Life Insurance in Norway, Key Trends and Opportunities to 2017

Synopsis
The report provides in-depth market analysis, inf...
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...
10.4.3 The Financial Supervisory Authority Of Norway (fsa)
10.5 Non-admitted Insurance Regulatory Trends
10.5.1 Overview
1...
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 ...
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Life Insurance in Norway Key Trends and Opportunities to 2017:Industry Growth Report

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Life Insurance in Norway Key Trends and Opportunities to 2017:Industry Growth Report
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Life Insurance in Norway Key Trends and Opportunities to 2017:Industry Growth Report

  1. 1. Life Insurance in Norway, Key Trends and Opportunities to 2017 Synopsis The report provides in-depth market analysis, information and insights into the Norwegian life insurance segment, including: The Norwegian 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 Norwegian life insurance segment The detailed competitive landscape in the life insurance segment in Norway Detailed regulatory framework of the Norwegian insurance industry A description of the life reinsurance segment in Norway Porter's Five Forces analysis of the life insurance segment A benchmarking section on the Norwegian life insurance segment in comparison with other countries in the Nordic Region Executive summary The Norwegian life insurance segment is one of the fastest-growing in the Nordic region. The segment posted a review-period (2008−2012) compound annual growth rate (CAGR) of 5.8% in gross written premium terms, despite low interest rates and the financial crisis. The segment managed to post positive growth on account of robust growth registered in the individual and group life categories. The growth was further supported by the positive economic development following the financial crisis, a situation which is expected to fuel demand for life insurance in Norway over the forecast period (2012−2017). As a result, the written premium of the life insurance segment is expected to increase at a forecast-period CAGR of 6.4%. Scope This report provides a comprehensive analysis of the life insurance segment in Norway: It provides historical values for the Norwegian 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 Norwegian 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 Norway. Using Porter’s industry-standard “Five Forces” analysis, it details the competitive landscape in Norway for the life insurance business. It provides a detailed analysis of the reinsurance segment in Norway and its growth prospects. It profiles the top life insurance companies in Norway 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 Norwegian life insurance segment and each category within it Understand the demand-side dynamics, key market trends and growth opportunities within the Norwegian 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 Norwegian insurance industry and its impact on companies and the market's future Key highlights The Norwegian life insurance segment posted a review-period (2008−2012) CAGR of 5.8% in gross written premium terms despite low interest rates, and the financial crisis Fierce competition in the segment forced some insurers to re-examine their strategies in order to survive and gain market share through geographical expansion During the review period, life insurance providers have benefited from low combined ratios, resulting in underwriting profits Favorable demographic factors such as an increased in life expectancy and a rise in the elderly population (65 and above) are likely to accelerate demand for life insurance products The Norwegian life insurance segment is highly concentrated, with the 10 leading companies together accounting for 98.4% 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 Nordic Region 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 (% 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 4.3.2 Combined Ratio Life Insurance in Norway, Key Trends and Opportunities to 2017
