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Life Insurance in Belgium Key Trends and Opportunities to 2019

Life Insurance in Belgium Key Trends and Opportunities to 2019

Synopsis

Timetric’s 'Life Insurance in Belgium, Key Trends and Opportunities to 2020' report provides detailed analysis of the market trends, drivers and challenges in the Belgian life insurance segment.

It provides key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, total assets, total investment income and retentions during the review period (2011–2015) and forecast period (2015–2020).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Belgian economy and demographics, and provides detailed information on the competitive landscape in the country.

The report brings together Timetric’s research, modeling and analysis expertise, giving insurers access to information on segment dynamics and competitive advantages, and profiles of insurers operating in the country. The report also includes details of insurance regulations, and recent changes in the regulatory structure.

Summary

Timetric’s 'Life Insurance in Belgium, Key Trends and Opportunities to 2020' report provides in-depth market analysis, information and insights into the Belgian life insurance segment, including:

  • The Belgian life insurance segment’s growth prospects by life insurance category
  • Key trends, drivers and challenges for the life insurance segment
  • A comprehensive overview of the Belgian economy and demographics
  • The various distribution channels in the Belgian life insurance segment
  • Details of the competitive landscape in the life insurance segment in Belgium
  • Details of regulatory policy applicable to the Belgian insurance industry
Scope

This report provides a comprehensive analysis of the life insurance segment in Belgium:
  • It provides historical values for the Belgian life insurance segment for the report’s 2011–2015 review period, and projected figures for the 2015–2020 forecast period.
  • It offers a detailed analysis of the key categories in the Belgian life insurance segment, and market forecasts to 2019.
  • It analyzes the various distribution channels for life insurance products in Belgium.
  • It profiles the top life insurance companies in Belgium and outlines the key regulations affecting them.
Reasons To Buy
  • Make strategic business decisions using in-depth historic and forecast market data related to the Belgian life insurance segment, and each category within it.
  • Understand the demand-side dynamics, key market trends and growth opportunities in the Belgian life insurance segment.
  • Assess the competitive dynamics in the life insurance segment.
  • Identify growth opportunities and market dynamics in key product categories.
  • Gain insights into key regulations governing the Belgian insurance industry, and their impact on companies and the industry's future.
Key Highlights
  • Belgium’s economy has recovered, with real GDP growth of 1.7% in 2014, 1.5% in 2015 and 1.3% in 2016. The National Bank of Belgium has projected GDP growth at 1.4% in 2017 and 1.6% in 2018, which is expected to positively impact life insurance growth over the forecast period.
  • In April 2017, a new law abolished Article 20 of the Insurance Act of 2014, which increased the investment scope for Branch 23 insurance contracts.
  • In February 2016, the maximum guaranteed rate for Branch 21 products was increased from 1.5% to 2.0%.
  • Pension reforms initiated by the government in August 2015 are expected to increase demand for supplementary occupational and individual pension products.
  • Solvency ll was implemented, with effect from January 2016.


