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Life Insurance in Norway, Key Trends and Opportunities to 2020

  • Key Facts and Highlights
    • Table Norwegian Life Insurance - Key Facts, 2015
    • Table Norwegian Life Insurance - Segment Shares of the Top Insurers, 2015
  • Executive Summary
  • Economy and Demographics
    • Table Norwegian Government Credit Ratings
  • Segment Outlook
    • Regional Comparison
    • Segment Indicators
      • Gross written premium
        • Table Norwegian Life Insurance - Gross Written Premium (NOK Billion and US$ Billion), 2011-2015
        • Table Norwegian Life Insurance - Gross Written Premium (NOK Billion and US$ Billion), 2015-2020
        • Table Norwegian Life Insurance - New Business Direct Written Premium (NOK Billion and US$ Billion), 2011-2015
        • Table Norwegian Life Insurance - New Business Direct Written Premium (NOK Billion and US$ Billion), 2015-2020
      • Policies sold
        • Table Norwegian Life Insurance - Number of Policies Sold (Million), 2011-2015
        • Table Norwegian Life Insurance - Number of Policies Sold (Million), 2015-2020
      • Claims
        • Table Norwegian Life Insurance - Paid Claims (NOK Billion and US$ Billion), 2011-2015
        • Table Norwegian Life Insurance - Paid Claims (NOK Billion and US$ Billion), 2015-2020
      • Assets and investments
        • Table Norwegian Life Insurance - Total Assets (NOK Billion and US$ Billion), 2011-2015
        • Table Norwegian Life Insurance - Total Assets (NOK Trillion and US$ Billion), 2015-2020
        • Table Norwegian Life Insurance - Total Investment Income (NOK Billion and US$ Billion), 2011-2015
        • Table Norwegian Life Insurance - Total Investment Income (NOK Billion and US$ Billion), 2015-2020
        • Table Norwegian Life Insurance - Investment Portfolio (NOK Billion), 2011-2015
        • Table Norwegian Life Insurance - Investment Portfolio (NOK Billion), 2015-2020
  • Outlook by Sub-Segment
    • Table Norwegian Life Insurance - Gross Written Premium by Sub-Segment (NOK Billion), 2011-2015
    • Table Norwegian Life Insurance - Gross Written Premium by Sub-Segment (NOK Billion), 2015-2020
    • Individual Life Insurance
      • Premium
        • Table Norwegian Individual Life Insurance - Gross Written Premium by Category (NOK Billion), 2011-2015
        • Table Norwegian Individual Life Insurance - Gross Written Premium by Category (NOK Billion), 2015-2020
    • Group Life Insurance
      • Premium
        • Table Norwegian Group Life Insurance - Direct Written Premium by Category (NOK Billion), 2011-2015
        • Table Norwegian Group Life Insurance - Direct Written Premium by Category (NOK Billion), 2015-2020
  • Distribution Channel Outlook
    • Analysis by Distribution Channel
  • Competitive Landscape
    • Overview
      • Table Norwegian Life Insurance - Market Shares of Leading Insurers (%), 2015
    • Company Profiles
      • Kommunal Landspensjonskasse gjensidig forsikringsselskap (KLP) - company overview
        • Table Kommunal Landspensjonskasse - Key Facts
        • Table Kommunal Landspensjonskasse - Key Financials (NOK Million), 2011-2015
      • DNB Livsforsikring - company overview
        • Table DNB Livsforsikring - Key Facts
        • Table DNB Livsforsikring - Key Financials (NOK Million), 2011-2015
      • Storebrand Livsforsikring - company overview
        • Table Storebrand Livsforsikring - Key Facts
        • Table Storebrand Livsforsikring - Key Financials (NOK Million), 2011-2015
      • Nordea Liv - company overview
        • Table Nordea Liv - Key Facts
        • Table Nordea Liv - Key Financials (NOK Million), 2011-2015
      • Sparebank 1 Livsforsikring AS - company overview
        • Table Sparebank 1 Livsforsikring - Key Facts
        • Table Sparebank 1 Livsforsikring - Key Financials (NOK Million), 2011-2015
  • Governance, Risk and Compliance
    • Table Norway - 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 Norway- Life Insurance Regulatory Framework
      • Property insurance
        • Table Norway - Property Insurance Regulatory Framework
      • Motor insurance
        • Table Norway - Motor Insurance Regulatory Framework
      • Liability insurance
        • Table Norway - Liability Insurance Regulatory Framework
      • Marine, aviation and transit insurance
      • Personal accident and health insurance
    • Compulsory Insurance
      • Workmen's compensation insurance
      • Motor third-party liability insurance
      • Air carriers and aircraft liability insurance
        • Table Norway - Minimum Cover for Aircraft Third-Party Liability per Accident per Aircraft
      • Natural disaster insurance for property cover
      • Professional indemnity insurance for alternative investment fund managers
      • Professional indemnity insurance for insurance brokers
      • Third-party liability insurance for remotely piloted aerial vehicles
      • Third-party liability insurance for nuclear facilities
      • Clinical trials liability insurance
      • Liability for ships with respect to oil pollution
    • Supervision and Control
      • International Association of Insurance Supervisors
      • European Insurance and Occupational Pensions Authority
      • The Financial Supervisory Authority of Norway
      • The Nordic Association of Marine Insurers
    • Non-Admitted Insurance Regulation
      • 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 margins
      • Reserve requirements
      • Investment regulations
      • Statutory return requirements
      • Fee structure
    • Taxation
      • Insurance premium or policy taxation
      • Withholding taxes on premium paid overseas
      • Corporate tax
        • Table Norway - Corporate Tax Rates for the Financial Year 2016
      • VAT
      • Captives
    • Legal System
      • Introduction
      • Access to court
      • Alternative dispute resolution (ADR)
  • Databook
    • Policies and Premium
      • Table Norwegian Life Insurance - Policies and Premium, 2011-2015
      • Table Norwegian Life Insurance - Policies and Premium, 2015-2020
    • Claims and Expenses
      • Table Norwegian Life Insurance - Claims and Expenses, 2011-2015
      • Table Norwegian Life Insurance - Claims and Expenses, 2015-2020
    • Assets and Investments
      • Table Norwegian Life Insurance - Assets and Investments, 2011-2015
      • Table Norwegian Life Insurance - Assets and Investments, 2015-2020
    • Individual Life Insurance
      • Table Norwegian Life Insurance - Individual Life Insurance, 2011-2015
      • Table Norwegian Life Insurance - Individual Life Insurance, 2015-2020
    • Individual Life Insurance by Product
      • Table Norwegian Life Insurance - Individual Life Insurance by Product, 2011-2015
      • Table Norwegian Life Insurance - Individual Life Insurance by Product, 2015-2020
    • Group Life Insurance
      • Table Norwegian Life Insurance - Group Life Insurance, 2011-2015
      • Table Norwegian Life Insurance - Group Life Insurance, 2015-2020
    • Group Life Insurance by Product
      • Table Norwegian Life Insurance - Group Life Insurance by Product, 2011-2015
      • Table Norwegian Life Insurance - Group Life Insurance by Product, 2015-2020
  • Definitions and Methodology
    • Definitions
      • Table Insurance Industry Definitions
  • About Timetric
    • Contact Timetric
    • About Timetric
    • Timetric's Services
    • Disclaimer

