Israel Insurance Report Q1 2016
BMI View: Both the life and the non-life segments of Israel's sophisticated insurance sector should benefitfrom the ageing of the population. There are upside risks to our forecasts for the life segment; however,there are both upside and downside risks for the smaller non-life segment.
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Israel's insurance sector has a number of features in common with its counterpart in South Africa. Thecountry's unusual history means that both segments are dominated by a small number of very substantialand sophisticated indigenous composite groups. Life insurance is substantially larger than non-lifeinsurance, and has greater growth potential. Life insurance plays an important role as a conduit fororganised savings.
Recent results from the largest insurers confirm that they are benefiting from a number of factors. Inparticular, life insurance is seen as an attractive opportunity relative to other savings and investments,given very low interest rates and the volatility of financial markets. Over the long-term, demand forretirement income products will grow thanks to the ageing of the population. The risks to our forecastsare overwhelmingly to the upside.
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