Finaccord's report titled Commercial Non-Life Insurance Brokers in South-East Asia, plus the BrokerBASE™ and market data annexe that accompany it, investigate the importance of brokers in the distribution of non-life insurance for business and public sector clients in six countries in South-East Asia, namely Indonesia, Malaysia, the Philippines, Singapore, Thailand and Vietnam.
Brokers are the most important single distribution channel in this sector, and Finaccord’s research indicates that fees and commissions earned by brokers from commercial non-life insurance in these six countries were worth just over USD 700 million in 2014. Moreover, brokers are increasing their share of this market in most countries, often at the expense of tied agents, and are generally expected to continue growing their share in future.
This report first provides unique data for the size, segmentation and growth of the commercial non-life insurance market itself in each of the six countries in scope. It then quantifies the share of this market that is intermediated by brokers and ranks the leading brokers in each country according to their revenues from commercial non-life insurance in 2014, excluding income from other activities. This analysis is based on an investigation covering all significant insurance brokers in the region.
This report can be used in one or more of the following ways:
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Finaccord is a market research, publishing and consulting company specialising in insurance and other financial services. Finaccord is part of Aon Global Operations, Singapore Branch.