New Insurance research report from Timetric is now available from Fast Market Research
Boston, MA -- (SBWIRE) -- 01/23/2014 -- The Belgian life insurance segment accounted for the largest proportion of gross written premiums in the country's insurance industry, with a share of 65.3% and was valued at EUR20.7 billion (US$26.6 billion) in 2012, after registering a CAGR of 1.7% during the review period (2008-2012). The slow growth was attributed to the sovereign debt crisis in the country that lasted the entire review period, which led to a rise in unemployment and a reduction in wages. It was further discouraged by political instability and a credit ratings downgrade by the leading rating agencies, Standard & Poor's and Moody's. Following the formation of a new government in December 2011, the economy and political situation improved. The International Monetary Fund (IMF) projects a positive economic development over the forecast period (2012-2017), with the life insurance segment expected to increase at a CAGR of 4.2% in terms of gross written premium value, from EUR20.7 billion (US$26.6 billion) in 2012 to EUR25.3 billion (US$32.3 billion) in 2017.
View Full Report Details and Table of Contents
- The economic crisis, political instability and increasing national debt all contributed towards the weak CAGR of 1.7% recorded by the life segment during the review period
- Individual unit-linked insurance was the fastest-growing category during the review period with a CAGR of 26.1%
- Belgium's distribution network of life insurance products comprises independent agencies, brokers, bancassurance and other distribution channels such as e-commerce, call centers and various government agencies such as post offices
- The Belgian insurance industry is regulated and supervised by the National Bank of Belgium (NBB) and the Financial Services and Markets Authority (FSMA)
- The life insurance segment consists of domestic and multinational insurers. The segment is highly concentrated with the 10 leading companies accounting for 85.5% of the total segment in terms of gross written premium income in 2012
This report provides a comprehensive analysis of the life insurance segment in Belgium:
- It provides historical values for Belgium's life insurance segment for the report's 2008-2012 review period and forecast figures for the 2012-2017 forecast period
- It offers a detailed analysis of the key categories in Belgium's life insurance segment, along with market forecasts until 2017
- It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, frauds and crimes, total assets, total investment income and retentions
- It analyses the various distribution channels for life insurance products in Belgium
- Using Porter's industry-standard "Five Forces" analysis, it details the competitive landscape in Belgium for the life insurance business
Companies Mentioned in this Report: AG Insurance, CBC Assurances, AXA Belgium, Belfius (Ex-Dexia), Ethias, Aras, Delta Lloyd Life, Allianz Belgium, ING Life, Vivium Assurances
About Fast Market Research
Fast Market Research is an online aggregator and distributor of market research and business information. Representing the world's top research publishers and analysts, we provide quick and easy access to the best competitive intelligence available. Our unbiased, expert staff will help you find the right research to fit your requirements and your budget. For more information about these or related research reports, please visit our website at http://www.fastmr.com or call us at 1.800.844.8156.
Browse all Insurance research reports at Fast Market Research
You may also be interested in these related reports:
- Life Insurance in Austria, Key Trends and Opportunities to 2017: The Austrian life segment's written premium fell from EUR7.4 billion in 2008 to EUR6.5 billion in 2012.
- Life Insurance in Russia, Key Trends and Opportunities to 2017
- Non-Life Insurance in Austria, Key Trends and Opportunities to 2017: The Austrian non-life segments written premium value grew from EUR6.5 billion in 2008 to EUR7.1 billion in 2012.
- Personal Accident and Health Insurance in Thailand, Key Trends and Opportunities to 2017
- Life Insurance in South Africa, Key Trends and Opportunities to 2017
- Life Insurance in China, Key Trends and Opportunities to 2017
- Life Insurance in India, Key Trends and Opportunities to 2017
- Non-Life Insurance in China, Key Trends and Opportunities to 2017
- Non-Life Insurance in India, Key Trends and Opportunities to 2017
- Non-Life Insurance in South Africa, Key Trends and Opportunities to 2017