Boston, MA -- (SBWIRE) -- 08/08/2013 -- The size and importance of the Icelandic economy is relatively small in the Nordic region. However, the country came to 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. The market capitalization of the Icelandic Stock Market (ICEXI) also declined by 90% during the financial crisis. However, these events did not have a significant impact on the country's insurance industry. The prime reason for this was that the Icelandic insurance industry was dominated by the non-life insurance segment. Growth in non-life insurance is driven by the favorable regulatory framework. The Financial Supervisory Authority (FME) established several provisions relating to compulsory insurance and covers a wide range of categories such as motor and fire insurance.

View Full Report Details and Table of Contents

Key Highlights

- The size and importance of the Icelandic economy is relatively small in the Nordic region
- 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 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
- The FME is the government authority supervising insurance activities in Iceland

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 2008-2012 review period and forecast figures for the 2012-2017 forecast period
- It offers a detailed analysis of the key segments and sub-segments in the Icelandic insurance industry, along with forecasts until 2017
- 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 to the Icelandic insurance industry and each segment within it
- Understand the demand-side dynamics, key trends and growth opportunities within the Icelandic insurance industry
- Assess the competitive dynamics in 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.

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:

- The Insurance Industry in Jordan, Key Trends and Opportunities to 2017
- The Insurance Industry in Slovenia, Key Trends and Opportunities to 2017
- The Insurance Industry in Croatia, Key Trends and Opportunities to 2017
- The Insurance Industry in Estonia, Key Trends and Opportunities to 2017
- The Insurance Industry in Romania, Key Trends and Opportunities to 2017
- The Insurance Industry in Latvia, Key Trends and Opportunities to 2017
- The Insurance Industry in Uzbekistan, Key Trends and Opportunities to 2017
- The Insurance Industry in Bangladesh, Key Trends and Opportunities to 2017
- The Insurance Industry in Kuwait, Key Trends and Opportunities to 2017
- The Insurance Industry in Cyprus, Key Trends and Opportunities to 2017