New Insurance research report from Timetric is now available from Fast Market Research
Boston, MA -- (SBWIRE) -- 04/17/2014 -- Liechtenstein's insurance industry is primarily driven by offshore business, and is the only insurance centre that offers insurance undertakings direct access to Switzerland and the European Economic Area (EEA) countries. Despite unfavorable demographics and economic factors, including a small population and GDP, Liechtenstein's insurance industry has undergone significant developments during the past decade and is being supported by the government's commercial links with Switzerland and increasing demand for life insurance policies in key overseas markets such as Italy, Germany and Switzerland. However, the industry posted a CAGR of -8.3% during the review period in terms of written premium value. The decline was largely a consequence of the expiry of the Italian tax amnesty of 2011, which resulted in sharp decline of insurance premiums in 2011. The life insurance segment, which accounted for 79.8% of Liechtenstein's insurance industry, registered a decline at a CAGR of -12.1% due to the Italian tax amnesty that affected the overall insurance industry.
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- Liechtenstein's insurance industry is primarily driven by offshore business and is the only insurance centre that offers insurance undertakings direct access to Switzerland and the European Economic Area (EEA) countries
- Liechtenstein's economy is relatively small within a global context; however, the country emerged as one of the leading destinations for businesses due its favorable regulatory frameworks and tax-free insurance policies
- The country has a robust regulatory framework to protect stakeholders' privacy, interests and protect against financial crime, while also encouraging foreign investment
- The life segment accounted for 79.8% of the total industry in 2012, followed by the non-life segment, with 12.5% and the personal accident and health segment with a share of 7.77%
- The volume of insurance providers increased from 35 in 2007 to 41 in 2012, of which 22 are life insurance firms, 14 are non-life providers and five are reinsurance companies
- Health insurance is compulsory in Liechtenstein
This report provides a comprehensive analysis of the insurance industry in Liechtenstein:
- It provides historical values for the Liechtenstein 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 categories in the Liechtenstein 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 Liechtenstein, and outlines the key regulations affecting them.
Reasons to Get this Report
Companies Mentioned in this Report: Valorlife Life Insurance Ltd, Baloise Life (Liechtenstein) AG, Elips Life AG,
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