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Life Insurance Industry in Portugal to 2017
 

Life Insurance Industry in Portugal to 2017

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Life Insurance Industry in Portugal @

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    Life Insurance Industry in Portugal to 2017 Life Insurance Industry in Portugal to 2017 Document Transcript

    • Life Insurance in Portugal, Key Trends and Opportunities to 2017 Synopsis The report provides in depth market analysis, information and insights into the Portuguese life insurance segment, including: The Portuguese life insurance segment’s growth prospects by life insurance categories Key trends and drivers for the life insurance segment The various distribution channels in the Portuguese life insurance segment Detailed competitive landscape in the life insurance segment in Portugal Detailed regulatory framework of the Portuguese insurance industry A description of the life reinsurance segment in Portugal Porter's Five Forces Analysis of the life insurance segment Benchmarking section on the Portuguese life insurance segment in comparison to other countries with gross written premium in the range of US$10 billion to US$40 billion Executive summary 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). 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 buy 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 Assess the competitive dynamics in the life insurance segment, along with the reinsurance segment Identify the growth opportunities and market dynamics within key product categories Gain insights into key regulations governing the Portuguese insurance industry and its impact on companies and the market's future Key highlights Portugal was ranked the 15th-largest life insurance segment in Europe in terms of gross written premium in Life Insurance in Portugal, Key Trends and Opportunities to 2017
    • 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. table Of Contents 1 Executive Summary 2 Introduction 2.1 What Is This Report About? 2.2 Definitions 2.3 Methodology 3 Regional Market Dynamics 3.1 Overview 3.1.1 Market Trends 3.1.2 Market Size 4 Life Insurance 4.1 Scale And Penetration 4.1.1 Total Gross Written Premium 4.1.2 Premium Per Capita 4.1.3 Life Insurance Penetration 4.2 Growth 4.2.1 Gross Written Premium 4.2.2 Gross Written Premium Per Capita 4.3 Efficiency And Risk 4.3.1 Loss Ratio 4.3.2 Combined Ratio 4.3.3 Incurred Losses Per Capita 4.3.4 Incurred Losses As A Percentage Of Gdp 4.4 Distribution Channels 4.4.1 Direct Marketing 4.4.2 Insurance Brokers 4.4.3 Bancassurance Life Insurance in Portugal, Key Trends and Opportunities to 2017
    • 4.4.4 Agencies 5 Portuguese Insurance Industry Attractiveness 5.1 Insurance Industry Size, 2008–2017 5.2 Key Industry Trends And Drivers 6 Life Insurance Outlook 6.1 Life Insurance Growth Prospects By Category 6.1.1 Individual Life Insurance 6.1.2 Individual General Annuity Insurance 6.1.3 Individual Pension 6.1.4 Individual Endowment Insurance 6.1.5 Individual Unit-linked Insurance 6.1.6 Individual Term Life Insurance 6.1.7 Other Individual Insurance 6.1.8 Group Life Insurance 6.1.9 Group Superannuation Insurance 6.1.10 Group Unit-linked Insurance 6.2 Life Insurance Growth Prospects By Product Type 6.2.1 Individual Single-premium Policies 6.2.2 Individual Non-single-premium Policies 6.2.3 Group Single-premium Policies 6.2.4 Group Non-single-premium Policies 7 Analysis By Distribution Channel 7.1 Direct Marketing 7.2 Bancassurance 7.3 Agencies 7.4 Brokers 7.5 Other Channels 8 Porter’s Five Forces Analysis – Portuguese Life Insurance 8.1 Bargaining Power Of Supplier: Low-to-medium 8.2 Bargaining Power Of Buyer: Medium 8.3 Barriers To Entry: Medium 8.4 Intensity Of Rivalry: Medium To High 8.5 Threat Of Substitutes: Low To Medium Life Insurance in Portugal, Key Trends and Opportunities to 2017
