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Synopsis
Timetric’s 'Non-Life Insurance in Norway, Key Trends and Opportunities to 2019' 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 (2010–2014) and forecast period (2014–2019).

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 2019' 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 2010–2014 review period, and projected figures for the 2014–2019 forecast period.

- It offers a detailed analysis of the key categories in the Norwegian non-life insurance segment, and market forecasts to 2019.

- It analyzes the various distribution channels for non-life insurance products in Norway.

- 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
- Non-life insurance accounted for 39.6% of the Norwegian insurance industry's gross written premium in 2014.

- The growth of property insurance was supported by government investments in public transport infrastructure, low unemployment, and a rise consumer and investor confidence.

- The non-life segment’s loss ratio decreased from 71.5% in 2010 to 67.6% in 2014, while the combined ratio fell from 100.5% to 88.3%.

- The higher capital requirement is expected to force medium-sized and smaller companies to either exit the industry or merge with large insurers.

- Insurers are prioritizing sales platforms such as online and call centers to increase operational efficiency.

- Domestic insurers contributed 63.0% of the non-life gross written premium in 2014 followed by foreign insurers with 37.0%.

Table Of Contents

Non-Life Insurance in Norway, 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 Regional Comparison
4.2 Segment Indicators
4.2.1 Gross written premium and penetration
4.2.2 Claims
4.2.3 Profitability
4.2.4 Assets and investments
5 Outlook by Category
5.1 Property Insurance
5.1.1 Product overview
5.1.2 Premium
5.1.3 Policies
5.1.4 Claims
5.1.5 Profitability
5.2 Motor Insurance
5.2.1 Product overview
5.2.2 Premium
5.2.3 Policies
5.2.4 Claims
5.2.5 Profitability
5.3 Liability Insurance
5.3.1 Product overview
5.3.2 Premium
5.3.3 Policies
5.3.4 Claims
5.3.5 Profitability
5.4 Marine, Aviation and Transit Insurance
5.4.1 Product overview
5.4.2 Premium
5.4.3 Policies
5.4.4 Claims
5.4.5 Profitability
6 Distribution Channel Outlook
7 Natural Hazards
7.1 Flooding
7.2 Cyclones and Storms
7.3 Exposure
8 Competitive Landscape
8.1 Overview
8.2 Company Rankings
8.3 Comparison of the Leading Insurers
8.3.1 Gross written premium
8.4 Company Profiles
8.4.1 Gjensidige Forsikring ASA - company overview
8.4.2 If Skadeforsikring NUF - company overview
8.4.3 Tryg Forsikring - company overview
8.4.4 Sparebank 1 Forsikring - company overview
8.4.5 DNB Forsikring ASA - 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 Workmen's compensation
9.4.2 Motor third-party liability insurance
9.4.3 Natural disaster insurance for property cover
9.4.4 Professional indemnity insurance for alternative investment fund managers
9.5 Supervision and Control
9.5.1 International Association of Insurers Supervisors
9.5.2 European Insurance and Occupational Pensions Authority (EIOPA)
9.5.3 The Financial Supervisory Authority of Norway (FSA)
9.5.4 The Nordic Association of Marine Insurers (Sjøassurandørernes Centralforening - Cefor)
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 local 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
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: Norwegian Non-Life Insurance - Key Facts, 2014
Table 2: Norwegian Non-Life Insurance - Segment Shares of the Top Insurers, 2014
Table 3: Norwegian Government Credit Ratings
Table 4: Norwegian Non-Life Insurance - Gross Written Premium (NOK Billion and US$ Billion), 2010-2014
