The Banking & Insurance sector – often referred to as the lifeblood of the real economy – is of vital importance in the modern credit-driven economic growth model. Among its functions are intermediation between savers and borrowers, ensuring funds are allocated efficiently; support of payment and settlement systems that facilitate trade and international economic relations; and provision of various products that mitigate risk and uncertainty. The accelerating pace of technological change, stricter regulation and shifting consumer habits are reshaping the traditional banking model and pushing the sector towards innovation-led growth.
Activities associated with Banking & Insurance are depositary and non-depositary credit intermediation and related activities, investment banking, securities brokerage, commodity contracts dealing and diverse financial investment activities. The sector also includes insurers, re-insurers and insurance brokerages, pension funds, health and welfare funds, monetary authorities, stock exchanges, and collection and credit agencies.
Brazil’s insurance sector continued to grow in 2018, albeit at a slower pace, against an accelerating economy and record-low interest rates. During the year, total insurance premium income rose by 3.7% y/y to BRL 444.9bn, propelled by an uptick ...View more details
According to statistics published by the China Banking and Insurance Regulatory Commission (CBIRC) – the country’s recently restructured financial regulator – the total assets of the banking sector rose by 8.7% y/y in 2017, reaching ...View more details
The Philippines insurance sector is one of the least developed in the ASEAN region, with insurance penetration and density significantly lower than those in some other large ASEAN countries including Indonesia and Thailand. However, incomes in the ...View more details
In 2018, written premiums in Colombia rose by 4.9% nominally, 1.7% y/y in real terms, its lowest growth rate since 2013. At the same time, the rise of the value of written premiums for 2018 was estimated at about 2% in real terms globally, according ...View more details
As the negative impact from the life product restructuring continued to diminish, China’s insurance sector reported a stronger growth during Q4 2018. Total insurance premiums reached RMB 735.5bn in Q4, registering a y/y increase of 20.1%, about ...View more details
The Thai economy has been robust over the past few years and this has translated to higher incomes for the growing middle class. Thailand is also one of the fastest aging societies in Asia. Finally, insurance penetration in Thailand remained ...View more details
The Malaysian insurance sector is unique in the ASEAN region as takaful operators – which provide insurance consistent with shariah principles – compete directly with conventional insurers in the market. Despite the relatively high level ...View more details
The Philippines banking sector remains in a nascent stage of development, and most Filipinos tend to engage in financial activities using less formal channels such as pawnshops. Nonetheless, the banking sector has been expanding its services to ...View more details
Chile’s banking sector is one of the most developed and competitive in Latin America. It is deep, solvent and highly integrated with the global economy. After two years of deceleration, banking activity has started to gain pace since the second ...View more details
As at the end of 2017, the Thai banking sector consisted of a total of 30 commercial banks comprising both domestic banks and branches of foreign lenders. Thai banks dominate the sector, and the five largest banks collectively account for the ...View more details