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Synopsis
Timetric’s 'Non-Life Insurance in Luxembourg, Key Trends and Opportunities to 2019' report provides a detailed outlook by product category for the Luxembourg non-life insurance segment, and a comparison of the Luxembourg 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 Luxembourg economy and demographics, explains the various types of natural hazard and their impact on the Luxembourg 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 Luxembourg, Key Trends and Opportunities to 2019' report provides in-depth market analysis, information and insights into the Luxembourg non-life insurance segment, including:

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

- A comprehensive overview of Luxembourg's economy and demographics

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

- A detailed analysis of natural hazards and their impact on the Luxembourg insurance industry

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

- Details of regulatory policies applicable to Luxembourg insurance industry

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

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

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

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

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

Key Highlights
- Property insurance is expected to remain the largest category over the forecast period.

- Traffic accidents are a leading cause of death in the country, primarily as a result of unsafe driving practices, poor road conditions, and ineffective traffic rules.

- The motor hull sub-category accounted for 60.1% of the category’s gross written premium in 2014, while motor third-party liability accounted for the remaining 39.9%.

- Strong air traffic business has encouraged aviation insurance in Luxembourg, supporting growth in aviation insurers.

- In 2014, professional indemnity insurance for alternative investment fund managers was made compulsory in all EU countries.

