Belgium Insurance Q1 2019
The Belgian insurance sector is well developed and home to a number of reputable and highly capitalized carriers. Boththe life and non-life lines have strong penetration and density, suggesting a mature market. The market benefits from high incomes,supportive demographics and a robust level of product awareness. We note that organic growth potential is limited due to marketmaturity and decreased first time buyers, insurers will look towards product innovation and active upselling to support revenueexpansion. Healthy headline economic growth, coupled with potent spending powers, will continue to support insurance sales outto 2022 and beyond.
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