Nascent Insurance Markets and Opportunities for Foreign Insurers

on Friday, 27 June 2014 include new market research report " Nascent Insurance Markets and Opportunities for Foreign Insurers: Industry Size, Shares, Growth, Analysis, Trends And Forecast" to its huge collection of research reports.

Insurance markets in developed countries are mature, with limited scope for growth. Insurers operating in these markets are therefore looking to new regions to expand and diversify. A nascent insurance market is one that is small and newly developing, and those that have been opened for foreign investment offer significant opportunities to foreign insurers.


  • The report covers nascent insurance markets and provides:
  • Insights into the Cambodian, Cuban and Myanmar insurance industries.
  • Detailed analysis of various factors driving growth in the insurance industries in Cambodia, Cuba and Myanmar, and different challenges posed by these economies.
  • Comprehensive analysis of the demographic and economic structures of these countries.
  • Insights of existing regulatory standards in these economies for foreign participation, non-admitted insurance, compulsory insurance and prudential standards.
  • Analysis of various opportunities and challenges for foreign insurers in Cambodia, Cuba and Myanmar.


  • This report covers growth opportunities in three nascent insurance markets: Cambodia, Cuba and Myanmar.
  • The private insurance industries in Cambodia, Cuba and Myanmar are new, and offer significant opportunities for foreign insurance companies.
  • The report analyzes key factors driving growth in the insurance industries in Cambodia, Cuba and Myanmar, and various risks associated with these economies.
  • The report also analyzes key socio-economic factors, and the regulatory environments of these economies.

Reasons to buy:

  • Gain insights into the nascent insurance markets of Cambodia, Cuba and Myanmar, which are untapped and offer a huge growth potential
  • Assess the growth potential of these markets, and the opportunities for foreign insurance companies
  • Understand various factors driving growth in the insurance industry, and different challenges posed by these markets
  • identify various approaches to enter these markets, and capitalise on the available opportunities

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Key highlights:

  • The Myanmar insurance industry was opened to private operators in late 2012. In an effort to establish a private insurance market in the country, in September 2012 the IBSB granted conditional approval to 12 of 20 applicants intending to carry on insurance business in the country. Of these, three intend to provide only life insurance services and nine intend to operate both life and non-life insurance business.
  • The government in Myanmar is yet to permit FDI in the insurance industry. Domestic insurers will be given one to two years to establish themselves before the market is opened to foreign insurers. This will enable domestic insurers to compete with foreign insurers once the industry is opened up. The government is expected to permit FDI from 2015 onwards.
  • According to Reuters’ estimates, based on economic data and benchmarking with neighboring countries, Myanmar has the potential to generate MMK1.3 trillion (US$1.6 billion) of insurance premium revenue every year. The Asia Insurance Review projects that the Myanmar insurance industry is expected to generate MMK2.4 trillion (US$2.8 billion) of insurance premium in 2030. 

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