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Non-Life Insurance in Norway, Key Trends and Opportunities to 2020

Synopsis

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

It provides values for key performance indicators such as written premium, incurred loss, loss ratio, commissions and expenses, combined ratio, 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 Norwegian economy and demographics, explains the various types of natural hazard and their impact on the Norwegian insurance industry, 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 ' Non-Life Insurance in Norway, Key Trends and Opportunities to 2020' report provides in-depth market analysis, information and insights into the Norwegian non-life insurance segment, including:

  • The Norwegian non-life insurance segment’s detailed outlook by product category
  • A comprehensive overview of the Norwegian economy and demographics
  • A comparison of the Norwegian insurance industry with its regional counterparts
  • The various distribution channels in the Norwegian non-life insurance segment
  • Detailed analysis of natural hazards and their impact on the Norwegian insurance industry
  • 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 non-life insurance segment in Norway:
  • It provides historical values for the Norwegian non-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 non-life insurance segment, and market forecasts to 2020.
  • It provides a comparison of the Norwegian non-life insurance segment with its regional counterparts.
  • It analyzes the various distribution channels for non-life insurance products in Norway.
  • It analyzes various natural and man-made hazards and their impact on the Norwegian insurance industry.
  • It profiles the top non-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 non-life insurance segment, and each category within it.
  • Understand the demand-side dynamics, key market trends and growth opportunities in the Norwegian non-life insurance segment.
  • Assess the competitive dynamics in the non-life insurance segment.
  • Identify growth opportunities and market dynamics in key product categories.
  • Gain insights into key regulations governing the Norwegian insurance industry, and their impact on companies and the industry's future.
Key Highlights
  • The Norwegian government announced plans to remove the VAT exception rule for companies providing financial services, and introduce new taxation by January 2017.
  • Solvency II came into force in Norway on January 1, 2016.
  • The non-life segment’s growth was driven by property, casualty and collision and business insurance products.
  • Norwegian law also mandates compulsory property insurance against natural disasters.
  • The Norwegian liability insurance category remained very competitive during the review period.
  • In Norway, the distribution of non-life insurance takes place primarily through bancassurance, agents and business partners.


