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Life Insurance in Malta, Key Trends and Opportunities to 2019

Life Insurance in Malta, Key Trends and Opportunities to 2019

Synopsis

Timetric’s 'Life Insurance in Malta, Key Trends and Opportunities to 2019' report provides detailed analysis of the market trends, drivers and challenges in the Maltese 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 (2010–2014) and forecast period (2014–2019).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Maltese 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 Malta, Key Trends and Opportunities to 2019' report provides in-depth market analysis, information and insights into the Maltese life insurance segment, including:

  • The Maltese 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 Maltese economy and demographics
  • The various distribution channels in the Maltese life insurance segment
  • Details of the competitive landscape in the life insurance segment in Malta
  • Details of regulatory policy applicable to the Maltese insurance industry
Scope

This report provides a comprehensive analysis of the life insurance segment in Malta:
  • It provides historical values for the Maltese life insurance segment for the report’s 2010–2014 review period, and projected figures for the 2014–2019 forecast period.
  • It offers a detailed analysis of the key categories in the Maltese life insurance segment, and market forecasts to 2019.
  • It analyzes the various distribution channels for life insurance products in Malta.
  • It profiles the top life insurance companies in Malta 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 Maltese life insurance segment, and each category within it.
  • Understand the demand-side dynamics, key market trends and growth opportunities in the Maltese 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 Maltese insurance industry, and their impact on companies and the industry's future.
Key Highlights
  • A unique feature of the Maltese insurance industry is its emergence as a captive insurance and reinsurance domicile.
  • The Maltese life segment accounted for 28.1% of the total insurance gross written premium in 2014.
  • Individual whole life remained the key category in the segment during the review period, accounting for 79.6% of the life insurance gross written premium in 2014.
  • The third pillar pension reforms came into force on January 2015, allowing Maltese insurers to market personal retirement products.
  • The life segment recorded a growth in investment income during the review period, primarily due to a strong investment portfolio and a mix of equities and bonds.