Table 5: Norwegian Non-Life Insurance - Penetration (%), 2010-2014
Table 6: Norwegian Non-Life Insurance - Gross Written Premium (NOK Billion and US$ Billion), 2014-2019
Table 7: Norwegian Non-Life Insurance - Penetration (%), 2014-2019
Table 8: Norwegian Non-Life Insurance - Premium per Capita (NOK and US$), 2010-2014
Table 9: Norwegian Non-Life Insurance - Premium per Capita (NOK and US$), 2014-2019
Table 10: Norwegian Non-Life Insurance - Paid Claims (NOK Billion and US$ Billion), 2010-2014
Table 11: Norwegian Non-Life Insurance - Paid Claims (NOK Billion and US$ Billion), 2014-2019
Table 12: Norwegian Non-Life Insurance - Profitability Ratio (%), 2010-2014
Table 13: Norwegian Non-Life Insurance - Profitability Ratio (%), 2014-2019
Table 14: Norwegian Non-Life Insurance - Total Assets (NOK Billion and US$ Billion), 2010-2014
Table 15: Norwegian Non-Life Insurance - Total Assets (NOK Billion and US$ Billion), 2014-2019
Table 16: Norwegian Non-Life Insurance - Total Investment Income (NOK Billion and US$ Billion), 2010-2014
Table 17: Norwegian Non-Life Insurance - Total Investment Income (NOK Billion and US$ Billion), 2014-2019
Table 18: Norwegian Non-Life Insurance - Investment Portfolio (NOK Billion), 2010-2014
Table 19: Norwegian Non-Life Insurance - Investment Portfolio (NOK Billion), 2014-2019
Table 20: Norwegian Non-Life Insurance - Gross Written Premium by Category (NOK Billion), 2010-2014
Table 21: Norwegian Non-Life Insurance - Gross Written Premium by Category (NOK Billion), 2014-2019
Table 22: Norwegian Property Insurance - Gross Written Premium by Sub-Category (NOK Billion), 2010-2014
Table 23: Norwegian Property Insurance - Gross Written Premium by Sub-Category (NOK Billion), 2014-2019
Table 24: Norwegian Property Insurance - Number of Policies Sold by Sub-Category (Thousand), 2010-2014
Table 25: Norwegian Property Insurance - Number of Policies Sold by Sub-Category (Thousand), 2014-2019
Table 26: Norwegian Property Insurance - Paid Claims (NOK Billion and US$ Billion), 2010-2014
Table 27: Norwegian Property Insurance - Paid Claims (NOK Billion and US$ Billion), 2014-2019
Table 28: Norwegian Property Insurance - Loss Ratio (%), 2010-2014
Table 29: Norwegian Property Insurance - Loss Ratio (%), 2014-2019
Table 30: Norwegian Motor Insurance - Gross Written Premium by Sub-Category (NOK Billion), 2010-2014
Table 31: Norwegian Motor Insurance - Gross Written Premium by Sub-Category (NOK Billion), 2014-2019
Table 32: Norwegian Motor Insurance - Number of Policies Sold by Sub-Category (Thousand), 2010-2014
Table 33: Norwegian Motor Insurance - Number of Policies Sold by Sub-Category (Thousand), 2014-2019
Table 34: Norwegian Motor Insurance - Paid Claims (NOK Billion and US$ Billion), 2010-2014
Table 35: Norwegian Motor Insurance - Paid Claims (NOK Billion and US$ Billion), 2014-2019
Table 36: Norwegian Motor Insurance - Loss Ratio (%), 2010-2014
Table 37: Norwegian Motor Insurance - Loss Ratio (%), 2014-2019
Table 38: Norwegian Liability Insurance - Gross Written Premium (NOK Billion), 2010-2014
Table 39: Norwegian Liability Insurance - Gross Written Premium (NOK Billion), 2014-2019
Table 40: Norwegian Liability Insurance - Number of Policies Sold (Thousand), 2010-2014
Table 41: Norwegian Liability Insurance - Number of Policies Sold (Thousand), 2014-2019
Table 42: Norwegian Liability Insurance - Paid Claims (NOK Billion and US$ Billion), 2010-2014
Table 43: Norwegian Liability Insurance - Paid Claims (NOK Billion and US$ Billion), 2014-2019
Table 44: Norwegian Liability Insurance - Loss Ratio (%), 2010-2014
Table 45: Norwegian Liability Insurance - Loss Ratio (%), 2014-2019
