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Synopsis
Timetric’s 'Non-Life Insurance in Belgium, Key Trends and Opportunities to 2019' report provides a detailed outlook by product category for the Belgian non-life insurance segment, and a comparison of the Belgian 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 (2010–2014) and forecast period (2014–2019).

The report also analyzes distribution channels operating in the segment, gives a comprehensive overview of the Belgian economy and demographics, explains the various types of natural hazard and their impact on the Belgian 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 Belgium, Key Trends and Opportunities to 2019' report provides in-depth market analysis, information and insights into the Belgian non-life insurance segment, including:

- The Belgian non-life insurance segment’s detailed outlook by product category

- A comprehensive overview of the Belgian economy and demographics

- A comparison of the Belgian insurance industry with its regional counterparts

- The various distribution channels in the Belgian non-life insurance segment

- Detailed analysis of natural hazards and their impact on the Belgian insurance industry

- Details of the competitive landscape in the non-life insurance segment in Belgium

- Details of regulatory policy applicable to the Belgian insurance industry

Scope
This report provides a comprehensive analysis of the non-life insurance segment in Belgium:

- It provides historical values for the Belgian non-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 Belgian non-life insurance segment, and market forecasts to 2019.

- It profiles the top non-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 non-life insurance segment, and each category within it.

- Understand the demand-side dynamics, key market trends and growth opportunities in the Belgian 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 Belgian insurance industry, and their impact on companies and the industry's future.

Key Highlights
- Solvency II was implemented on January 1, 2016.

- An increasing focus on The Reinsurance and Insurance Pool (TRIP) to counter the evolving threat of terrorism has led to an annual growth of 3–5% for covering damage owing to terrorism risks since 2012.

- In June 2014, the European Parliament passed new rules for insurance investment products to improve investor protection.

- On September 4, 2014, the European Court of Justice delivered a judgment requiring motor to cover accidents on private land.

