Non-Life Insurance in Luxembourg to 2017:Industry Growth Report
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Non-Life Insurance in Luxembourg to 2017:Industry Growth Report

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Non-Life Insurance in Luxembourg to 2017:Industry Growth Report

Non-Life Insurance in Luxembourg to 2017:Industry Growth Report
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Non-Life Insurance in Luxembourg to 2017:Industry Growth Report Non-Life Insurance in Luxembourg to 2017:Industry Growth Report Document Transcript

  • Non-Life Insurance in Luxembourg, Key Trends and Opportunities to 2017 Synopsis The report provides in-depth market analysis, information and insights into the Luxembourg non-life insurance segment, including: The Luxembourg non-life insurance segment’s growth prospects by non-life insurance categories Key trends and drivers for the non-life insurance segment The various distribution channels in the Luxembourg non-life insurance segment The detailed competitive landscape in the non-life insurance segment in Luxembourg Detailed regulatory policies of the Luxembourg insurance industry A description of the non-life reinsurance segment in Luxembourg Porter's Five Forces analysis of the non-life insurance segment Executive summary Luxembourg is amongst the world’s most developed economies, and has the highest domestic per capita income. The global financial and eurozone debt crises affected the country’s financial sector during the review period. In 2009, a decline of 4.1% at current prices was recorded in GDP, but the economy recovered to expand by 2.9% in 2010 and 1.7% in 2011. Marred by troubles in other eurozone economies, GDP growth moderated to 0.3% in 2012 and a stable housing and automobile industry supported growth in the non-life segment. The segment posted a compound annual growth rate (CAGR) of 2.3% during the review period. The segment is highly competitive, with 42 operational insurers – 31 domestic and 11 foreign – as of 2012. The Commissariat aux Assurances (CA) is the regulator of Luxembourg’s insurance industry. Scope This report provides a comprehensive analysis of the non-life insurance segment in Luxembourg: It provides historical values for Luxembourg’s non-life insurance segment for the report’s 2008–2012 review period and projected figures for the 2012–2017 forecast period. It offers a detailed analysis of the key categiories in Luxembourg’s non-life insurance segment, along with market 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 non-life insurance products in Luxembourg. Using Porter’s industry-standard “Five Forces” analysis, it details the competitive landscape in Luxembourg for the non-life insurance segment. It provides a detailed analysis of the reinsurance segment in Luxembourg and its growth prospects. It profiles the top non-life insurance companies in Luxembourg 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 Luxembourg non-life insurance segment and each category within it. Understand the demand-side dynamics, key market trends and growth opportunities within the Luxembourg non-life insurance segment. Assess the competitive dynamics in the non-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 Luxembourg insurance industry and its impact on companies and the market's future. Key highlights Luxembourg’s non-life segment is the second-largest in the insurance industry, accounting for 10.3% of the total gross written premium generated in 2012 In 2012, property insurance accounted for 43.7% of the gross written premium, followed by motor insurance with a share of 27% Brokers and agencies were the preferred distribution channels for non-life insurers in Luxembourg Companies are focusing on reducing costs and improving efficiency to generate sufficient profit margins The Luxembourg non-life insurance segment comprises both domestic and foreign insurers The segment is highly concentrated with top 10 companies accounting for 92.3% of the total non-life segment, in terms of written premium table Of Contents 1 Executive Summary 2 Introduction 2.1 What Is This Report About? 2.2 Definitions 2.3 Methodology 3 Luxembourg Insurance Industry Attractiveness 3.1 Insurance Industry Size, 2008–2017 3.2 Key Industry Trends And Drivers 4 Non-life Insurance Outlook 4.1 Non-life Insurance Growth Prospects By Category 4.1.1 Property Insurance 4.1.2 Fire And Allied Perils Insurance 4.1.3 Engineering Insurance 4.1.4 Agriculture Insurance 4.1.5 Other Property Insurance 4.2 Motor Insurance 4.2.1 Motor Hull Insurance 4.2.2 Motor Third-party Insurance 4.3 General Third-party Insurance 4.4 Marine, Aviation And Transit Insurance Non-Life Insurance in Luxembourg, Key Trends and Opportunities to 2017
