlights

• Non-life insurance drove the growth of the Bhutanese insurance industry during the review period
• The segment grew at a CAGR of 21.4% during the review period
• Increasing efforts by the government of Bhutan to improve regulatory and supervisory systems and financial literacy in the country will support the growth of insurance over the forecast period
• During the review period, strong growth in the insurance industry was driven by robust economic growth in the country
• The Royal Monetary Authority (RMA) of Bhutan, the country’s insurance industry regulator, launched a new regulatory framework for the industry in 2011

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Reasons to buy

• Make strategic business decisions using in depth historic and forecast industry data related to the Bhutanese insurance industry and each segment within it
• Understand the demand-side dynamics, key market trends and growth opportunities within the Bhutanese insurance industry
• Assess the competitive dynamics in the Bhutanese insurance industry
• Identify the growth opportunities and market dynamics within key segments
• Gain insights into key regulations governing the Bhutanese insurance industry and its impact on companies and the industry's future

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