  • Key Facts and Highlights
    • Table Belgian Life Insurance - Key Facts, 2015
    • Table Belgian Life Insurance - Segment Shares of the Top Insurers, 2015
  • Executive Summary
  • Economy and Demographic
    • Table Belgian Government Credit Ratings
  • Segment Outlook
    • Regional Comparison
    • Segment Indicators
      • Gross written premium and penetration
        • Table Belgian Life Insurance - Gross Written Premium (EUR Billion and US$ Billion), 2011-2015
        • Table Belgian Life Insurance - Penetration (%), 2011-2015
        • Table Belgian Life Insurance - Gross Written Premium (EUR Billion and US$ Billion), 2015-2020
        • Table Belgian Life Insurance - Penetration (%), 2015-2020
        • Table Belgian Life Insurance - New Business Direct Written Premium (EUR Billion and US$ Billion), 2011-2015
        • Table Belgian Life Insurance - New Business Direct Written Premium (EUR Billion and US$ Billion), 2015-2020
        • Table Belgian Life Insurance - Premium per Capita (EUR and US$), 2011-2015
        • Table Belgian Life Insurance - Premium per Capita (EUR and US$), 2015-2020
      • Claims
        • Table Belgian Life Insurance - Paid Claims (EUR Billion and US$ Billion), 2011-2015
        • Table Belgian Life Insurance - Paid Claims (EUR Billion and US$ Billion), 2015-2020
      • Assets and investments
        • Table Belgian Life Insurance - Total Assets (EUR Billion and US$ Billion), 2011-2015
        • Table Belgian Life Insurance - Total Assets (EUR Billion and US$ Billion), 2015-2020
        • Table Belgian Life Insurance - Total Investment Income (EUR Billion and US$ Billion), 2011-2015
        • Table Belgian Life Insurance - Total Investment Income (EUR Billion and US$ Billion), 2015-2020
        • Table Belgian Life Insurance - Investment Portfolio (EUR Billion), 2011-2015
        • Table Belgian Life Insurance - Investment Portfolio (EUR Billion), 2015-2020
  • Outlook by Sub-Segment
    • Table Belgian Life Insurance - Direct Written Premium by Sub-Segment (EUR Billion), 2011-2015
    • Table Belgian Life Insurance - Direct Written Premium by Sub-Segment (EUR Billion), 2015-2020
    • Individual Life Insurance
      • Premium
        • Table Belgian Individual Life Insurance - Direct Written Premium by Category (EUR Billion), 2011-2015
        • Table Belgian Individual Life Insurance - Direct Written Premium by Category (EUR Billion), 2015-2020
      • Penetration
    • Group Life Insurance
      • Premium
        • Table Belgian Group Life Insurance - Direct Written Premium by Category (EUR Million), 2011-2015
        • Table Belgian Group Life Insurance - Direct Written Premium by Category (EUR Million), 2015-2020
      • Penetration
  • Distribution Channel Outlook
    • Analysis by Distribution Channel
      • Table Belgian Life Insurance - Direct Written Premium by Distribution Channel (EUR Million), 2011-2015
      • Table Belgian Life Insurance - Direct Written Premium by Distribution Channel (EUR Million), 2015-2020
      • Table Belgian Life Insurance - Percentage of Direct Written Premium Ceded, by Distribution Channel, 2011-2020
  • Competitive Landscape
    • Table Belgian Life Segment - Market Shares of Leading Insurers (%), 2014
    • Company Profiles
      • AG Insurance - company overview
        • Table AG Insurance - Key Facts
        • Table AG Insurance - Key Financials (EUR Million), 2011-2015
      • Axa Belgium - company overview
        • Table Axa Belgium - Key Facts
        • Table Axa Belgium - Key Financials (EUR Million), 2011-2015
      • CBC Assurance - company overview
        • Table CBC Assurance - Key Facts
        • Table CBC Assurance - Key Financials (EUR Million), 2011-2015
      • Ethias - company overview
        • Table Ethias - Key Facts
        • Table Ethias - Key Financials (EUR Million), 2011-2015
      • Belfius Insurance - company overview
        • Table Belfius Insurance - Key Facts
        • Table Belfius Insurance - Key Financials (EUR Million), 2011-2015
  • Governance, Risk and Compliance
    • Table Belgium - Insurance Regulatory Framework Key Features
    • Legislation Overview and Historical Evolution
    • Latest Changes in Regulation
    • Legislation and Market Practice by Type of Insurance
      • Life insurance
        • Table Belgium - Life Insurance Regulatory Framework
      • Property insurance
        • Table Belgium - Property Insurance Regulatory Framework
      • Motor insurance
