Norway Insurance Q2 2020
Overall the outlook for Norway's insurance market remains consistent this quarter, with solid growth expected in boththe non-life and larger life insurance segments. The insurance market benefits from a number of strong fundamentals, includingvery high average income rates, a diverse competitive landscape and a well managed regulator which stringently enforcesnumerous compulsory covers. Rising investment and consumption rates will ensure continued premium growth, despite strongcompetition in this mature market. While new entrants are unlikely due to the scale of existing entrenched providers, ongoingdigitalisation in the financial services industry could see small scale digital insurers start to grow their market shares.
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