  • Key Facts and Highlights
    • Table Maltese Life Insurance - Key Facts, 2014
  • Executive Summary
  • Economy and Demographics
    • Table Maltese Government Credit Ratings
  • Life Insurance Outlook
    • Key Drivers
    • Key Trends
    • Challenges
    • Life Insurance Growth Prospects by Category
      • Table Maltese Life Insurance - Gross Written Premium by Category (EUR Million), 2010-2014
      • Table Maltese Life Insurance - Gross Written Premium by Category (US$ Million), 2010-2014
      • Table Maltese Life Insurance - Gross Written Premium by Category (EUR Million), 2014-2019
      • Table Maltese Life Insurance - Gross Written Premium by Category (US$ Million), 2014-2019
      • Table Maltese Life Insurance - New Business Direct Written Premium (EUR Million), 2010-2014
      • Table Maltese Life Insurance - New Business Direct Written Premium (EUR Million), 2014-2019
      • Table Maltese Life Insurance - Net Earned Premium (EUR Million), 2010-2014
      • Table Maltese Life Insurance - Net Earned Premium (EUR Million), 2014-2019
      • Table Maltese Life Insurance - Paid Claims (EUR Million), 2010-2014
      • Table Maltese Life Insurance - Paid Claims (EUR Million), 2014-2019
      • Table Maltese Life Insurance - Number of Policies per Capita, 2010-2014
      • Table Maltese Life Insurance - Number of Policies per Capita, 2014-2019
      • Table Maltese Life Insurance - Commissions and Expenses (EUR Million), 2010-2014
      • Table Maltese Life Insurance - Commissions and Expenses (EUR Million), 2014-2019
      • Table Maltese Life Insurance - Net Written Premium as a Percentage of Gross Written Premium (%), 2010-2014
      • Table Maltese Life Insurance - Net Written Premium as a Percentage of Gross Written Premium (%), 2014-2019
      • Table Maltese Life Insurance - Renewal Business Direct Written Premium (EUR Million), 2010-2014
      • Table Maltese Life Insurance - Renewal Business Direct Written Premium (EUR Million), 2014-2019
      • Table Maltese Life Insurance - Total Assets (EUR Billion), 2010-2014
      • Table Maltese Life Insurance - Total Assets (EUR Billion), 2014-2019
      • Table Maltese Life Insurance - Net Written Premium (EUR Million), 2010-2014
      • Table Maltese Life Insurance - Net Written Premium (EUR Million), 2014-2019
    • Individual Life Insurance
      • Table Maltese Individual Life Insurance - Gross Written Premium by Category (EUR Million), 2010-2014
      • Table Maltese Individual Life Insurance - Gross Written Premium by Category (US$ Million), 2010-2014
      • Table Maltese Individual Life Insurance - Gross Written Premium by Category (EUR Million), 2014-2019
      • Table Maltese Individual Life Insurance - Gross Written Premium by Category (US$ Million), 2014-2019
      • Table Maltese Individual Life Insurance - Direct Written Premium by Category (EUR Million), 2010-2014
      • Table Maltese Individual Life Insurance - Direct Written Premium by Category (US$ Million), 2010-2014
      • Table Maltese Individual Life Insurance - Direct Written Premium by Category (EUR Million), 2014-2019
      • Table Maltese Individual Life Insurance - Direct Written Premium by Category (US$ Million), 2014-2019
      • Table Maltese Individual Whole Life Insurance - Direct Written Premium (EUR Million), 2010-2014
      • Table Maltese Individual Whole Life Insurance - Direct Written Premium (EUR Million), 2014-2019
      • Table Maltese Other Individual Life Insurance - Direct Written Premium (EUR Million), 2010-2014
      • Table Maltese Other Individual Life Insurance - Direct Written Premium (EUR Million), 2014-2019
      • Group whole life insurance
        • Table Maltese Group Whole Life Insurance - Direct Written Premium (EUR Million), 2010-2014
        • Table Maltese Group Whole Life Insurance - Direct Written Premium (EUR Million), 2014-2019
    • Life Insurance Growth Prospects by Product Type
      • Individual single-premium insurance
        • Table Maltese Individual Single-Premium Insurance - Gross Written Premium (EUR Million), 2010-2014
        • Table Maltese Individual Single-Premium Insurance - Gross Written Premium (EUR Million), 2014-2019
        • Table Maltese Individual Single-Premium Insurance - Direct Written Premium (EUR Million), 2010-2014
        • Table Maltese Individual Single-Premium Insurance - Direct Written Premium (EUR Million), 2014-2019
      • Individual non-single-premium insurance
        • Table Maltese Individual Non-Single-Premium Insurance - Gross Written Premium (EUR Million), 2010-2014
        • Table Maltese Individual Non-Single-Premium Insurance - Gross Written Premium (EUR Million), 2014-2019
        • Table Maltese Individual Non-Single-Premium Insurance - Direct Written Premium (EUR Million), 2010-2014
        • Table Maltese Individual Non-Single-Premium Insurance - Direct Written Premium (EUR Million), 2014-2019
      • Total linked insurance business
        • Table Maltese Linked Insurance Business - Gross Written Premium (EUR Million), 2010-2014
        • Table Maltese Linked Insurance Business - Gross Written Premium (EUR Million), 2014-2019
        • Table Maltese Linked Insurance Business - Direct Written Premium (EUR Million), 2010-2014
        • Table Maltese Linked Insurance Business - Direct Written Premium (EUR Million), 2014-2019
      • Total non-linked insurance business
        • Table Maltese Non-Linked Insurance Business - Gross Written Premium (EUR Million), 2010-2014
        • Table Maltese Non-Linked Insurance Business - Gross Written Premium (EUR Million), 2014-2019
        • Table Maltese Non-Linked Insurance Business - Direct Written Premium (EUR Million), 2010-2014
        • Table Maltese Non-Linked Insurance Business - Direct Written Premium (EUR Million), 2014-2019
  • Analysis by Distribution Channel
    • Direct Marketing
      • Table Maltese Life Insurance - Direct Marketing Value of Commissions (EUR Million), 2010-2014
      • Table Maltese Life Insurance - Direct Marketing Value of Commissions (EUR Million), 2014-2019
      • Table Maltese Life Insurance - Direct Marketing New Business Direct Written Premium (EUR Million), 2010-2014
      • Table Maltese Life Insurance - Direct Marketing New Business Direct Written Premium (EUR Million), 2014-2019
