Bhutan Insurance Industry – Key Trends and Opportunities to 2025
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The gross written premium of Bhutan insurance market was $48.2 million in 2021. The market is expected to grow at a CAGR of more than 7% during the forecast period. Bhutan has sustained growth due to the development of the hydroelectric sector and the dynamism of the tourism sector. The main source of revenue is the sale of electricity to India. Inflation is expected to remain elevated due to higher prices for food and transportation, and is closely linked to the Indian economy, as Bhutan’s domestic currency is pegged to the Indian rupee.
The Bhutan insurance market report provides in-depth market analysis, information, insights, and a detailed outlook by product category of the industry. It provides values for key performance indicators such as gross written premium, retail and commercial split, premium accepted and ceded, and profitability ratios during the review period and forecast period. The report also gives a comprehensive overview of Bhutan’s economy and demographic, COVID-19 impact on the industry.
Bhutan insurance market overview
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What are the key trends in the Bhutan insurance market?
Telemedicine has grown in Bhutan as the government has taken initiatives for a better infrastructure in medical facilities and to allow people access to health services more easily. Amid the COVID-19 pandemic, the government had the essential healthcare package of services delivered at the doorstep of each household through mobile clinics and telemedicine facilities. The country is actively engaged in digital health strategy reforms aimed at improving the efficiency of the health information system.
The agricultural insurance class is expected to grow exponentially, with the support of regulatory improvements and a rise in the advent of digitalization. Weather index-based or parametric insurance also has a scope of opportunities in the country for insuring against extreme weather and agriculture risks.
What are the key segments of the Bhutan insurance market?
The key segments of the Bhutan insurance market are life insurance and general insurance. Life insurance dominates the Bhutan insurance market.
Bhutan insurance market, by segments
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What are the key companies in the Bhutan insurance market?
Some of the key insurance companies in Bhutan are Royal Insurance Corporation of Bhutan and Bhutan Insurance Company Limited.
Bhutan insurance market, by companies
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Market Report Scope
Market size (2021) | $48.2 million (GWP) |
CAGR | >7% |
Forecast period | 2020-2025 |
Key segments | Life Insurance and General Insurance |
Key companies | Royal Insurance Corporation of Bhutan and Bhutan Insurance Company Limited |
This report provides:
- Comprehensive analysis of the Bhutan insurance industry.
- Historical values for the Bhutanese insurance industry for the report’s 2016-2020 review period, and projected figures for the 2020-2025 forecast period.
- A detailed analysis of the key categories in the Bhutanese insurance industry, and market forecasts to 2025.
- Top life insurance companies in Bhutan and outlines the key regulations affecting them.
Reasons to Buy
- Make strategic business decisions using in-depth historic and forecast market data related to the Bhutanese insurance industry, and each category within it.
- Understand the demand-side dynamics, key market trends and growth opportunities in the Bhutanese insurance industry.
- Assess the competitive dynamics in the Bhutanese insurance industry.
- Identify growth opportunities and market dynamics in key product categories.
Bhutan Insurance Company Limited
Table of Contents
Frequently asked questions
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What was the Bhutan insurance market size in 2021?
The gross written premium of Bhutan insurance market was $48.2 million in 2021.
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What is the Bhutan insurance market growth rate?
The insurance market in Bhutan is expected to grow at a CAGR of more than 7% during the forecast period.
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What are the key segments in the Bhutan insurance market?
The key segments in the Bhutan insurance market are life insurance and general insurance.
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What are the key companies in the Bhutan insurance market?
Some of the key insurance companies in Bhutan are Royal Insurance Corporation of Bhutan and Bhutan Insurance Company Limited.
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