  2. 2. 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 Bancassurance 4.4.3 Agencies 4.4.4 Online Channels 5 Norwegian 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 Insurance 6.1.4 Individual Endowment Insurance 6.1.5 Individual Unit-linked Insurance 6.1.6 Individual Term Life Insurance 6.1.7 Group Life Insurance 6.1.8 Group Superannuation Insurance 6.1.9 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 E-commerce 7.5 Brokers 7.6 Other Channels 8 Porter’s Five Forces Analysis – Norwegian Life Insurance 8.1 Bargaining Power Of Suppliers: Medium 8.2 Bargaining Power Of Buyers: 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 By Type Of Insurance, 2008–2017 10 Governance, Risk And Compliance 10.1 Legislation Overview And Historical Evolution 10.2 Legislation Trends By Type Of Insurance 10.2.1 Life Insurance Regulatory Trends 10.2.2 Property Insurance Regulatory Trends 10.2.3 Motor Insurance Regulatory Trends 10.2.4 Marine, Aviation And Transit Insurance Regulatory Trends 10.2.5 Personal Accident Insurance Regulatory Trends 10.3 Compulsory Insurance 10.3.1 Workers’ Compensation Insurance 10.3.2 Motor Third Party Liability Insurance 10.3.3 Natural Disaster Insurance For Property Cover 10.4 Supervision And Control 10.4.1 International Association Of Insurance Supervisors 10.4.2 European Insurance And Occupational Pensions Authority (eiopa) Life Insurance in Norway, Key Trends and Opportunities to 2017
  3. 3. 10.4.3 The Financial Supervisory Authority Of Norway (fsa) 10.5 Non-admitted Insurance Regulatory Trends 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 Investment Regulations 10.6.8 Statutory Return Requirements 10.7 Taxation 10.7.1 Insurance Premium Or Policy Taxation 10.7.2 Corporate Tax 10.7.3 Vat 10.7.4 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 Norwegian Life Insurance Segment 11.3 Comparison Of The Top Five Insurers 11.3.1 Gross Written Premium 11.3.2 Gross Claims 11.3.3 Assets 11.4 Kommunal Landspensjonskasse (klp) – Company Overview 11.4.1 Kommunal Landspensjonskasse (klp) – Key Facts 11.4.2 Kommunal Landspensjonskasse (klp) – Key Financials 11.5 Dnb Livsforsikring Asa – Company Overview 11.5.1 Dnb Livsforsikring Asa – Key Facts 11.5.2 Dnb Livsforsikring Asa – Key Financials 11.6 Storebrand Livsforsikring – Company Overview 11.6.1 Storebrand Livsforsikring – Key Facts 11.6.2 Storebrand Livsforsikring – Key Financials 11.7 Nordea Liv – Company Overview 11.7.1 Nordea Liv – Key Facts 11.7.2 Nordea Liv – Key Financials 11.8 Oslo Pensjonsforsikring – Company Overview 11.8.1 Oslo Pensjonsforsikring – Key Facts 11.8.2 Oslo Pensjonsforsikring – Key Financials 11.9 Sparebank 1 Livsforsikring As – Company Overview 11.9.1 Sparebank 1 Livsforsikring As – Key Facts 11.9.2 Sparebank 1 Livsforsikring As – Key Financials 11.10 Gjensidige Forsikring Asa – Company Overview 11.10.1 Gjensidige Forsikring Asa – Key Facts 11.11 Gjensidige Pensjon – Company Overview 11.11.1 Gjensidige Pensjon – Key Facts 11.11.2 Gjensidige Pensjon – Key Financials 11.12 Danica Pensjonsforsikring As – Company Overview 11.12.1 Danica Pensjonsforsikring As – Key Facts 11.12.2 Danica Pensjonsforsikring As – Key Financials 11.13 Tryg Forsikring – Company Overview 11.13.1 Tryg Forsikring – Key Facts 12 Business Environment And Country Risk 12.1 Business Confidence 12.1.1 Market Capitalization Trend – Oslo Børs, Norway 12.2 Economic Performance 12.2.1 Gdp At Constant Prices (us$) Life Insurance in Norway, Key Trends and Opportunities to 2017
  4. 4. 12.2.2 Gdp Per Capita At Constant Prices (us$) 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 Annual Average Exchange Rate Us$–jpy 12.3 Infrastructure 12.3.1 Commercial Vehicles Exports – Total Value 12.3.2 Commercial Vehicles Imports – Total Value 12.3.3 Automotive Exports – Total Value 12.3.4 Automotive Imports – Total Value 12.3.5 Total Internet Subscribers 12.4 Labor Force 12.4.1 Labor Force 12.4.2 Unemployment Rate 12.5 Demographics 12.5.1 Gross National Disposable Income (us$) 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 Norway, Key Trends and Opportunities to 2017

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