Page 27 - AEC Digital Edition

ASEAN MARKET REPORTS

Brunei

General Information

Land Area 5,265 sq km.
Climate Tropical; hot, humid, rainy.
Capital Bandar Seri Begawan.
Form of Government Constitutional Sultanate.
Chief of State and Head of Government Sultan and Prime Minister Sir HASSANAL Bolkiah.
Population (July 2014 est) 422,675.
Population Growth Rate (2014 est) 1.65%.
Ethnic Composition (2011 est) Malay 65.7%, Chinese 10.3%, other indigenous 3.4%, other 20.6%.
Religious Affiliation (2011 est) Muslim (official) 78.8%, Christian 8.7%, Buddhist 7.8%, other (includes indigenous
beliefs) 4.7%.
Birth Rate (2014 est) per 1,000 population 17.49 births.
Death Rate (2014 est) per 1,000 population 3.47 deaths.
Infant Mortality Rate (2014 est) per 1,000 live births 10.48 deaths.
Life Expectancy at Birth (2014 est) Male 74.46 years; Female 79.19 years.

Economy

Monetary Unit 1 Brunei dollar (B$) = 100 cents.
Exchange Rate (18 June 2015) US$1 = B$1.33573.
GDP purchasing power parity (2014 est) US$32.11 billion.
GDP per capita (2014 est) US$77,700.

Insurance market structure

Number of registered insurers 2013 2014 Non-life insurance
2012

General insurers 8 66 (US$ mln & %) 2012 2013 2014
Life insurers 5 33 Gross written premium 147 145 147

General takaful operators 0 22 Gloss claims 36 47 41

Family takaful operators 0 22 Retention ratio 165.0% 62.5% 62.5%

Total 13 13 13 Incurred loss ratio 40.0% 39.9% 35.8%

Underwriting results 1.9 NA NA

Life insurance Total assets 214 291 254

Net written premiums 2012 2013 2014 Non-life – Gross written premiums by class of business
75 99 86
(US$ mln) 75 99 86 160
First year premiums (less refund) 140
Total (including single premium)
Net written premiums (US$ mln) 120
Gross written premiums (US$ mln)
Life – Net written premiums 100 Total

120 80 Motor
Fire
100 60 Marine,
aviation
40 & transit

80 20

60 2007 2008 2009 2010 2011 2012 2013 2014
40 75 99 86

20 First year premiums
(less refund)
2012 2013 2014
Source: 2015 ASEAN Insurance Statistical Report

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