Fast Market Research recommends "The Insurance Industry in Iceland, Key Trends and Opportunities to 2016" from Timetric, now available

Boston, MA -- (SBWire) -- 03/07/2013 --The size and importance of the Icelandic economy is relatively small in the Nordic region. However, the country came into prominence during the 2008 financial crisis after its three major commercial banks collapsed and had to be refinanced by the government. This had serious consequences for the Icelandic economy with the per capita disposable income and national currency decelerating sharply. In addition, the market capitalization of the Icelandic Stock Market (ICEXI) declined by over 90% during the financial crisis. However, these events did not have any significant impact on the country's insurance industry. The prime reason for this was that the Icelandic insurance industry is dominated by the non-life insurance segment, which accounted for 87.4% of the overall insurance industry's written premium in 2011. The growth in non-life insurance is driven by the favorable regulatory framework.

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Key Highlights

- The size and importance of the Icelandic economy is relatively small in the Nordic region.
- However, the country came into prominence during the 2008 financial crisis after its three major commercial banks collapsed and had to be refinanced by the government.
- This had serious consequences for the Icelandic economy with the per capita disposable income and national currency decelerating sharply.
- In addition, the market capitalization of the Icelandic Stock Market (ICEXI) declined by over 90% during the financial crisis.
- However, these events did not have any significant impact on the country's insurance industry.
- The prime reason for this was that the Icelandic insurance industry is dominated by the non-life insurance segment, which accounted for 87.4% of the overall insurance industry's written premium in 2011.
- The growth in non-life insurance is driven by the favorable regulatory framework

Scope

This report provides a comprehensive analysis of the insurance industry in Iceland:

- It provides historical values for the Icelandic insurance industry for the report's 2007-2011 review period and forecast figures for the 2011-2016 forecast period
- It offers a detailed analysis of the key segments and sub-segments in the Icelandic insurance industry, along with forecasts until 2016
- It covers an exhaustive list of parameters, including written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, total assets, total investment income and retentions
- It profiles the top insurance companies in Iceland, and outlines the key regulations affecting them

Reasons to Get this Report

- Make strategic business decisions using in-depth historic and forecast industry data related in the Icelandic insurance industry and each segment within it
- Understand the demand-side dynamics, key trends and growth opportunities within the Icelandic insurance industry

Companies Mentioned in this Report: Sjova-Almennar liftryggingar hf. Kt, Tryggingamiðstoðin hf., VIS Insurance Ltd (Vatryggingafelag Islands hf.), Guard Life Insurance Ltd, Liftryggingamiðstoðin hf.

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