DUBLIN--(BUSINESS WIRE)--Research and Markets (http://www.researchandmarkets.com/research/sglfbw/life_insurance_in) has announced the addition of the "Life Insurance in Belgium, Key Trends and Opportunities to 2018" report to their offering.
The Belgian life segment accounted for the largest proportion of gross written premium in the country's insurance industry, with a share of 65.3% in 2013, after registering a CAGR of 3.6% during the review period (2009-2013). The slow growth was attributed to the sovereign debt crisis, which led to a rise in unemployment and a reduction in wages. It was further discouraged by political instability and a credit rating downgrade by Standard & Poor's and Moody's.
Life insurance products linked to the stock market - such as unit-linked and pension insurance products - registered growth during the review period. These categories declined sharply in 2008 and 2009 due to the economic crisis, but recovered in 2010 and 2012, which attracted consumers to individual unit-linked products, increasing their demand.
High life expectancy supported the life segment and sustained its growth during the review period. This is also anticipated to benefit the segment over the forecast period, specifically endowment, term, pension and retirement products.
- The life segment is highly concentrated, with the 10 leading companies accounting for 84.2% of the segment's total gross written premium in 2013.
- The Belgian life segment accounted for the largest proportion of gross written premium in the country's insurance industry, with a share of 65.3% in 2013.
- Life insurance sales are dominated by the bancassurance channel, particularly investment-linked policies.
- The implementation of Solvency II will ensure a more accurate allocation of capital to risk, but is expected to pose major challenges for all EU life insurers and will force smaller companies to merge with large multinationals.
- A growth in life expectancy, relaxed FDI norms and the performance of the Belgian stock market encouraged life insurers to focus on class 23 (ULIP) life insurance products.
Key Topics Covered:
1 Key Facts and Events
2 Executive Summary
4 Belgian Insurance Industry Attractiveness
5 Life Insurance Outlook
6 Analysis by Distribution Channel
7 Governance, Risk and Compliance
8 Competitive Landscape and Strategic Insights
- Axa Belgium
- CBC Assurances
- Belfius (Belins) Insurance Belgium SA
- Allianz Benelux
- Delta Lloyd Life
- Vivium Assurances
- Ergo Insurance NV
- Argenta Assuranties NV (Aras)
For more information visit http://www.researchandmarkets.com/research/sglfbw/life_insurance_in