New Financial Services market report from Timetric: "Life Insurance in Belgium, Key Trends and Opportunities to 2016"
Boston, MA -- (SBWIRE) -- 10/16/2012 -- Favorable demographic factors, including increased life expectancy and a large urban population base, will improve consumer confidence in investing in life insurance products, such as pension and endowment products, in an effort to get a modest long term return. In addition, Belgian consumers are expected to invest in unit-linked and pension products as the net asset value (NAV) of insurance products declines and are available at low prices due to the volatile stock market and economically challenging times. As a result, these products can be bought as a long term investment, which is predicted to provide a modest return in times of retirement and maturity of policy.
- Life insurance products linked to the stock market, such as unit-linked and pension insurance products, registered variable growth rates during the review period.
- Belgium and other European member states have been under tremendous pressure to improve business and economic conditions due to the ongoing sovereign debt crisis and instability in key markets.
- Slow growth was mainly due to the severe economic and political conditions in the country as a result of the rising sovereign debt and economic recession in 2011. However, a positive growth in PCADI can be expected over the forecast period with the support of improving macro and microeconomic fundamentals.
- The Belgian government encouraged foreign investment through various incentives such as lowering the corporate tax structure, national interest deduction, patent income relief and VAT grouping.
- Favorable demographic factors, including increased life expectancy and a large urban population base, will improve consumer confidence in investing in life insurance products, such as pension and endowment products, in an effort to get a modest long term return.
- A number of the world's leading insurers, such as AXA, Allianz and ING, expanded their geographical reach to Belgium and have strong positions in the market. Moreover, the Belgian government's strategies and the favorable regulatory environment for foreign direct investment encouraged enterprises to participate in the insurance business.
View Full Report Details and Table of Contents
This report provides a comprehensive analysis of the life insurance market in Belgium:
- It provides historical values for the Belgian life insurance market for the report's 2007-2011 review period and forecast figures for the 2012-2016 forecast period
- It offers a detailed analysis of the key sub-segments in the Belgian life insurance market, along with market forecasts until 2016
- 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 insurance products in Belgium
Companies Mentioned in this Report: AG Insurance, KBC Assurances, AXA Belgium, Dexia Insurance Belgium SA, Ethias, ING Life Belgium, Delta Lloyd Life Insurance Company, Allianz Belgium, Vivium Assurances, Generali Belgium
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