Denmark Insurance Report Q2 2016
BMI View: Conditions remain broadly favourable in Denmark's insurance sector. Demographics and the introduction of innovative products are boosting sales of health insurance. At a time of low interest rates and volatile financial markets, the life insurers appear to be capturing business from banks and other conduits for organised savings. We look for life and non-life premiums to grow by 4% and 3% respectively, both through 2016 and annually through the remainder of the forecast period. The main downside risks are in the non-life segment and come from price competition - particularly in the motor vehicle and property insurance sub-sectors. Latest Updates And Forecasts
Denmark's life insurance segment is closely linked to the country's sophisticated pensions system, which is very highly regarded in global terms. The life insurers benefit from the ageing demographics, their ability to develop attractive products, access to capital, multi-channel distribution and brand. At a time that interest rates are very low and financial markets have been volatile, the life insurers should capture business from banks and other conduits for organised savings. We look for premiums to rise by around 4% annually through the forecast period and remain of the view that the risks are to the upside.
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