Table Of Contents

Non-Life Insurance in Belgium, Key Trends and Opportunities to 2019
Table of Contents
1 Key Facts and Highlights
2 Executive Summary
3 Economy and Demographics
4 Segment Outlook
4.1 Segment Indicators
4.1.1 Gross written premium and penetration
4.1.2 Claims
4.1.3 Profitability
4.1.4 Assets and investments
5 Outlook by Category
5.1 Property Insurance
5.1.1 Product overview
5.1.2 Premium
5.1.3 Claims
5.1.4 Profitability
5.2 Motor Insurance
5.2.1 Product overview
5.2.2 Premium
5.2.3 Claims
5.2.4 Profitability
5.3 Liability Insurance
5.3.1 Product overview
5.3.2 Premium
5.3.3 Claims
5.3.4 Profitability
5.4 Marine, Aviation and Transit Insurance
5.4.1 Product overview
5.4.2 Premium
5.4.3 Claims
5.4.4 Profitability
6 Distribution Channel Outlook
6.1 Analysis by Distribution Channel
6.1.1 Agencies
6.1.2 Insurance brokers
6.1.3 Direct marketing
6.1.4 Bancassurance
7 Natural Hazards
7.1 Floods
7.2 Storms
7.3 Extreme Temperatures
7.4 Earthquakes
7.5 Exposure
8 Competitive Landscape
8.1 Overview
8.2 Leading Companies in the Belgium Non-Life Insurance Segment
8.2.1 Axa Belgium SA - Company Overview
8.2.2 AG Insurance - Company Overview
8.2.3 Ethias - Company Overview
8.2.4 CBC Assurances - Company Overview
8.2.5 Baloise Insurance - Company Overview
8.2.6 Belfius (Belins) Insurance Belgium SA - Company Overview
8.2.7 DKV Belgium - Company Overview
8.2.8 Allianz Belgium - Company Overview
8.2.9 Vivium - Company Overview
8.2.10 PandV Assurance - Company Overview
9 Governance, Risk and Compliance
9.1 Legislation Overview and Historical Evolution
9.2 Latest Changes in Regulations
9.3 Legislation and Market Practice by Type of Insurance
9.3.1 Life insurance
9.3.2 Property insurance
9.3.3 Motor insurance
9.3.4 Liability insurance
9.3.5 Marine, aviation and transit insurance
9.3.6 Personal accident and health insurance
9.4 Compulsory Insurance
9.4.1 Motor third-party liability insurance
9.4.2 Social insurance system
9.4.3 Air carrier and aircraft operators insurance
9.4.4 Professional indemnity insurance for alternative investment fund managers
9.4.5 Clinical trials liability insurance
9.4.6 Professional indemnity insurance for insurance intermediaries
9.5 Supervision and Control
9.5.1 International Association of Insurance Supervisors (IAIS)
9.5.2 European Insurance and Occupational Pensions Authority (EIOPA)
9.5.3 Federation of European Risk Management Associations (FERMA)
9.5.4 National Bank of Belgium (NBB)
9.5.5 The Financial Services and Markets Authority (FSMA)
9.6 Non-Admitted Insurance Regulations
9.6.1 Overview
9.6.2 Intermediaries
9.6.3 Market practices
9.6.4 Fines and penalties
9.7 Company Registration and Operations
9.7.1 Types of insurance organization
9.7.2 Establishing a domestic company
9.7.3 Foreign ownership
9.7.4 Types of license
9.7.5 Capital requirements
9.7.6 Solvency margins
9.7.7 Reserve requirements
9.7.8 Investment regulations
9.7.9 Statutory return requirements
9.7.10 Fee structure
9.8 Taxation
9.8.1 Insurance premium or policy taxation
9.8.2 Withholding taxes on premium paid overseas
9.8.3 Corporate tax
9.8.4 VAT
9.8.5 Captives
9.9 Legal System
9.9.1 Introduction
9.9.2 Access to court
9.9.3 Alternative dispute resolution (ADR)
10 Databook
10.1 Policies and Premium
10.2 Claims and Expenses
10.3 Assets and Investments
10.4 Direct Marketing
10.5 Insurance Brokers and Agencies
10.6 Bancassurance and Other Distribution Channels
10.7 Property Insurance
10.8 Property Insurance by Product
10.9 Motor Insurance
10.1 Motor Insurance by Product
10.11 Liability Insurance
10.12 Marine, Aviation and Transit Insurance
11 Definitions and Methodology
11.1 Definitions
11.2 Methodology
12 About Timetric
12.1 Contact Timetric
12.2 About Timetric
12.3 Timetric's Services
12.4 Disclaimer