        • Table Belgium - Motor Insurance Regulatory Framework
      • Liability insurance
        • Table Belgium - Liability Insurance Regulatory Framework
      • Marine, aviation and transit insurance
      • Personal accident and health insurance
    • Compulsory Insurance
      • Motor third-party liability insurance
      • Social insurance system
      • Air carrier and aircraft operators insurance
        • Table Belgium - Minimum Cover for Aircraft Third-Party Liability per Accident and Aircraft
      • Professional indemnity insurance for alternative investment fund managers
      • Clinical trials liability insurance
      • Liability insurance for drones
        • Table Belgium - Minimum Cover for RPA Third-Party Liability per Accident and per RPA
      • Liability insurance for third-party measurement organizations using CE-marked instruments
      • Professional indemnity insurance for insurance intermediaries
      • Liability for ships with respect to oil pollution
    • Supervision and Control
      • International Association of Insurance Supervisors
      • European Insurance and Occupational Pensions Authority
      • National regulatory authority
      • National Bank of Belgium
      • The Financial Services and Markets Authority
    • Non-Admitted Insurance Regulations
      • Overview
      • Intermediaries
      • Market practices
      • Fines and Penalties
    • Company Registration and Operations
      • Type of insurance organization
      • Establishing a local company
      • Foreign ownership
      • Types of license
      • Capital requirements
      • Solvency margin
      • Reserve requirements
      • Investment regulations
      • Statutory return requirements
      • Fee structure
    • Taxation
      • Insurance premium or policy taxation
        • Table Belgium - Insurance Premium Taxation 2017
      • Withholding taxes on premium paid overseas
      • Corporate tax
        • Table Belgium - Corporate Tax Rates for the Financial Year 2017
      • VAT
      • Captives
    • Legal System
      • Introduction
      • Access to court
      • Alternative dispute resolution
  • Databook
    • Policies and Premium
      • Table Belgian Life Insurance - Policies and Premium, 2011-2015
      • Table Belgian Life Insurance - Policies and Premium, 2015-2020
    • Claims and Expenses
      • Table Belgian Life Insurance - Claims and Expenses, 2011-2015
      • Table Belgian Life Insurance - Claims and Expenses, 2015-2020
    • Assets and Investments
      • Table Belgian Life Insurance - Assets and Investments, 2011-2015
      • Table Belgian Life Insurance - Assets and Investments, 2015-2020
    • Direct Marketing and E-Commerce
      • Table Belgian Life Insurance - Direct Marketing and E-Commerce, 2011-2015
      • Table Belgian Life Insurance - Direct Marketing and E-Commerce, 2015-2020
    • Insurance Brokers and Agencies
      • Table Belgian Life Insurance - Insurance Brokers and Agencies, 2011-2015
      • Table Belgian Life Insurance - Insurance Brokers and Agencies, 2015-2020
    • Bancassurance and Other Distribution Channels
      • Table Belgian Life Insurance - Insurance Brokers and Agencies, 2011-2015
      • Table Belgian Life Insurance - Insurance Brokers and Agencies, 2015-2020
    • Individual Life Insurance
      • Table Belgian Life Insurance - Individual Life Insurance, 2011-2015
      • Table Belgian Life Insurance - Individual Life Insurance, 2015-2020
    • Individual Life Insurance by Product
      • Table Belgian Life Insurance - Individual Life Insurance by Product, 2011-2015
      • Table Belgian Life Insurance - Individual Life Insurance by Product, 2015-2020
    • Group Life Insurance
      • Table Belgian Life Insurance - Group Life Insurance, 2011-2015
      • Table Belgian Life Insurance - Group Life Insurance, 2015-2020
    • Group Life Insurance by Product
      • Table Belgian Life Insurance - Group Life Insurance by Product, 2011-2015
      • Table Belgian Life Insurance - Group Life Insurance by Product, 2015-2020
    • Linked vs. Non-Linked Policies
      • Table Belgian Life Insurance - Linked vs. Non-Linked Policies, 2011-2015
      • Table Belgian Life Insurance - Linked vs. Non-Linked Policies, 2015-2020
  • Definitions and Methodology
    • Definitions
      • Table Insurance Industry Definitions
    • Methodology
  • About Timetric
    • Contact Timetric
    • About Timetric
    • Timetric's Services
    • Disclaimer

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