  • Key Facts and Highlights
    • Table Norwegian Non-Life Insurance - Key Facts, 2015
    • Table Norwegian Non-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 Non-Life Insurance - Gross Written Premium (NOK Billion and US$ Billion), 2011-2015
        • Table Norwegian Non-Life Insurance - Gross Written Premium (NOK Billion and US$ Billion), 2015-2020
      • Policies sold
        • Table Norwegian Non-Life Insurance - Number of Policies Sold (Million), 2011-2015
        • Table Norwegian Non-Life Insurance - Number of Policies Sold (Million), 2015-2020
      • Claims
        • Table Norwegian Non-Life Insurance - Paid Claims (NOK Billion and US$ Billion), 2011-2015
        • Table Norwegian Non-Life Insurance - Paid Claims (NOK Billion and US$ Billion), 2015-2020
      • Profitability
        • Table Norwegian Non-Life Insurance - Profitability Ratio (%), 2011-2015
        • Table Norwegian Non-Life Insurance - Profitability Ratio (%), 2015-2020
      • Assets and investments
        • Table Norwegian Non-Life Insurance - Total Assets (NOK Billion and US$ Billion), 2011-2015
        • Table Norwegian Non-Life Insurance - Total Assets (NOK Billion and US$ Billion), 2015-2020
        • Table Norwegian Non-Life Insurance - Total Investment Income (NOK Billion and US$ Billion), 2011-2015
        • Table Norwegian Non-Life Insurance - Total Investment Income (NOK Billion and US$ Billion), 2015-2020
        • Table Norwegian Non-Life Insurance - Investment Portfolio (NOK Billion), 2011-2015
        • Table Norwegian Non-Life Insurance - Investment Portfolio (NOK Billion), 2015-2020
  • Outlook by Category
    • Table Norwegian Non-Life Insurance - Gross Written Premium by Category (NOK Billion), 2011-2015
    • Table Norwegian Non-Life Insurance - Gross Written Premium by Category (NOK Billion), 2015-2020
    • Property Insurance
      • Product overview
      • Premium
        • Table Norwegian Property Insurance - Gross Written Premium by Sub-Category (NOK Billion), 2011-2015
        • Table Norwegian Property Insurance - Gross Written Premium by Sub-Category (NOK Billion), 2015-2020
      • Policies sold
        • Table Norwegian Property Insurance - Number of Policies Sold by Sub-Category (Thousand), 2011-2015
        • Table Norwegian Property Insurance - Number of Policies Sold by Sub-Category (Thousand), 2015-2020
      • Profitability
        • Table Norwegian Property Insurance - Loss Ratio (%), 2011-2015
        • Table Norwegian Property Insurance - Loss Ratio (%), 2015-2020
    • Motor Insurance
      • Product overview
        • Table Norwegian Motor Insurance - Number of Registered Vehicles by Type (Thousand), 2011-2015
        • Table Norwegian Motor Insurance - Road Accidents, 2011-2015
      • Premium
        • Table Norwegian Motor Insurance - Gross Written Premium by Sub-Category (NOK Billion), 2011-2015
        • Table Norwegian Motor Insurance - Gross Written Premium by Sub-Category (NOK Billion), 2015-2020
      • Policies sold
        • Table Norwegian Motor Insurance - Number of Policies Sold by Sub-Category (Thousand), 2011-2015
        • Table Norwegian Motor Insurance - Number of Policies Sold by Sub-Category (Thousand), 2015-2020
      • Profitability
        • Table Norwegian Motor Insurance - Loss Ratio (%), 2011-2015
        • Table Norwegian Motor Insurance - Loss Ratio (%), 2015-2020
    • Liability Insurance
      • Product overview
      • Premium
        • Table Norwegian Liability Insurance - Gross Written Premium by Sub-Category (NOK Billion), 2011-2015
        • Table Norwegian Liability Insurance - Gross Written Premium by Sub-Category (NOK Billion), 2015-2020
      • Policies sold
        • Table Norwegian Liability Insurance - Number of Policies Sold (Million), 2011-2015
        • Table Norwegian Liability Insurance - Number of Policies Sold (Million), 2015-2020
      • Profitability
        • Table Norwegian Liability Insurance - Loss Ratio (%), 2011-2015
        • Table Norwegian Liability Insurance - Loss Ratio (%), 2015-2020
    • Marine, Aviation and Transit Insurance
      • Product overview
        • Table Norwegian Transport Network - Global Rankings
        • Table Norwegian Marine, Aviation and Transit Insurance - Freight Carried, 2011-2015
        • Table Norwegian Marine, Aviation and Transit Insurance - Passenger Traffic, 2011-2015
      • Premium
        • Table Norwegian Marine, Aviation and Transit Insurance - Gross Written Premium by Sub-Category (NOK Billion), 2011-2015
        • Table Norwegian Marine, Aviation and Transit Insurance - Gross Written Premium by Sub-Category (NOK Billion), 2015-2020
      • Profitability
        • Table Norwegian Marine, Aviation and Transit Insurance - Loss Ratio (%), 2011-2015
        • Table Norwegian Marine, Aviation and Transit Insurance - Loss Ratio (%), 2015-2020
  • Distribution Channel Outlook
  • Natural Hazards
    • Table Norwegian Average Annual Loss by Hazard, 1990-2014
    • Flooding
    • Storms
    • Avalanche
    • Landslides
    • Wildfires
    • Exposure
  • Competitive Landscape
    • Table Norwegian Non-Life Segment - Market Shares of Leading Insurers (%), 2015
    • Table Norwegian Non-Life Segment - Market Shares of Leading Insurers (%), 2015
    • Company Profiles
      • Gjensidige Forsikring - company overview
        • Table Gjensidige Forsikring - Key Facts
        • Table Gjensidige Forsikring - Key Financials (NOK Million), 2011-2015
      • Sparebank 1 Skadeforsikring AS - company overview
        • Table Sparebank 1 Forsikring - Key Facts
        • Table Sparebank 1 Forsikring - Key Financials (NOK Million), 2011-2015
      • Eika Forsikring AS - company overview
        • Table Eika Forsikring - Key Facts
        • Table Eika Forsikring - Key Financials (NOK Million), 2011-2015
      • DNB Forsikring AS - company overview
        • Table DNB Forsikring - Key Facts
      • Frende Skadeforsikring AS - company overview
        • Table Frende Skadeforsikring - Key Facts
        • Table Frende Skadeforsikring - 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 Insurance Industry - Policies and Premium, 2011-2015
      • Table Norwegian Insurance Industry - Policies and Premium, 2015-2020
    • Claims and Expenses
      • Table Norwegian Non-Life Insurance - Claims and Expenses, 2011-2015
      • Table Norwegian Non-Life Insurance - Claims and Expenses, 2015-2020
    • Assets and Investments
      • Table Norwegian Non-Life Insurance - Assets and Investments, 2011-2015
      • Table Norwegian Non-Life Insurance - Assets and Investments, 2015-2020
    • Property Insurance
      • Table Norwegian Non-Life Insurance - Property Insurance, 2011-2015
      • Table Norwegian Non-Life Insurance - Property Insurance, 2015-2020
    • Property Insurance by Product
      • Table Norwegian Non-Life Insurance - Property Insurance by Product, 2011-2015
      • Table Norwegian Non-Life Insurance - Property Insurance by Product, 2015-2020
    • Motor Insurance
      • Table Norwegian Non-Life Insurance - Motor Insurance, 2011-2015
      • Table Norwegian Non-Life Insurance - Motor Insurance, 2015-2020
    • Motor Insurance by Product
      • Table Norwegian Non-Life Insurance - Motor Insurance by Product, 2011-2015
      • Table Norwegian Non-Life Insurance - Motor Insurance by Product, 2015-2020
    • Liability Insurance
      • Table Norwegian Non-Life Insurance - Liability Insurance, 2011-2015
      • Table Norwegian Non-Life Insurance - Liability Insurance, 2015-2020
    • Marine, Aviation and Transit Insurance
      • Table Norwegian Non-Life Insurance - Marine, Aviation and Transit Insurance, 2011-2015
      • Table Norwegian Non-Life Insurance - Marine, Aviation and Transit Insurance, 2015-2020
  • Definitions and Methodology
    • Definitions
      • Table Insurance Industry Definitions
  • About Timetric
    • Contact Timetric
    • About Timetric
    • Timetric's Services
    • Disclaimer

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