Boston, MA -- (SBWIRE) -- 02/26/2014 -- The size and significance of the Norwegian non-life segment is relatively small compared to other countries in the Nordic region such as Denmark, Finland and Sweden. The Norwegian non-life segment's penetration was 1.5% in 2012, compared to Denmark's 2.9%, Finland's 1.9% and Sweden with 1.9% in the same year. This indicates a large potential customer base in the country. Norway is one of the best performing economies in the Nordic region. Unlike other countries in the region, Norway didn't experience a significant impact from the global financial crisis and the EU sovereign debt crisis, even though the country has numerous commercial links with EU member states and the country's exports are mainly to EU countries. Insurance providers in Norway incurred losses in 2009 as investment income declined sharply.
- The Norwegian non-life segment's penetration was 1.5% in 2012, compared to Denmark's 2.9%, Finland's 1.9% and Sweden with 1.9% in the same year
- Insurers in Norway incurred substantial losses in 2009 as investment income declined sharply, however, these companies recovered quickly and posted positive growth in the subsequent years
- Norway is prone to storms, hurricanes, major floods and landslides, meaning demand for insurance against natural disasters is high
- Agencies were the largest distributors of non-life policies in Norway in 2012, accounting for 36.6% of the total market commission
- The segment is highly concentrated, with the 10 leading companies collectively accounting for 93.0% of the segment's written premiums in 2012
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This report provides a comprehensive analysis of the non-life insurance segment in Norway:
- It provides historical values for Norway's non-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 Norway's non-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 non-life insurance products in Norway.
- Using Porter's industry-standard "Five Forces" analysis, it details the competitive landscape in Norway for the non-life insurance segment.
- It provides a detailed analysis of the reinsurance segment in Norway and its growth prospects.
- It profiles the top non-life insurance companies in Norway and outlines the key regulations affecting them.
Reasons to Get this Report
- Make strategic business decisions using in depth historic and forecast market data related to the Norwegian non-life insurance segment and each category within it
Companies Mentioned in this Report: Gjensidige Forsikring ASA, If Skadeforsikrin NUF, Tryg Forsikring, Sparebank 1 Forsikring, DNB Forsikring, Eika Forsikring AS, Codan Forsikring, Protector Forsikring ASA, Frende Skadeforsikring AS, Storebrand
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