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Research and Markets: Insight Report: Nascent Insurance Markets and Opportunities for Foreign Insurers 2014-2023DUBLIN --(Business Wire)-- Research and Markets (http://www.researchandmarkets.com/research/3bjxrc/insight_report) has announced the addition of the "Insight Report: Nascent Insurance Markets and Opportunities for Foreign Insurers" report to their offering. 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. Myanmar - Asia's final frontier economy Myanmar, described as the last frontier economy of Asia, began the conversion to a free market economy when its first elected democratic government came to power in March 2011. The new government ended decades of military junta rule nd isolation from the rest of the world. As a part of economic liberalization and economic reforms, the new government opened its insurance industry to private insurers in 2012 and is expected to open the market to foreign insurers in 2015. In 2012, the government authorized 12 domestic insurers to establish insurance businesses in the country. These insurers will complete their first year of operation in 2014. The untapped insurance industry of Cuba The insurance industry in Cuba was opened for private participation and foreign investment in 1997 under free-market economic reforms initiated by Fidel Castro's then-communist government. However, with the high level of political risk, the Cuban insurance industry is yet to be explored by foreign insurers. Only state-owned bodies such as Esicuba SA, Esen, Asistur SA and Heath Lambert de Cuba SA operate in the country. Beginning of a new life insurance market in Cambodia Cambodia ended decades of economic isolation in 2000, when it made the transition to a free market economy. This followed bold economic reforms and economic liberalization, which triggered rapid growth over the next decade. The non-life insurance segment was formally established in the country in 2003 with the entry of private insurers. It grew rapidly during its initial phase of development and generated premiums of US$35.6 million in 2012. The Cambodian insurance industry has substantial potential for growth and is expected to continue to grow over the next decade to become a US$200.0 million industry by 2023. As of May 2014, six non-life insurers operated in the segment. Key Topics Covered: 1 Executive Summary 2 Nascent Insurance Markets - Overview 3 The Myanmar Insurance Industry 4 The Cuban Insurance Industry 5 The Cambodian Insurance Industry 6 Appendix For more information visit http://www.researchandmarkets.com/research/3bjxrc/insight_report
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