Non-Life Insurance in Portugal, Key Trends and Opportunities to 2017

Synopsis
The report provides in depth market analysi...
opportunities and market dynamics within key product categories Gain insights into key regulations governing
the Portugues...
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 Marke...
8.1 Bargaining Power Of Suppliers: Low To Medium
8.2 Bargaining Power Of Buyers: Low To Medium
8.3 Barriers To Entry: Medi...
10.6.10 Fee Structure
10.7 Taxation
10.7.1 Insurance Premium Or Policy Taxation
10.7.2 Withholding Taxes On Premium Paid O...
11.12.1 Zurich Insurance Plc – Sucursal Em Portugal – Key Facts

12 Business Environment And Country Risk
12.1...
13.1 Methodology
13.2 Contact Timetric
13.3 About Timetric
13.4 Timetric’s Services
13.5 Disclaimer
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Non-Life Insurance Industry in Portugal to 2017

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Non-Life Insurance Industry in Portugal to 2017

  1. 1. Non-Life Insurance in Portugal, Key Trends and Opportunities to 2017 Synopsis The report provides in depth market analysis, information and insights into the Portuguese non-life insurance segment, including: The Portuguese 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 Portuguese non-life insurance segment Detailed competitive landscape in the non-life insurance segment in Portugal Detailed regulatory framework of the Portuguese insurance industry A description of the non-life reinsurance segment in Portugal Porter's Five Forces Analysis of the non-life insurance segment Benchmarking section on the Portuguese non-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 Portugal’s recessionary economic environment and ongoing austerity measures adopted by the government have created difficult operating conditions for the insurance business in Portugal. The gross written premium of the non-life segment declined at a CAGR of 4.1%, from EUR2.7 billion (US$3.9 billion) in 2008 to EUR2.3 billion (US$2.9 billion) in 2012. Reduction in construction and housing activity, plus declining automobile sales put pressure on the demand for property and motor insurance. Motor insurance accounted for 59.5% of the non-life segment’s gross written premium, followed by property insurance with 34.0% in 2012. Compulsory insurance products such as motor third-party liability, workmen’s compensation and liability insurance will lead to growth over the forecast period. Furthermore, an expected economic revival and subsequent increase in business activity will provide further impetus for growth in the non-life segment. Scope This report provides a comprehensive analysis of the non-life insurance segment in Portugal: It provides historical values for the Portuguese non-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 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 Portugal Using Porter’s industry-standard “Five Forces” analysis, it details the competitive landscape in Portugal for the non-life insurance segment It provides a detailed analysis of the reinsurance segment in Portugal and its growth prospects It profiles the top non-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 non-life insurance segment and each category within it Understand the demand-side dynamics, key market trends and growth opportunities within the Portuguese non-life insurance segment Assess the competitive dynamics in the non-life insurance segment, along with the reinsurance segment Identify the growth Non-Life Insurance in Portugal, Key Trends and Opportunities to 2017
