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The group’s competitive position is assessed at very strong levels, reflecting the long-standing market leading position of Forte Insurance in the local short term insurance market. In this respect, the underwriter continued to post double-digit growth over the past 3 years, commanding very strong market and relative market shares of c. 44.8% and 6.7x (FY19: 43.4% and 5.6x) respectively.
The business mix of the consolidated entity reflects good product diversification, with three (four) lines of business contributing materially to GWP (NWP) in FY20. Premiums are predominantly sourced from the primary market, Cambodia, accounting for a lower 92% of GWP (FY19: 94%), with the balance coming from Lao PDR. Growing exposure to an external market through the Lao PDR based subsidiary is positively considered.