Table 46: Norwegian Marine, Aviation and Transit Insurance - Gross Written Premium (NOK Billion), 2010-2014
Table 47: Norwegian Marine, Aviation and Transit Insurance - Gross Written Premium (NOK Billion), 2014-2019
Table 48: Norwegian Marine, Aviation and Transit Insurance - Number of Policies Sold (Thousand), 2010-2014
Table 49: Norwegian Marine, Aviation and Transit Insurance - Number of Policies Sold (Thousand), 2014-2019
Table 50: Norwegian Marine, Aviation and Transit Insurance - Paid Claims (NOK Billion and US$ Billion), 2010-2014
Table 51: Norwegian Marine, Aviation and Transit Insurance - Paid Claims (NOK Billion and US$ Billion), 2014-2019
Table 52: Norwegian Marine, Aviation and Transit Insurance - Loss Ratio (%), 2010-2014
Table 53: Norwegian Marine, Aviation and Transit Insurance - Loss Ratio (%), 2014-2019
Table 54: Norwegian Average Annual Loss by Hazard (US$ Million), 1990-2014
Table 55: Norwegian Non-Life Insurance - Shares of Top Insurers (%), 2014
Table 56: Gjensidige Forsikring ASA - Key Facts
Table 57: Gjensidige Forsikring ASA - Key Financials (NOK Million), 2010-2014
Table 58: If Skadeforsikring NUF - Key Facts
Table 59: Tryg Forsikring - Key Facts
Table 60: Tryg Forsikring - Key Financials (NOK Million), 2010-2014
Table 61: Sparebank 1 Forsikring - Key Facts
Table 62: Sparebank 1 Forsikring - Key Financials (NOK Million), 2010-2014
Table 63: DNB Forsikring ASA - Key Facts
Table 64: Norway - Insurance Regulatory Framework Key Features
Table 65: Norway - Life Insurance Regulatory Framework
Table 66: Norway - Property Insurance Regulatory Framework
Table 67: Norway - Motor Insurance Regulatory Framework
Table 68: Norway - Liability Insurance Regulatory Framework
Table 69: Norway - Corporate Tax Rates for the Financial Year 2015
Table 70: Norwegian Insurance Industry - Policies and Premium, 2010-2014
Table 71: Norwegian Insurance Industry - Policies and Premium, 2014-2019
Table 72: Norwegian Non-Life Insurance - Policies and Premium, 2010-2014
Table 73: Norwegian Non-Life Insurance - Policies and Premium, 2014-2019
Table 74: Norwegian Non-Life Insurance - Property Insurance Policies and Premium, 2010-2014
Table 75: Norwegian Non-Life Insurance - Property Insurance Policies and Premium, 2014-2019
Table 76: Norwegian Non-Life Insurance - Motor Insurance Policies and Premium, 2010-2014
Table 77: Norwegian Non-Life Insurance - Motor Insurance Policies and Premium, 2014-2019
Table 78: Norwegian Non-Life Insurance - Liability Insurance Policies and Premium, 2010-2014
Table 79: Norwegian Non-Life Insurance - Liability Insurance Policies and Premium, 2014-2019
Table 80: Norwegian Non-Life Insurance - Marine, Aviation and Transit Insurance Policies and Premium, 2010-2014
Table 81: Norwegian Non-Life Insurance - Marine, Aviation and Transit Insurance Policies and Premium, 2014-2019
Table 82: Norwegian Non-Life Insurance - Gross Written Premium by Sub-Category (NOK), 2010-2014
Table 83: Norwegian Non-Life Insurance - Gross Written Premium by Sub-Category (NOK), 2014-2019
Table 84: Norwegian Non-Life Insurance - Direct Written Premium by Sub-Category (NOK), 2010-2014
Table 85: Norwegian Non-Life Insurance - Direct Written Premium by Sub-Category (NOK), 2014-2019
Table 86: Norwegian Non-Life Insurance - Penetration by Sub-Category (%), 2010-2014
Table 87: Norwegian Non-Life Insurance - Penetration by Sub-Category (%), 2014-2019
Table 88: Norwegian Non-Life Insurance - Number of Active Policies by Sub-Category (Thousand), 2010-2014
Table 89: Norwegian Non-Life Insurance - Number of Active Policies by Sub-Category (Thousand), 2014-2019
Table 90: Insurance Industry Definitions