  2. 2. 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 The gross written premium of the non-life segment declined at a CAGR of 4.1%, from EUR2.7 billion (US$3.9 billion) in 2008 to EUR2.3 billion (US$2.9 billion) in 2012 The low level of construction and housing activity, coupled with declining automobile sales, dragged down demand for property and motor insurance The penetration rate of the non-life segment fell from 1.55% in 2008 to 1.37% 2012. The value of assets of non-life insurers also declined from EUR6.2 billion (US$9.2 billion) in 2008 to EUR4.7 billion (US$6.1 billion) in 2012 Agencies had the largest share in 2012, with 56.0% of the total commission paid Compulsory insurance products such as motor third-party liability, workmen’s compensation and liability insurance will lead to growth over the forecast period (2012-2017) The segment is highly concentrated, with the 10-leading companies accounting for 80.9% 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 Non-life Insurance 4.1 Scale And Penetration 4.1.1 Total Market Gross Written Premium 4.1.2 Premium Per Capita 4.1.3 Non-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 Non-Life Insurance in Portugal, Key Trends and Opportunities to 2017
  3. 3. 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 Brokers 4.4.3 Bancassurance 4.4.4 Agencies 5 Portuguese Insurance Industry Attractiveness 5.1 Insurance Industry Size, 2008–2017 5.2 Key Industry Trends And Drivers 6 Non-life Insurance Outlook 6.1 Non-life Insurance Growth Prospects By Category 6.1.1 Property Insurance 6.1.2 Fire And Allied Perils Insurance 6.1.3 Engineering Insurance 6.1.4 Agriculture Insurance 6.1.5 Other Property Insurance 6.2 Motor Insurance 6.2.1 Motor Hull Insurance 6.2.2 Motor Third-party Insurance 6.3 General Third-party Insurance 6.4 Marine, Aviation And Transit Insurance 6.4.1 Marine Insurance 6.4.2 Marine Hull Insurance 6.4.3 Marine Third-party Insurance 6.4.4 Aviation Insurance 6.4.5 Transit Insurance 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 Forces Analysis – Portuguese Non-life Insurance Non-Life Insurance in Portugal, Key Trends and Opportunities to 2017
  4. 4. 8.1 Bargaining Power Of Suppliers: Low To Medium 8.2 Bargaining Power Of Buyers: Low To Medium 8.3 Barriers To Entry: Medium 8.4 Intensity Of Rivalry: Medium 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 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 Non-Life Insurance in Portugal, Key Trends and Opportunities to 2017
  5. 5. 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 Portuguese Non-life Insurance Segment 11.3 Companhia De Seguros Fidelidade Mundial Sa – Company Overview 11.3.1 Companhia De Seguros Fidelidade Mundial Sa – Key Facts 11.3.2 Companhia De Seguros Fidelidade Mundial Sa – Key Financials 11.4 Companhia De Seguros Tranquilidade, Sa – Company Overview 11.4.1 Companhia De Seguros Tranquilidade Sa – Key Facts 11.4.2 Companhia De Seguros Tranquilidade Sa – Key Financials 11.5 Axa Portugal Companhia De Seguros, Sa – Company Overview 11.5.1 Axa Portugal Companhia De Seguros, Sa – Key Facts 11.5.2 Axa Portugal Companhia De Seguros, Sa – Key Financials 11.6 Companhia De Seguros Allianz Portugal Sa – Company Overview 11.6.1 Companhia De Seguros Allianz Portugal Sa – Key Facts 11.6.2 Companhia De Seguros Allianz Portugal Sa – Key Financials 11.7 Liberty Seguros, Sa – Company Overview 11.7.1 Liberty Seguros, Sa – Key Facts 11.7.2 Liberty Seguros, Sa – Key Financials 11.8 Companhia De Seguros Açoreana, Sa – Company Overview 11.8.1 Companhia De Seguros Açoreana, Sa – Key Facts 11.8.2 Companhia De Seguros Açoreana, Sa – Key Financials 11.9 Lusitania, Companhia De Seguros Sa – Company Overview 11.9.1 Lusitania, Companhia De Seguros Sa – Key Facts 11.9.2 Lusitania, Companhia De Seguros Sa – Key Financials 11.1 Mapfre Seguros Gerais, Sa – Company Overview 11.10.1 Mapfre Seguros Gerais, Sa – Key Facts 11.10.2 Mapfre Seguros Gerais, Sa – Key Financials 11.11 Generali – Companhia De Seguros, Spa – Company Overview 11.11.1 Generali – Companhia De Seguros, Spa – Key Facts 11.12 Zurich Insurance Plc – Sucursal Em Portugal – Company Overview Non-Life Insurance in Portugal, Key Trends and Opportunities to 2017
  6. 6. 11.12.1 Zurich Insurance Plc – Sucursal Em Portugal – Key Facts 12 Business Environment And Country Risk 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 Non-Life Insurance in Portugal, Key Trends and Opportunities to 2017
  7. 7. 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/ Non-Life Insurance in Portugal, Key Trends and Opportunities to 2017

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