      • Table Maltese Life Insurance - New Policies Sold Through Direct Marketing (Thousand), 2010-2014
      • Table Maltese Life Insurance - New Policies Sold Through Direct Marketing (Thousand), 2014-2019
    • Bancassurance
      • Table Maltese Life Insurance - Bancassurance Value of Commissions (EUR Million), 2010-2014
      • Table Maltese Life Insurance - Bancassurance Value of Commissions (EUR Million), 2014-2019
      • Table Maltese Life Insurance - Bancassurance New Business Direct Written Premium (EUR Million), 2010-2014
      • Table Maltese Life Insurance - Bancassurance New Business Direct Written Premium (EUR Million), 2014-2019
      • Table Maltese Life Insurance - New Policies Sold Through Bancassurance (Thousand), 2010-2014
      • Table Maltese Life Insurance - New Policies Sold Through Bancassurance (Thousand), 2014-2019
      • Table Maltese Life Insurance - Number of Banking Entities, 2010-2014
      • Table Maltese Life Insurance - Number of Banking Entities, 2014-2019
    • Agencies
      • Table Maltese Life Insurance - Agencies' Value of Commissions (EUR Million), 2010-2014
      • Table Maltese Life Insurance - Agencies' Value of Commissions (EUR Million), 2014-2019
      • Table Maltese Life Insurance - Agencies' New Business Direct Written Premium (EUR Million), 2010-2014
      • Table Maltese Life Insurance - Agencies' New Business Direct Written Premium (EUR Million), 2014-2019
      • Table Maltese Life Insurance - New Policies Sold Through Agencies (Thousand), 2010-2014
      • Table Maltese Life Insurance - New Policies Sold Through Agencies (Thousand), 2014-2019
      • Table Maltese Life Insurance - Number of Insurance Agents, 2010-2014
      • Table Maltese Life Insurance - Number of Insurance Agents, 2014-2019
    • Brokers
      • Table Maltese Life Insurance - Brokers' Value of Commissions (EUR Million), 2010-2014
      • Table Maltese Life Insurance - Brokers' Value of Commissions (EUR Million), 2014-2019
      • Table Maltese Life Insurance - Brokers' New Business Direct Written Premium (EUR Million), 2010-2014
      • Table Maltese Life Insurance - Brokers' New Business Direct Written Premium (EUR Million), 2014-2019
      • Table Maltese Life Insurance - New Policies Sold Through Brokers (Thousand), 2010-2014
      • Table Maltese Life Insurance - New Policies Sold Through Brokers (Thousand), 2014-2019
      • Table Maltese Life Insurance - Number of Insurance Brokers, 2010-2014
      • Table Maltese Life Insurance - Number of Insurance Brokers, 2014-2019
  • Competitive Landscape and Strategic Insights
    • Overview
      • Table Total Number of Insurance and Reinsurance Companies In The Maltese Insurance Industry, 2010 – 2014
    • Leading Companies in the Maltese Life Insurance Segment
      • Table Maltese Life Insurance - Segment Shares (%), 2014
      • GlobalCapital Plc - company overview
        • Table GlobalCapital Plc, Key Facts
        • Table GlobalCapital Plc, Key Financials (EUR Million), 2010-2014
      • MSV Life Plc - company overview
        • Table MSV Life Plc, Key Facts
        • Table MSV Life Plc, Key Financials (EUR Million), 2009-2013
      • HSBC Life Insurance (Malta) Ltd - company overview
        • Table HSBC Life Insurance (Malta) Ltd, Key Facts
        • Table HSBC Life Insurance (Malta) Ltd, Key Financials (EUR Million), 2010-2014
      • Citadel Insurance Plc - company overview
        • Table Citadel Insurance Plc, Key Facts
  • Governance, Risk and Compliance
    • Table Malta - Insurance Regulatory Framework Key Features
    • Legislation Overview and Historical Evolution
    • Latest Changes in Regulations
    • Legislation and Market Practice by Type of Insurance
      • Life insurance
        • Table Malta - Life Insurance Regulatory Framework
      • Property insurance
        • Table Malta - Property Insurance Regulatory Framework
      • Motor insurance
        • Table Malta - Motor Insurance Regulatory Framework
      • Liability insurance
        • Table Malta - Liability Insurance Regulatory Framework
      • Marine, aviation and transit insurance regulations
      • Personal accident and health insurance regulations
    • Compulsory Insurance
      • Motor third-party liability insurance
      • Social Security System
      • Air carriers and aircraft operators insurance
        • Table Malta - Minimum Cover for Aircraft Third-Party Liability per Accident per Aircraft
      • Professional indemnity insurance for healthcare professionals
      • Professional indemnity insurance for alternative investment fund managers
    • Supervision and Control
      • International Association of Insurance Supervisors
      • European Insurance and Occupational Pensions Authority
      • Federation of European Risk Management Associations
      • Ministry of Finance
      • Malta Financial Services Authority
      • The Financial Services Tribunal
    • Non-Admitted Insurance Regulations
      • Overview
      • Intermediaries
      • Market practices
      • Fines and penalties
    • Company Registration and Operations
      • Types of insurance organization
      • Establishing a local company
      • Foreign ownership
      • Types of license
      • Capital requirements
      • Solvency margins
      • Reserve requirements
      • Investment regulations
      • Statutory return requirements
      • Fee structure
        • Table Malta - Authorization Fees for Insurers and Reinsurers
        • Table Malta - Annual Supervisory Fee for Insurance Companies Based on Premium Income
        • Table Malta - Authorization Fees for Auditor
        • Table Malta - Fees to Permit to Cease to Carry on Insurance and Reinsurance Businesses
    • Taxation
      • Insurance premium or policy taxation
      • Withholding taxes on premium paid overseas
      • Corporate tax
        • Table Malta - Corporate Tax Rates for the Financial Year 2015
      • VAT
      • Captives
    • Legal System
      • Introduction
      • Access to court
      • Alternative dispute resolution
  • Definitions and Methodology
    • Definitions
      • Table Insurance Industry Definitions
    • Methodology
  • About Timetric
    • Contact Timetric
    • About Timetric
    • Timetric's Services
    • Disclaimer

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