Increasing demand on the back of an expanding middle class and growing awareness of services will drive growth in Thailand’s insurance sector, though short-term prospects may be muted by a cooling of the economy.
Asia Financial Services
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Preparations for the launch of a standalone stock exchange in Brunei Darussalam look to be moving ahead, supported by progress on a regulatory framework for the bourse.
Rising demand for credit across Vietnam’s private sector is expected to drive bank loan books above the highs recorded last year.
Increased product awareness and sustained economic expansion are fuelling double-digit growth in the Philippines’ insurance sector, as the emergence of micro-insurance products helps boost penetration rates and premiums.
Rising income levels and a growing awareness among Vietnamese citizens of the benefits of insurance is on track to steer the industry to double-digit growth in 2016.
Consolidation will remain headline news in the Philippine banking sector in 2016, with mergers and acquisitions expected among smaller lenders, particularly in rural areas.