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Life insurance in spain, key trends and opportunities to 2017

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The report provides in-depth market analysis, information and insights into the Spanish life insurance segment, including:

The Spanish 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 Spanish life insurance segment
The detailed competitive landscape in the life insurance segment in Spain
Regulatory policies of the Spanish insurance industry
A description of the life reinsurance segment in Spain

Published in: Business, Economy & Finance
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  • 1. Life Insurance in Spain, Key Trends and Opportunities to 2017 Synopsis The report provides in-depth market analysis, information and insights into the Spanish life insurance segment, including: The Spanish 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 Spanish life insurance segment The detailed competitive landscape in the life insurance segment in Spain Regulatory policies of the Spanish insurance industry A description of the life reinsurance segment in Spain Porter's Five Forces analysis of the life insurance segment A benchmarking section on the Spanish life insurance segment in comparison with other countries with US$60–US$150 billion in gross written premium Executive summary During the review period (2008–2012), the Spanish life insurance segment, as compared to other developed European countries, was moderately affected by the global financial crisis and declined by a CAGR of -0.7%. In comparison, the UK’s life insurance segment declined by a CAGR of -3.9% and that of France declined by -2.4% during the same period. High demand for guaranteed return products and the increasing need for pension products supported the segment during the review period. The fast aging population and reduced public spending by government are expected to drive growth in the Spanish life insurance segment over the forecast period (2012–2017). Overall, the segment is expected to grow at a forecast-period CAGR of 3.1%. Scope This report provides a comprehensive analysis of the life insurance segment in Spain: It provides historical values for the Spanish 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 categories in the Spanish 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 life insurance products in Spain. Using Porter’s industry-standard “Five Forces” analysis, it details the competitive landscape in Spain for the life insurance business. It provides a detailed analysis of the reinsurance segment in Spain and its growth prospects. It profiles the top life insurance companies in Spain 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 Spanish life insurance segment and each category within it Understand the demand-side dynamics, key market trends and growth opportunities within the Spanish 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 Spanish insurance industry and its impact on companies and the market's future Key highlights Compared to other European countries, the Spanish life insurance segment was only moderately affected by the global financial crisis, declining at a review-period CAGR of -0.7%, compared to the UK with a decline in CAGR of -3.9% and France’s decline of -2.4%. The demand for guaranteed-return products following the 2008 crisis supported the life insurance segment during the review period. However, after the sovereign debt crisis in Spain, the repayment of these products is posing a challenge for life insurers. Spain underwent major pension reforms, such as an increase in the number of contribution years to calculate pension benefits and a fixed rise in the annual pensions to regulate the pension category. Solvency II, the proposed new European regulatory framework for insurers, aims to change capital requirements in the insurance industry and introduce new risk management standards for insurers. The directive is expected to be implemented in January 2016. 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 Segment – Regional Benchmarking 4.1 Scale And Penetration 4.1.1 Total Gross Written Premium 4.1.2 Premium Per Capita 4.1.3 Life Insurance Penetration (as A Percentage Of Gdp) 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 Life Insurance in Spain, Key Trends and Opportunities to 2017
  • 2. 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 4.4.4 Agencies 5 Spanish 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 Pension 6.1.3 Individual Endowment 6.1.4 Individual Marriage And Birth Insurance 6.1.5 Individual Unit-linked Insurance 6.1.6 Individual Term Life Insurance 6.1.7 Individual Others 6.1.8 Group Life Insurance 6.1.9 Group Superannuation 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 Channels 7.1 Direct Marketing 7.2 Bancassurance 7.3 Agencies 7.4 E-commerce 7.5 Brokers 7.6 Other Channels 8 Porter’s Five Force Analysis – Spanish Life Insurance 8.1 Bargaining Power Of Suppliers: Medium 8.2 Bargaining Power Of Buyers: Medium To High 8.3 Barriers To Entry: Low To Medium 8.4 Intensity Of Rivalry: Medium To High 8.5 Threat Of Substitutes: Low 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 Third-party Liability Insurance 10.3.2 Marine Liability Insurance 10.3.3 Social Insurance System 10.3.4 Air Carriers And Aircraft Operators Insurance 10.4 Supervision And Control 10.4.1 International Association Of Insurance Supervisors (iais) Life Insurance in Spain, Key Trends and Opportunities to 2017
  • 3. 10.4.2 European Insurance And Occupational Pensions Authority (eiopa) 10.4.3 Directorate General Of Insurance And Pension Funds (dgipf) 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 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 Spanish Life Insurance Segment 11.3 Comparison Of Top Five Insurers 11.3.1 Gross Written Premium 11.3.2 Gross Claims 11.3.3 Incurred Loss 11.3.4 Total Assets 11.3.5 Total Investment Income 11.4 Vidacaixa – Company Overview 11.4.1 Vidacaixa – Key Facts 11.4.2 Vidacaixa – Key Financials 11.5 Santander Seguros – Company Overview 11.5.1 Santander Seguros – Key Facts 11.5.2 Santander Seguros – Key Financials 11.6 Bbva Seguros – Company Overview 11.6.1 Bbva Seguros – Key Facts 11.6.2 Bbva Seguros – Key Financials 11.7 Mapfre Vida – Company Overview 11.7.1 Mapfre Vida – Key Facts 11.7.2 Mapfre Vida – Key Financials 11.8 Ibercaja Vida – Company Overview 11.8.1 Ibercaja Vida – Key Facts 11.8.2 Ibercaja Vida – Key Financials 11.9 Grupo Caser – Company Overview 11.9.1 Grupo Caser – Key Facts 11.9.2 Grupo Caser – Key Financials 11.1 Generali Seguros – Company Overview 11.10.1 Generali Seguros – Key Facts 11.10.1 Generali Seguros – Key Financials 11.11 Allianz Seguros – Company Overview 11.11.1 Allianz Seguros – Key Facts 11.11.2 Allianz Seguros – Key Financials 11.12 Bansabadell Vida – Company Overview 11.12.1 Bansabadell Vida – Key Facts 11.12.2 Bansabadell Vida – Key Financials 11.13 Unicorp Vida – Company Overview 11.13.1 Unicorp Vida– Key Facts Life Insurance in Spain, Key Trends and Opportunities to 2017
  • 4. 11.13.2 Unicorp Vida – Key Financials 12 Business Environment And Country Risk 12.1 Business Confidence 12.1.1 Market Capitalization Trend – Spain Stock Market (ibex 35), Spain 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$) 12.2.5 Gdp By Key Segments 12.2.6 Agriculture, Hunting, Forestry And Fishing Net Output At Current Prices (us$) 12.2.7 Agriculture, Hunting, Forestry And Fishing Net Output At Current Prices As A Percentage Of Gdp 12.2.8 Manufacturing Net Output At Current Prices (us$) 12.2.9 Manufacturing Net Output At Current Prices As A Percentage Of Gdp 12.2.10 Mining, Manufacturing And Utilities At Current Prices (us$) 12.2.11 Mining, Manufacturing And Utilities At Current Prices As Percentage Of Gdp 12.2.12 Construction Net Output At Current Prices (us$) 12.2.13 Construction Net Output At Current Prices As A Percentage Of Gdp 12.2.14 Inflation Rate 12.2.15 Exports As A Percentage Of Gdp 12.2.16 Imports As A Percentage Of Gdp 12.2.17 Merchandise Exports Growth 12.2.18 Merchandise Imports Growth 12.2.19 Annual Average Exchange Rate Eur–us$ 12.3 Infrastructure Quality And Availability 12.3.1 Commercial Vehicles 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 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 Spain, Key Trends and Opportunities to 2017

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