Synopsis

Timetric’s 'Life Insurance in Norway Key Trends and Opportunities to 2020' report provides a detailed outlook by product category for the Norwegian life insurance segment and a comparison of the Norwegian insurance industry with its regional counterparts.

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, gprovides a comprehensive overview of the Norwegian economy and demographics, as well as detailed information pertaining to the country's competitive landscape.

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

Summary

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

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

This report provides a comprehensive analysis of the life insurance segment in Norway:
  • It provides historical values for the Norwegian 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 Norwegian life insurance segment, and market forecasts to 2020.
  • It provides a comparison of the Norwegian life insurance segment with its regional counterparts.
  • It analyzes the various distribution channels for life insurance products in Norway.
  • It profiles the top life insurance companies in Norway 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 Norwegian life insurance segment, and each category within it
  • Understand the demand-side dynamics, key market trends and growth opportunities in the Norwegian life insurance segment
  • Assess the life segment's competitive dynamics
  • Identify growth opportunities and market dynamics in key product categories
  • Gain insights into key regulations governing the Norwegian insurance industry
Key Highlights
  • The Norwegian life segment remained dominated by guaranteed interest life products, with average associated returns above the prevalent interest rate.
  • The government announced plans to remove the VAT exception rule for companies providing financial services and will introduce new taxation by January 2017.
  • On January 1, 2016, new provisions on disability pension associated with private occupational pension became effective.
  • The Norwegian life segment is highly competitive and characterized by price competition.
  • The segment is concentrated, with the top 10 insurers accounting for 99.2% of the segment’s gross written premium in 2015.


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