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Belgium Insurance Report Q2 2016

Belgium Insurance Report Q2 2016

BMI View: The insurance market in Belgium is large and mature, with a diverse range of domestic andglobal firms active in both the life and non-life sectors. The country has emerged from recession andeconomic recovery is gathering pace, leading to a more positive short-term outlook where slow and steadyincreases in premiums are forecast. Growth potential is, however, relatively subdued as rates of penetrationand density are already high, though health insurance is proving a promising growth area.

Key Updates And Forecasts:

Belgium's economic recovery is gaining traction and the BMI Country Risk team has upgraded our realGDP growth forecast to 1.6% in both 2016 and 2017, from 1.4% and 1.5% previously. As a result, wehave also revised upwards, marginally, our forecasts for growth in terms of life and non-life premiumswritten, though we note Belgium's recovery remains fragile and dependent upon the health of eurozoneneighbours.

Netherlands-based Delta LLoyd, which has a large presence in Belgium, continues to attempt tostrengthen its position in preparation for Solvency II requirements - the group recently sold its Belgiumbasedbanking firm (Delta Lloyd Bank Belgium) to a Chinese buyer and has announced a rights issue toraise EUR1bn in equity capital.


BMI Industry View
Table: Headline Insurance Forecasts (Belgium 2013-2020)
SWOT
Insurance
Industry Forecast
Life Premiums Forecast
Table: Life Premiums (Belgium 2013-2020)
Table: Life Insurance Claims (Belgium 2007-2013)
Non-Life Premiums Forecast
Table: Non-Life Premiums (Belgium 2013-2021)
Table: Non-Life Insurance Claims (Belgium 2008-2013)
Non-Life Sub-Sector Forecast
Table: Non-Life Insurance Premiums by Product Line (Belgium 2013-2020)
Insurance Risk/Reward Index
Developed States Insurance Risk/Reward Index
Table: Developed States Insurance Risk/Reward Index - Q216
Market Overview
Life Market Overview
The Product Offering
The Competitive Landscape
Table: Gross Written Premiums in the Life Segment (USDmn), 2008-2014
Non-Life Market Overview
The Product Offering
The Competitive Landscape
Table: Gross Written Premiums in the Non-Life Segment (USDmn), 2008-2014
Company Profile
Ageas
AXA
Belfius
Ethias
KBC
Methodology
Industry Forecast Methodology
Risk/Reward Index Methodology
Table: Indicators
Table: Weighting of Indicators

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