List of Tables
Table 1: Belgian Non-Life Insurance - Key Facts, 2014
Table 2: Belgian Non-Life Insurance - Segment Shares of the Top Insurers, 2014
Table 3: Belgium Government Credit Ratings
Table 4: Belgian Non-Life Insurance - Gross Written Premium (EUR Billion and US$ Billion), 2010-2014
Table 5: Belgian Non-Life Insurance - Penetration (%), 2010-2014
Table 6: Belgian Non-Life Insurance - Gross Written Premium (EUR Billion and US$ Billion), 2014-2019
Table 7: Belgian Non-Life Insurance - Penetration (%), 2014-2019
Table 8: Belgian Non-Life Insurance - Premium per Capita (EUR and US$), 2010-2014
Table 9: Belgian Non-Life Insurance - Premium per Capita (EUR and US$), 2014-2019
Table 10: Belgian Non-Life Insurance - Paid Claims (EUR Billion and US$ Billion), 2010-2014
Table 11: Belgian Non-Life Insurance - Paid Claims (EUR Billion and US$ Billion), 2014-2019
Table 12: Belgian Non-Life Insurance - Profitability Ratio (%), 2010-2014
Table 13: Belgian Non-Life Insurance - Profitability Ratio (%), 2014-2019
Table 14: Belgian Non-Life Insurance - Solvency Position, 2010-2014
Table 15: Belgian Non-Life Insurance - Total Assets (EUR Billion and US$ Billion), 2010-2014
Table 16: Belgian Non-Life Insurance - Total Assets (EUR Billion and US$ Billion), 2014-2019
Table 17: Belgian Non-Life Insurance - Total Investment Income (EUR Billion and US$ Billion), 2010-2014
Table 18: Belgian Non-Life Insurance - Total Investment Income (EUR Billion and US$ Billion), 2014-2019
Table 19: Belgian Non-Life Insurance - Investment Portfolio (EUR Billion), 2010-2014
Table 20: Belgian Non-Life Insurance - Investment Portfolio (EUR Billion), 2014-2019
Table 21: Belgian Non-Life Insurance - Direct Written Premium by Category (EUR Billion), 2010-2014
Table 22: Belgian Non-Life Insurance - Direct Written Premium by Category (EUR Billion), 2014-2019
Table 23: Belgian Property Insurance - Direct Written Premium by Sub-Category (EUR Billion), 2010-2014
Table 24: Belgian Property Insurance - Direct Written Premium by Sub-Category (EUR Billion), 2014-2019
Table 25: Belgian Property Insurance - Paid Claims (EUR Billion and US$ Billion), 2010-2014
Table 26: Belgian Property Insurance - Paid Claims (EUR Billion and US$ Billion), 2014-2019
Table 27: Belgian Property Insurance - Loss Ratio (%), 2010-2014
Table 28: Belgian Property Insurance - Loss Ratio (%), 2014-2019
Table 29: Belgian Motor Insurance - Direct Written Premium by Sub-Category (EUR Billion), 2010-2014
Table 30: Belgian Motor Insurance - Direct Written Premium by Sub-Category (EUR Billion), 2014-2019
Table 31: Belgian Motor Insurance - Paid Claims (EUR Billion and US$ Billion), 2010-2014
Table 32: Belgian Motor Insurance - Paid Claims (EUR Billion and US$ Billion), 2014-2019
Table 33: Belgian Motor Insurance - Loss Ratio (%), 2010-2014
Table 34: Belgian Motor Insurance - Loss Ratio (%), 2014-2019
Table 35: Belgian Liability Insurance - Direct Written Premium (EUR Billion), 2010-2014
Table 36: Belgian Liability Insurance - Direct Written Premium (EUR Billion), 2014-2019
Table 37: Belgian Liability Insurance - Paid Claims (EUR Billion and US$ Billion), 2010-2014
Table 38: Belgian Liability Insurance - Paid Claims (EUR Billion and US$ Billion), 2014-2019
Table 39: Belgian Liability Insurance - Loss Ratio (%), 2010-2014
Table 40: Belgian Liability Insurance - Loss Ratio (%), 2014-2019
Table 41: Belgian Transport Network - Global Rankings
Table 42: Belgian Marine, Aviation and Transit Insurance - Direct Written Premium (EUR Million), 2010-2014
Table 43: Belgian Marine, Aviation and Transit Insurance - Direct Written Premium (EUR Million), 2014-2019
Table 44: Belgian Marine, Aviation and Transit Insurance - Paid Claims (EUR Million and US$ Million), 2010-2014
Table 45: Belgian Marine, Aviation and Transit Insurance - Paid Claims (EUR Million and US$ Million), 2014-2019
Table 46: Belgian Marine, Aviation and Transit Insurance - Loss Ratio (%), 2010-2014
