New Insurance market report from Timetric: "Life Insurance in Portugal, Key Trends and Opportunities to 2017"

Boston, MA -- (SBWire) -- 01/09/2014 --Weak economic environment and rising unemployment, on account of the financial crisis and the subsequent sovereign debt crisis, led to a decline in Portuguese life insurance product sales during the review period (2008-2012). Endowments and pensions were the largest categories in the segment, collectively accounting for 81.8% of the gross written premium in 2012. Economic recovery, an aging population and declining government benefits due to austerity measures are expected to encourage investments in long-term saving products over the forecast period (2012-2017).

Key Highlights

- Portugal was ranked the 15th-largest life insurance segment in Europe in terms of gross written premium in 2011
- The Portuguese insurance industry is dominated by the life segment, which accounted for 66.1% of the gross written premiums in 2012
- The poor economic environment and high unemployment, on account of the financial crisis and sovereign debt crisis, led to a decline in the sale of life insurance products during the review period
- The segment contracted at a review-period CAGR of 9.5%, from EUR10.0 billion (US$14.7 billion) in 2008 to EUR6.7 billion (US$8.7 billion) in 2012
- Bancassurance was the preferred distribution channel in the segment
- The life segment is highly concentrated, with the 10 leading life insurers collectively accounting for 90.2% of the segment's written premiums in 2012

View Full Report Details and Table of Contents

Scope

This report provides a comprehensive analysis of the life insurance segment in Portugal:

- It provides historical values for the Portuguese 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 sub-segments in the Portuguese life insurance segment, along with 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 Portugal
- Using Porter's industry-standard "Five Forces" analysis, it details the competitive landscape in Portugal for the life insurance business
- It provides a detailed analysis of the reinsurance segment in Portugal and its growth prospects
- It profiles the top life insurance companies in Portugal 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 Portuguese life insurance segment and each category within it
- Understand the demand-side dynamics, key market trends and growth opportunities within the Portuguese life insurance segment

Companies Mentioned in this Report: Companhia de Seguros Fidelidade Mundial SA, BES-Vida Companhia de Seguros, SA, Ocidental - Companhia Portuguesa de Seguros de Vida SA, Santander Totta Seguros, Credito Agricola Vida - Companhia de Seguros SA, BPI Vida e Pensoes - Companhia de Seguros SA, Companhia de Seguros Allianz Portugal SA, Companhia de Seguros Acoreana, SA, Eurovida - Companhia de Seguros de Vida, SA, CNP Barclays Vida y Pensiones, Compania de Seguros, SA

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