Netherlands Insurance Report Q2 2016
BMI View: The Netherlands has one of the largest insurance markets in Europe, particularly in terms ofhealth insurance, which accounts for the vast majority of the non-life sector. As a mature marketplace,growth opportunities are relatively restricted, particularly in the life sector, which continues to suffer froma lack of consumer confidence and limited savings and investment activity. We do expect to see somegrowth in household income over the forecast period, indicating increased capacity for spending on variousinsurable products and some impetus for premium growth in the non-life sector. However, the outlook willremain subdued overall, with growth rates lingering in the low single digits.
Key Updates And Forecasts
Health insurance remains the main driver of growth in the non-life sector. Government estimates putpremium increases at around EUR7 per month in 2016, while we are forecasting growth of 3.6% in healthinsurance premiums, underpinning growth of 3.1% across the non-life sector, leading to total non-lifepremiums of EUR60.9bn (USD65.1bn) - around 81% of all insurance premiums written in theNetherlands.
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