Free Newsletters About Insurance!

Enter your Email

General Insurance Company In Malaysia - Emerging Foreign Multinationals

General Insurance Company In Malaysia

Almost every international insurance company has looked at opportunities in Asia and by now, most have some sort of presence. By the beginning of 2008, of the top 30, listed, non-Asian insurers in the world, 25 had established some form of life insurance operation in one or more Asian countries. Allstate, Great-West, Power, Loews, and Lincoln National are the only five insurers out of the top 30 not to have any Asian presence.

Large Insurance Companies In US - Well Established Foreign Multinationals

Large Insurance Companies In US

A handful of foreign multinationals such as AIG, Prudential (UK), ING, and Manulife, already have a sizeable share in a number of Asian markets and generate a significant proportion of their global profit from this region. However large their current market positions, these players still only occupy a small share of the overall Asian market, but their future growth potential remains very significant. Total market share of all foreign players across Asia is 25 percent in 2008, and we see this increasing to 30-35 percent within the next 10 years.

The leading multinational players share a number of characteristics. They all have big positions in the "first generation" of Asian markets that have been open to foreign companies (for example, Hong Kong, Singapore, and Taiwan), while some have been first movers in emerging markets such as Indonesia, the Philippines, and Thailand. They have built most of their operations organically, with only a handful of acquisitions over the years. All of them have built sizeable Asian management teams which are headquartered in Hong Kong.

Life Insurance Companies In Asia - Smaller Foreign And Local Players

Life Insurance Companies In Asia

Chasing the large incumbents are the smaller foreign and local players. Most of these players have a much shorter history than the incumbents, and they have accumulated only single-digit market shares over several years. The strategic imperatives for these players depend on whether they are in more mature or nascent markets.