Insurance in the frontier markets Žoutheast ‘sia frontier insurance markets: Œam odia… ›aos… ˜yanmar and ªietnam ˆhe Œ˜›ª countries are Œam odia… ›aos… Œ›˜ª refers to Œam odia… ›aos… ˜yanmar and ªietnam‡ ˆhey are four of the smaer ˜yanmar and ªietnam‡ markets in Žoutheast ‘sia and have seen sinificant deveoment in recent years‡ Figure ‰ Œam odia… ›aos… ˜yanmar and ªietnam Laos Vietnam Myanmar Cambodia Žource: Žwiss ‹e‡ conomic deeloment Economic rowth in the Œ›˜ª countries ˆhe Œ›˜ª markets have on averae rown y ¢‡2 in rea terms each year since is imrovin‡ 2000‡ ªietnam is the iest of the four markets… accountin for ¢1 of tota €‚ƒ in 201™… foowed y ˜yanmar at 1‡ ‰oth ›aos and Œam odia reresent ess than ¢ of Œ›˜ª €‚ƒ‡ Economic rowth has remained sta e at around 6†¢ in the four markets in recent years… suorted y sta iisin oitica conditions and desite the o a financia crisis and increasin financia voatiity‡ In Œam odia… there has een imroved oitica sta iity since the oosition Œam odia Nationa ‹escue ƒarty ŒN‹ƒ„ ended its 10†month oycott of ariament in ‘uust 2014‡ ˆhis is exected to enefit economic rowth… ift investor confidence… encourae forein direct investment… ena in the ruin Œam odia ƒeoe’s ƒarty Œƒƒ„ to focus on state enterrise reforms… tax consoidation and romotin rivate investment‡ —urther… radua trade interation into the ‘ssociation of Žoutheast ‘sian Nations ‘ŽE‘N„ wi he exorts… which have een damened y the economic sowdown in Œhina and downturn in Euroe‡ ›aos has rich enery resources‡ ˆhe diversity of economic deveoment in the reion is refected in a reativey hih incidence of overty in some markets‡ —or instance… desite imressive rowth in recent years… ›aos remains oor and reiant on internationa aid‡ ˆhe ¥nited Nations reorts that ¡¡‡’ of the country’s ouation ive on ess than ¥Ž‚ 1‡2™ er day‡26 ƒower shortaes… oor transort infrastructure… a ow eve of human caita… and corrution have draed on deveoment‡ ”n the other hand… ›aos is aready one of the iest enery exorters in Žoutheast ‘sia and the overnment eieves ony of the enery caacity has een taed‡ ˆhe overnment’s aim is to uid additiona hydroeectric dams and eventuay ecome the “ attery of Žoutheast ‘sia”‡ 26 illennium Development Goals Database… ¥N Žtatistics ‚ivision… 201™ htt://mds‡un‡or/unsd/md/ ‚ata‡asx 1 Swiss Re sigma No 2/2016
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