Table 47: Belgian Marine, Aviation and Transit Insurance - Loss Ratio (%), 2014-2019
Table 48: Belgian Non-Life Insurance - Direct Written Premium by Distribution Channel (EUR Billion), 2010-2014
Table 49: Belgian Non-Life Insurance - Direct Written Premium by Distribution Channel (EUR Billion), 2014-2019
Table 50: Belgian Non-Life Insurance - Direct Written Premium by Distribution Channel (%), 2010-2019
Table 51: Belgian Top 10 Disasters, Economic Damage, 1990-2014
Table 52: Belgian Average Annual Loss by Hazard
Table 53: Shares of Key Insurers in the Belgian Non-Life Insurance Segment (%), 2014
Table 54: Axa Belgium SA- Key Facts
Table 55: Axa Belgium SA - Key Financials (EUR Million)
Table 56: AG Insurance - Key Facts
Table 57: Axa Belgium SA - Key Financials (EUR Million)
Table 58: Ethias - Key Facts
Table 59: Ethias - Key Financials (EUR Million)
Table 60: CBC Assurances - Key Facts
Table 61: CBC Assurances - Key Financials (EUR Million)
Table 62: Baloise Insurance - Key Facts
Table 63: Baloise Insurance - Key Financials (EUR Million)
Table 64: Belfius Insurance Belgium SA - Key Facts
Table 65: Baloise Insurance - Key Financials (EUR Million)
Table 66: DKV Belgium - Key Facts
Table 67: DKV Belgium - Key Financials (EUR Million)
Table 68: Allianz Belgium - Key Facts
Table 69: Allianz Belgium - Key Financials (EUR Million)
Table 70: Vivium - Key Facts
Table 71: Vivium - Key Financials (EUR Million)
Table 72: PandV Assurance - Key Facts
Table 73: Vivium - Key Financials (EUR Million)
Table 74: Belgium - Insurance Regulatory Framework Key Features
Table 75: Belgium - Life Insurance Regulatory Framework
Table 76: Belgium - Property Insurance Regulatory Framework
Table 77: Belgium - Motor Insurance Regulatory Framework
Table 78: Belgium - Liability Insurance Regulatory Framework
Table 79: Belgium - Minimum Coverage for Aircraft Third-Party Liability per Accident and Aircraft
Table 80: Belgium - Insurance Premium Taxation 2016
Table 81: Belgium - Corporate Tax Rates for the Financial Year Ending 2016
Table 82: Belgian Insurance Industry - Policies and Premium, 2010-2014
Table 83: Belgian Insurance Industry - Policies and Premium, 2014-2019
Table 84: Belgian Non-Life Insurance - Claims and Expenses, 2010-2014
Table 85: Belgian Non-Life Insurance - Claims and Expenses, 2014-2019
Table 86: Belgian Non-Life Insurance - Assets and Investments, 2010-2014
Table 87: Belgian Non-Life Insurance - Assets and Investments, 2014-2019
Table 88: Belgian Non-Life Insurance - Direct Marketing and E-Commerce, 2010-2014
Table 89: Belgian Non-Life Insurance - Direct Marketing and E-Commerce, 2014-2019
Table 90: Belgian Non-Life Insurance - Insurance Brokers and Agencies, 2010-2014
Table 91: Belgian Non-Life Insurance - Insurance Brokers and Agencies, 2014-2019
Table 92: Belgian Non-Life Insurance - Bancassurance and Other Distribution Channels, 2010-2014
Table 93: Belgian Non-Life Insurance - Bancassurance and Other Distribution Channels, 2014-2019
Table 94: Belgian Non-Life Insurance - Property Insurance, 2010-2014
Table 95: Belgian Non-Life Insurance - Property Insurance, 2014-2019
Table 96: Belgian Non-Life Insurance - Property Insurance by Product, 2010-2014
Table 97: Belgian Non-Life Insurance - Property Insurance by Product, 2014-2019
Table 98: Belgian Non-Life Insurance - Motor Insurance, 2010-2014
Table 99: Belgian Non-Life Insurance - Motor Insurance, 2014-2019
Table 100: Belgian Non-Life Insurance - Motor Insurance by Product, 2010-2014
Table 101: Belgian Non-Life Insurance - Motor Insurance by Product, 2014-2019
Table 102: Belgian Non-Life Insurance - Liability Insurance, 2010-2014
Table 103: Belgian Non-Life Insurance - Liability Insurance, 2014-2019
Table 104: Belgian Non-Life Insurance - Marine, Aviation and Transit Insurance, 2010-2014
Table 105: Belgian Non-Life Insurance - Marine, Aviation and Transit Insurance, 2014-2019
Table 106: Insurance Industry Definitions