    • 9 Reinsurance Growth Dynamics And Challenges 9.1 Reinsurance Segment Size, 2008–2017 9.2 Reinsurance Segment Size By Type Of Insurance, 2008–2017 10 Governance, Risk And Compliance 10.1 Legislation Overview And Historical Evolution 10.2 Legislation And Market Practice By Type Of Insurance 10.2.1 Life Insurance 10.2.2 Property Insurance 10.2.3 Motor Insurance 10.2.4 Marine, Aviation And Transit Insurance 10.2.5 Personal Accident And Health Insurance 10.3 Compulsory Insurance 10.3.1 Motor Vehicle Third-party Liability Insurance 10.3.2 Air Carriers And Aircraft Operators Insurance 10.4 Supervision And Control 10.4.1 International Regulatory Authority 10.4.2 European Insurance And Occupational Pensions Authority 10.4.3 Portugal Insurance Institute 10.4.4 Portuguese Association Of Insurers 10.5 Non-admitted Insurance Regulations 10.5.1 Overview 10.5.2 Intermediaries 10.5.3 Market Practices 10.5.4 Fines And Penalties 10.6 Company Registration And Operations 10.6.1 Types Of Insurance Organization 10.6.2 Establishing A Local Company 10.6.3 Foreign Ownership 10.6.4 Types Of License 10.6.5 Capital Requirements 10.6.6 Solvency Margins 10.6.7 Reserve Requirements 10.6.8 Investment Regulations 10.6.9 Statutory Return Requirements 10.6.10 Fee Structure 10.7 Taxation 10.7.1 Insurance Premium Or Policy Taxation 10.7.2 Withholding Taxes On Premium Paid Overseas 10.7.3 Corporate Tax 10.7.4 Vat 10.7.5 Captives Life Insurance in Portugal, Key Trends and Opportunities to 2017
    • 10.8 Legal System 10.8.1 Introduction 10.8.2 Access To Court 10.8.3 Alternative Dispute Resolution (adr) 11 Competitive Landscape And Strategic Insights 11.1 Overview 11.2 Leading Companies In The Portuguese Life Insurance Segment 11.3 Comparison Of Top Five Insurers 11.3.1 Net Earned Premium 11.4 Companhia De Seguros Fidelidade Mundial Sa – Company Overview 11.4.1 Companhia De Seguros Fidelidade Mundial Sa – Key Facts 11.4.2 Companhia De Seguros Fidelidade Mundial Sa – Key Financials 11.5 Bes-vida Companhia De Seguros, Sa – Company Overview 11.5.1 Bes-vida Companhia De Seguros, Sa – Key Facts 11.5.2 Bes-vida Companhia De Seguros, Sa – Key Financials 11.6 Ocidental - Companhia Portuguesa De Seguros De Vida Sa – Company Overview 11.6.1 Ocidental - Companhia Portuguesa De Seguros De Vida Sa – Key Facts 11.6.2 Ocidental - Companhia Portuguesa De Seguros De Vida Sa – Key Financials 11.7 Santander Totta Seguros – Company Overview 11.7.1 Santander Totta Seguros – Key Facts 11.7.2 Santander Totta Seguros – Key Financials 11.8 Crédito Agrícola Vida – Companhia De Seguros Sa – Company Overview 11.8.1 Crédito Agrícola Vida – Companhia De Seguros Sa – Key Facts 11.8.2 Crédito Agrícola Vida – Companhia De Seguros Sa – Key Financials 11.9 Bpi Vida E Pensões - Companhia De Seguros Sa – Company Overview 11.9.1 Bpi Vida E Pensões - Companhia De Seguros Sa – Key Facts 11.9.2 Bpi Vida E Pensões - Companhia De Seguros Sa – Key Financials 11.1 Companhia De Seguros Allianz Portugal Sa – Company