  • 4.4.1 Marine Insurance 4.4.2 Marine Hull Insurance 4.4.3 Marine Third-party Insurance 4.4.4 Aviation Insurance 4.4.5 Transit Insurance 5 Analysis By Distribution Channels 5.1 Direct Marketing 5.2 Bancassurance 5.3 Agencies 5.4 E-commerce 5.5 Brokers 5.6 Other Channels 6 Porter’s Five Forces Analysis – Luxembourg Non-life Insurance Segment 6.1 Bargaining Power Of Suppliers: Medium 6.2 Bargaining Power Of Buyers: Low To Medium 6.3 Barriers To Entry: Low To Medium 6.4 Intensity Of Rivalry: High 6.5 Threat Of Substitutes: Low 7 Reinsurance Growth Dynamics And Challenges 7.1 Reinsurance Segment Size, 2008–2017 7.2 Reinsurance Segment Size By Type Of Insurance, 2008–2017 8 Governance, Risk And Compliance 8.1 Legislation Overview And Historical Evolution 8.2 Legislation And Market Practice By Type Of Insurance 8.2.1 Life Insurance 8.2.2 Property Insurance 8.2.3 Motor Insurance 8.2.4 Marine, Aviation And Transit Insurance 8.2.5 Personal Accident And Health Insurance 8.3 Compulsory Insurance 8.3.1 Motor Third-party Liability Insurance (mtpl) 8.3.2 Social Insurance System 8.3.3 Air Carriers And Aircraft Operators Liability Insurance 8.3.4 Marine Insurance 8.4 Supervision And Control 8.4.1 International Association Of Insurance Supervisors (iais) 8.4.2 European Insurance And Occupational Pensions Authority (eiopa) 8.4.3 Insurance Commission (commissariat Aux Assurance) 8.5 Non-admitted Insurance Regulations 8.5.1 Overview 8.5.2 Intermediaries 8.5.3 Market Practices 8.5.4 Fines And Penalties 8.6 Company Registration And Operations 8.6.1 Types Of Insurance Organization 8.6.2 Establishing A Local Company 8.6.3 Foreign Ownership 8.6.4 Types Of License 8.6.5 Capital Requirements 8.6.6 Solvency Margins 8.6.7 Reserve Requirements 8.6.8 Investment Regulations 8.6.9 Statutory Return Requirements 8.6.10 Fee Structure 8.7 Taxation 8.7.1 Insurance Premium Or Policy Taxation 8.7.2 Withholding Taxes On Premium Paid Overseas 8.7.3 Corporate Tax 8.7.4 Vat 8.7.5 Captives Non-Life Insurance in Luxembourg, Key Trends and Opportunities to 2017
  • 8.8 Legal System 8.8.1 Introduction 8.8.2 Access To Court 8.8.3 Alternative Dispute Resolution (adr) 9 Competitive Landscape And Strategic Insights 9.1 Overview 9.2 Leading Companies In The Luxembourger Non-life Insurance Segment 9.3 Comparison Of The Top Five Insurers 9.3.1 Gross Written Premium 9.4 Swiss Re International – Company Overview 9.4.1 Swiss Re International – Key Facts 9.4.2 Swiss Re International – Key Financials 9.5 Foyer Assurances – Company Overview 9.5.1 Foyer Assurances – Key Facts 9.5.2 Foyer Assurances – Key Financials 9.6 La Luxembourgeoise – Company Overview 9.6.1 La Luxembourgeoise – Key Facts 9.6.2 La Luxembourgeoise – Key Financials 9.7 The Ship-owners Mutual Protection And Indemnity Association – Company Overview 9.7.1 The Ship-owners Mutual Protection And Indemnity Association – Key Facts 9.7.2 The Ship-owners Mutual Protection And Indemnity Association – Key Financials 9.8 The West Of England Ship-owners Mutual – Company Overview 9.8.1 The West Of England Ship-owners Mutual – Key Facts 9.8.2 The West Of England Ship-owners Mutual – Key Financials 9.9 Telefonica Insurance – Company Overview 9.9.1 Telefonica Insurance – Key Facts 9.9.2 Telefonica Insurance – Key Financials 9.10 Camca Assurance – Company Overview 9.10.1 Camca Assurance – Key Facts 9.10.2 Camca Assurance – Key Financials 9.11 Axa Assurances Luxembourg – Company Overview 9.11.1 Axa Assurances Luxembourg – Key Facts 9.11.2 Axa Assurances Luxembourg – Key Financials 9.12 Arisa Assurances – Company Overview 9.12.1 Arisa Assurances – Key Facts 9.12.2 Arisa Assurances – Key Financials 9.13 Baloise Assurances Luxembourg – Company Overview 9.13.1 Baloise Assurances Luxembourg – Key Facts 9.13.2 Baloise Assurances Luxembourg – Key Financials 10 Business Environment And Country Risk 10.1 Business Confidence 10.1.1 Market Capitalization Trend – Luxembourg Stock Exchange (lse) 10.2 Economic Performance 10.2.1 Gdp At Constant Prices (us$) 10.2.2 Gdp Per Capita At Constant Prices (us$) 10.2.3 Gdp At Current Prices (us$) 10.2.4 Gdp Per Capita At Current Prices (us$) 10.2.5 Agriculture, Hunting, Forestry And Fishing Net Output At Current Prices (us$) 10.2.6 Agriculture, Hunting, Forestry And Fishing Net Output At Current Prices, As A Percentage Of Gdp 10.2.7 Manufacturing Net Output At Current Prices (us$) 10.2.8 Manufacturing Net Output At Current Prices, As A Percentage Of Gdp 10.2.9 Mining, Manufacturing And Utilities At Current Prices (us$) 10.2.10 Mining, Manufacturing And Utilities At Current Prices, As A Percentage Of Gdp 10.2.11 Construction Net Output At Current Prices (us$) 10.2.12 Construction Net Output At Current Prices, As A Percentage Of Gdp 10.2.13 Inflation Rate 10.2.14 Merchandise Exports As A Percentage Of Gdp 10.2.15 Merchandise Imports As A Percentage Of Gdp 10.2.16 Annual Average Exchange Rate Eur–us$ 10.3 Infrastructure 10.3.1 Commercial Vehicle Exports – Total Value 10.3.2 Commercial Vehicle Imports – Total Value 10.3.3 Automotive Exports – Total Value 10.3.4 Automotive Imports – Total Value Non-Life Insurance in Luxembourg, Key Trends and Opportunities to 2017
  • 10.3.5 Total Internet Subscribers 10.4 Labor Force 10.4.1 Labor Force 10.4.2 Unemployment Rate 10.5 Demographics 10.5.1 Household Consumption Expenditure (us$) 10.5.2 Total Population 10.5.3 Urban And Rural Population 10.5.4 Age Distribution Of The Total Population 11 Appendix 11.1 Methodology 11.2 Contact Timetric 11.3 About Timetric 11.4 Timetric’s Services 11.5 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/ Non-Life Insurance in Luxembourg, Key Trends and Opportunities to 2017