List of Figures
Figure 1: Belgium Real GDP, 2010-2019
Figure 2: Belgium Euro-US$ Exchange Rate, 2010-2019
Figure 3: Belgian Consumer Price Inflation, 2010-2019
Figure 4: Belgian Current Account Balance (% of GDP), 2010-2019
Figure 5: Belgian Unemployment Rate, 2010-2019
Figure 6: Belgian Population by Age Group, 2010-2025
Figure 7: Belgian Non-Life Insurance - Gross Written Premium (EUR Billion), 2010-2019
Figure 8: Belgian Non-Life Insurance - Penetration (%), 2010-2019
Figure 9: Belgian Non-Life Insurance - Premium per Capita (EUR), 2010-2019
Figure 10: Belgian Non-Life Insurance - Paid Claims (EUR Billion), 2010-2019
Figure 11: Belgian Non-Life Insurance - Profitability Ratio (%), 2010-2019
Figure 12: Belgian Non-Life Insurance - Total Assets (EUR Billion), 2010-2019
Figure 13: Belgian Non-Life Insurance - Total Investment Income (EUR Billion), 2010-2019
Figure 14: Belgian Non-Life Insurance - Investment Portfolio (EUR Billion), 2010-2019
Figure 15: Belgian Non-Life Insurance - Investment Portfolio Dynamics by Category, 2010-2019
Figure 16: Belgian Non-Life Insurance - Direct Written Premium by Category (EUR Billion and US$ Billion), 2010-2019
Figure 17: Belgian Non-Life Insurance - Direct Written Premium Dynamics by Category, 2010-2019
Figure 18: Belgian Property Insurance - Construction Value Output by Category (EUR Billion), 2010-2014
Figure 19: Belgian Property Insurance - Direct Written Premium by Sub-Category (EUR Billion), 2010-2019
Figure 20: Belgian Property Insurance - Direct Written Premium Dynamics by Sub-Category, 2010-2019
Figure 21: Belgian Property Insurance - Paid Claims (EUR Billion), 2010-2019
Figure 22: Belgian Property Insurance - Earned Premium, Incurred Loss and Loss Ratio (EUR Billion and %), 2010-2019
Figure 23: Belgian Motor Insurance - New Passenger Cars registration (‘000 cars), 2010-2015
Figure 24: Belgian Motor Insurance - Direct Written Premium by Sub-Category (EUR Billion), 2010-2019
Figure 25: Belgian Motor Insurance - Direct Written Premium Dynamics by Sub-Category, 2010-2019
Figure 26: Belgian Motor Insurance - Paid Claims (EUR Billion), 2010-2019
Figure 27: Belgian Motor Insurance - Earned Premium, Incurred Loss and Loss Ratio (EUR Billion and %), 2010-2019
Figure 28: Belgian Liability Insurance - Direct Written Premium (EUR Billion), 2010-2019
Figure 29: Belgian Liability Insurance - Paid Claims (EUR Billion), 2010-2019
Figure 30: Belgian Liability Insurance - Earned Premium, Incurred Loss and Loss Ratio (EUR Billion and %), 2010-2019
Figure 31: Belgian Marine Aviation and Transit Insurance- Imports and Exports of Goods and Services (EUR Billion), 2010-2014
Figure 32: Belgian Marine Aviation and Transit Insurance, Gross Weight of Sea Borne Goods Handled in all Ports - Paid Claims (EUR Billion), 2010-2014
Figure 33: Belgian Marine, Aviation and Transit Insurance - Direct Written Premium (EUR Billion), 2010-2019
Figure 34: Belgian Marine, Aviation and Transit Insurance - Paid Claims (EUR Million), 2010-2019
Figure 35: Belgian Marine, Aviation and Transit Insurance - Earned Premium, Incurred Loss and Loss Ratio (EUR Billion and %), 2010-2019
Figure 36: Belgian Non-Life Insurance - Direct Written Premium by Distribution Channel (%), 2010, 2014 and 2019
Figure 37: Belgian Frequency of Hazards by Type, 1990-2014
Figure 38: Belgian Mortality Rate by Type, 1990-2014
Figure 39: Belgian Economic Damages by Type, 1990-2014
Figure 40: Shares of Key Insurers in the Belgian Non-Life Insurance Segment (%), 2014
Figure 41: Belgium - The Three Pillars of Solvency II
Figure 42: Belgium - Insurance Supervision and Control at Various Levels
Figure 43: Belgium - Insurance Regulatory Frameworks for Company Registration and Operation

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