Overview 11.10.1 Companhia De Seguros Allianz Portugal Sa – Key Facts 11.10.2 Companhia De Seguros Allianz Portugal Sa – Key Financials 11.11 Companhia De Seguros Açoreana, Sa – Company Overview 11.11.1 Companhia De Seguros Açoreana, Sa – Key Facts 11.11.2 Companhia De Seguros Açoreana, Sa – Key Financials 11.12 Eurovida - Companhia De Seguros De Vida, Sa – Company Overview 11.12.1 Eurovida - Companhia De Seguros De Vida, Sa – Key Facts 11.12.2 Eurovida - Companhia De Seguros De Vida, Sa – Key Financials 11.13 Cnp Barclays Vida Y Pensiones, Compañia De Seguros, Sa – Company Overview 11.13.1 Cnp Barclays Vida Y Pensiones, Compañia De Seguros, Sa – Key Facts 12 Business Environment And Country Risk Life Insurance in Portugal, Key Trends and Opportunities to 2017
    • 12.1 Business Confidence 12.1.1 Market Capitalization Trend – Lisbon Stock Exchange, Portugal 12.2 Economic Performance 12.2.1 Gdp At Constant Prices (us$) 12.2.2 Gdp Per Capita At Constant Prices (us$) 12.2.3 Gdp At Current Prices (us$) 12.2.4 Gdp Per Capita At Current Prices (us$) 12.2.5 Agriculture, Hunting, Forestry And Fishing Net Output At Current Prices (us$) 12.2.6 Agriculture, Hunting, Forestry And Fishing Net Output At Current Prices As A Percentage Of Gdp 12.2.7 Manufacturing Net Output At Current Prices (us$) 12.2.8 Manufacturing Net Output At Current Prices As A Percentage Of Gdp 12.2.9 Mining, Manufacturing And Utilities At Current Prices (us$) 12.2.10 Mining, Manufacturing And Utilities At Current Prices, As A Percentage Of Gdp 12.2.11 Construction Net Output At Current Prices, (us$) 12.2.12 Construction Net Output At Current Prices As A Percentage Of Gdp 12.2.13 Inflation Rate 12.2.14 Merchandise Exports As A Percentage Of Gdp 12.2.15 Goods Imports As A Percentage Of Gdp 12.2.16 Exports Growth 12.2.17 Imports Growth 12.2.18 Annual Average Exchange Rate Eur–us$ 12.3 Infrastructure Quality And Availability 12.3.1 Commercial Vehicle Exports – Total Value 12.3.2 Commercial Vehicle Imports – Total Value 12.3.3 Automotive Exports – Total Value 12.3.4 Automotive Imports – Total Value 12.3.5 Total Internet Subscribers 12.4 Labor Force 12.4.1 Labor Force 12.4.2 Unemployment Rate 12.5 Demographics 12.5.1 Gross National Disposable Income (us$) 12.5.2 Household Consumption Expenditure (us$) 12.5.3 Total Population 12.5.4 Urban And Rural Populations 12.5.5 Age Distribution Of The Total Population 13 Appendix 13.1 Methodology 13.2 Contact Timetric 13.3 About Timetric 13.4 Timetric’s Services Life Insurance in Portugal, Key Trends and Opportunities to 2017
    • 13.5 Disclaimer ResearchMoz(http://www.researchmoz.us/) is the one stop online destination to find and buy market research reports & Industry Analysis. We fulfill all your research needs spanning across industry verticals with our huge collection of market research reports. We provide our services to all sizes of organizations and across all industry verticals and markets. Our Research Coordinators have in-depth knowledge of reports as well as publishers and will assist you in making an informed decision by giving you unbiased and deep insights on which reports will satisfy your needs at the best price. Contact: M/s Sheela, 90 State Street, Suite 700, Albany NY - 12207 United States Tel: +1-518-618-1030 USA - Canada Toll Free 866-997-4948 Email: sales@researchmoz.us Website: http://www.researchmoz.us/ Life Insurance in Portugal, Key Trends and Opportunities to 2017