List of Figures
Figure 1: Norwegian Real GDP (NOK Trillion), 2010-2019
Figure 2: NOK/US$ Exchange Rate, 2010-2019
Figure 3: Norwegian Consumer Price Inflation (%), 2010-2019
Figure 4: Norwegian Current Account Balance as Percentage of GDP (%), 2010-2014
Figure 5: Norwegian Unemployment Rate, 2010-2019
Figure 6: Norwegian Population by Age Group, 1991-2025
Figure 7: Norwegian Non-Life Insurance Penetration - Regional Comparison (%), 2014
Figure 8: Norwegian Insurance Segment Direct Written Premium Shares - Regional Comparison (%), 2014
Figure 9: Norwegian Non-Life Insurance - Gross Written Premium (NOK Billion), 2010-2019
Figure 10: Norwegian Non-Life Insurance - Penetration (%), 2010-2019
Figure 11: Norwegian Non-Life Insurance - Premium per Capita (NOK), 2010-2019
Figure 12: Norwegian Non-Life Insurance - Paid Claims (NOK Billion), 2010-2019
Figure 13: Norwegian Non-Life Insurance - Profitability Ratio (%), 2010-2019
Figure 14: Norwegian Non-Life Insurance - Total Assets (NOK Billion), 2010-2019
Figure 15: Norwegian Non-Life Insurance - Total Investment Income (NOK Billion), 2010-2019
Figure 16: Norwegian Non-Life Insurance - Investment Portfolio (NOK Billion), 2010-2019
Figure 17: Norwegian Non-Life Insurance - Investment Portfolio Dynamics by Category, 2010-2019
Figure 18: Norwegian Non-Life Insurance - Gross Written Premium by Category (NOK Billion and US$ Billion), 2010-2019
Figure 19: Norwegian Non-Life Insurance - Gross Written Premium Dynamics by Category, 2010-2019
Figure 20: Norwegian Property Insurance - Construction Value Output by Category (NOK Billion), 2010-2014
Figure 21: Norwegian Property Insurance - Gross Written Premium by Sub-Category (NOK Billion), 2010-2019
Figure 22: Norwegian Property Insurance - Gross Written Premium Dynamics by Sub-Category, 2010-2019
Figure 23: Norwegian Property Insurance - Number of Policies Sold by Sub-Category (Thousand), 2010-2019
Figure 24: Norwegian Property Insurance - Paid Claims (NOK Billion), 2010-2019
Figure 25: Norwegian Property Insurance - Earned Premium, Incurred Loss and Loss Ratio (NOK Billion and %), 2010-2019
Figure 26: Norwegian Motor Vehicle's Registration (Million) - 2010-2019
Figure 27: Norwegian Motor Insurance - Gross Written Premium by Sub-Category (NOK Billion), 2010-2019
Figure 28: Norwegian Motor Insurance - Gross Written Premium Dynamics by Sub-Category, 2010-2019
Figure 29: Norwegian Motor Insurance - Number of Policies Sold by Sub-Category (Thousand), 2010-2019
Figure 30: Norwegian Motor Insurance - Paid Claims (NOK Billion), 2010-2019
Figure 31: Norwegian Motor Insurance- Earned Premium, Incurred Loss and Loss Ratio (NOK Billion and %), 2010-2019
Figure 32: Norwegian Liability Insurance - Gross Written Premium (NOK Billion), 2010-2019
Figure 33: Norwegian Liability Insurance - Number of Policies Sold (Thousand), 2010-2019
Figure 34: Norwegian Liability Insurance - Paid Claims (NOK Billion), 2010-2019
Figure 35: Norwegian Liability Insurance - Earned Premium, Incurred Loss and Loss Ratio (NOK Billion and %), 2010-2019
Figure 36: Norwegian Exports and Imports of Goods and Services (NOK Billion), 2010-2014
Figure 37: Norwegian Marine, Aviation and Transit Insurance - Gross Written Premium (NOK Billion), 2010-2019
Figure 38: Norwegian Marine, Aviation and Transit Insurance - Number of Policies Sold (Thousand), 2010-2019
Figure 39: Norwegian Marine, Aviation and Transit Insurance - Paid Claims (NOK Billion), 2010-2019
Figure 40: Norwegian Marine, Aviation and Transit Insurance - Earned Premium, Incurred Loss and Loss Ratio (NOK Billion and %), 2010-2019
Figure 41: Norwegian Frequency of Hazards by Type (%), 1990-2014
Figure 42: Norwegian Mortality of Hazards by Type, 1990-2014
Figure 43: Norwegian Economic issues of Hazards by Type, 1990-2014
Figure 44: Norwegian Non-Life Insurance - Shares of Top Insurers (%), 2014
Figure 45: Norwegian Non-Life Insurance - Top Insurers' Gross Written Premium Growth Relative to Segment Overall (%), 2010-2014
Figure 46: Norway - The Three Pillars of Solvency II
Figure 47: Norway - Insurance Supervision and Control at Various Levels
Figure 48: Norway - Insurance Regulatory Frameworks for Company Registration and Operation

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