Table Of Contents

Non-Life Insurance in Luxembourg, 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 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 Insurance brokers
6.1.2 Agencies
6.1.3 Direct marketing
6.1.4 Bancassurance
6.1.5 Other channels
7 Natural Hazards
7.1 Storms
7.2 Extreme Temperatures
7.3 Floods
7.4 Exposure
8 Competitive Landscape
8.1 Overview
8.2 Leading Companies in the Luxembourg Non-Life Insurance Segment
8.2.1 Swiss Re International - company overview
8.2.2 Foyer Assurances - company overview
8.2.3 La Luxembourgeoise - company overview
8.2.4 The Ship-Owners Mutual Protection and Indemnity Association - company overview
8.2.5 The West of England Ship Owners Mutual Insurance Association - 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 (MTPL)
9.4.2 Social insurance system
9.4.3 Air carriers and aircraft operators liability insurance
9.4.4 Marine insurance
9.4.5 Professional indemnity insurance for alternative investment fund managers
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 Insurance Commission (Commissariat aux Assurance)
9.5.4 Federation of European Risk Management Associations (FERMA)
9.5.5 Association of Insurance Companies and Reinsurance (ACA)
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
10.2 Claims and Expenses
10.3 Assets and Investments
10.4 Direct Marketing and E-Commerce
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: Luxembourg Non-Life Insurance - Key Facts, 2014
Table 2: Luxembourg Non-Life Insurance - Segment Shares of the Top Insurers, 2014
Table 3: Luxembourg Government Credit Ratings
Table 4: Luxembourg Non-Life Insurance - Gross Written Premium (EUR Billion and US$ Billion), 2010-2014
Table 5: Luxembourg Non-Life Insurance - Penetration (%), 2010-2014
Table 6: Luxembourg Non-Life Insurance - Gross Written Premium (EUR Billion and US$ Billion), 2014-2019
Table 7: Luxembourg Non-Life Insurance - Penetration (%), 2014-2019
Table 8: Luxembourg Non-Life Insurance - Premium per Capita (EUR and US$), 2010-2014
Table 9: Luxembourg Non-Life Insurance - Premium per Capita (EUR and US$), 2014-2019
Table 10: Luxembourg Non-Life Insurance - Paid Claims (EUR Billion and US$ Billion), 2010-2014
Table 11: Luxembourg Non-Life Insurance - Paid Claims (EUR Billion and US$ Billion), 2014-2019
Table 12: Luxembourg Non-Life Insurance - Profitability Ratio (%), 2010-2014
Table 13: Luxembourg Non-Life Insurance - Profitability Ratio (%), 2014-2019
Table 14: Luxembourg Non-Life Insurance - Total Assets (EUR Billion and US$ Billion), 2010-2014
Table 15: Luxembourg Non-Life Insurance - Total Assets (EUR Billion and US$ Billion), 2014-2019
Table 16: Luxembourg Non-Life Insurance - Investment Portfolio (EUR Billion), 2010-2014
Table 17: Luxembourg Non-Life Insurance - Investment Portfolio (EUR Billion), 2014-2019
Table 18: Luxembourg Non-Life Insurance - Gross Written Premium by Category (EUR Billion), 2010-2014
Table 19: Luxembourg Non-Life Insurance - Gross Written Premium by Category (EUR Billion), 2014-2019
Table 20: Luxembourg Property Insurance - Gross Written Premium by Sub-Category (EUR Million), 2010-2014
Table 21: Luxembourg Property Insurance - Gross Written Premium by Sub-Category (EUR Million), 2014-2019
Table 22: Luxembourg Property Insurance - Paid Claims (EUR Billion and US$ Billion), 2010-2014
Table 23: Luxembourg Property Insurance - Paid Claims (EUR Billion and US$ Billion), 2014-2019
Table 24: Luxembourg Property Insurance - Loss Ratio (%), 2010-2014
Table 25: Luxembourg Property Insurance - Loss Ratio (%), 2014-2019
Table 26: Luxembourg Motor Insurance - Gross Written Premium by Sub-Category (EUR Million), 2010-2014
Table 27: Luxembourg Motor Insurance - Gross Written Premium by Sub-Category (EUR Million), 2014-2019
Table 28: Luxembourg Motor Insurance - Paid Claims (EUR Million and US$ Million), 2010-2014
Table 29: Luxembourg Motor Insurance - Paid Claims (EUR Million and US$ Million), 2014-2019
Table 30: Luxembourg Motor Insurance - Loss Ratio (%), 2010-2014
Table 31: Luxembourg Motor Insurance - Loss Ratio (%), 2014-2019
Table 32: Luxembourg Liability Insurance - Gross Written Premium (EUR Million), 2010-2014
Table 33: Luxembourg Liability Insurance - Gross Written Premium (EUR Million), 2014-2019
Table 34: Luxembourg Liability Insurance - Paid Claims (EUR Million and US$ Million), 2010-2014
Table 35: Luxembourg Liability Insurance - Paid Claims (EUR Million and US$ Million), 2014-2019
Table 36: Luxembourg Liability Insurance - Loss Ratio (%), 2010-2014
Table 37: Luxembourg Liability Insurance - Loss Ratio (%), 2014-2019
Table 38: Luxembourg Marine, Aviation and Transit Insurance - Gross Written Premium (EUR Billion), 2010-2014
Table 39: Luxembourg Marine, Aviation and Transit Insurance - Gross Written Premium (EUR Billion), 2014-2019
Table 40: Luxembourg Marine, Aviation and Transit Insurance - Paid Claims (EUR Million and US$ Million), 2010-2014
Table 41: Luxembourg Marine, Aviation and Transit Insurance - Paid Claims (EUR Million and US$ Million), 2014-2019
Table 42: Luxembourg Marine, Aviation and Transit Insurance - Loss Ratio (%), 2010-2014
Table 43: Luxembourg Marine, Aviation and Transit Insurance - Loss Ratio (%), 2014-2019
Table 44: Luxembourg Non-Life Insurance - Direct Written Premium by Distribution Channel (EUR Billion), 2010-2014
Table 45: Luxembourg Non-Life Insurance - Direct Written Premium by Distribution Channel (EUR Billion), 2014-2019
Table 46: Luxembourg Non-Life Insurance - Direct Written Premium by Distribution Channel (%), 2010-2019
Table 47: Luxembourg Average Annual Loss by Hazard
Table 48: Luxembourg Non-Life Insurance - Segment Shares (%), 2014
Table 49: Swiss Re International - Key Facts
Table 50: Swiss Re International - Key Financials (EUR Million), 2010-2014
Table 51: Foyer Assurances - Key Facts
Table 52: Foyer Assurances - Key Financials (EUR Million), 2010-2014
Table 53: La Luxembourgeoise - Key Facts
Table 54: La Luxembourgeoise - Key Financials (EUR Million), 2010-2014
Table 55: The Ship-Owners Mutual Protection and Indemnity Association - Key Facts
Table 56: The Ship-Owners Mutual Protection and Indemnity Association - Key Financials (EUR Million), 2010-2014
Table 57: The West of England Ship Owners Mutual Insurance Association - Key Facts
Table 58: The West of England Ship Owners Mutual Insurance Association - Key Financials (EUR Million), 2010-2014
Table 59: Luxembourg - Insurance Regulatory Framework Key Features
Table 60: Luxembourg - Life Insurance Regulatory Framework
Table 61: Luxembourg - Property Insurance Regulatory Framework
Table 62: Luxembourg - Motor Insurance Regulatory Framework
Table 63: Luxembourg - Liability Insurance Regulatory Framework
Table 64: Luxembourg - Minimum Cover for Aircraft Third-Party Liability Per Accident Per
Table 65: Luxembourg - Insurance Premium Taxation
Table 66: Luxembourg - Corporate Tax Rate for the Financial Year 2015
Table 67: Luxembourg Insurance Industry - Policies and Premium, 2010-2014
Table 68: Luxembourg Insurance Industry - Policies and Premium, 2014-2019
Table 69: Luxembourg Non-Life Insurance - Claims and Expenses, 2010-2014
Table 70: Luxembourg Non-Life Insurance - Claims and Expenses, 2014-2019
Table 71: Luxembourg Non-Life Insurance - Assets and Investments, 2010-2014
Table 72: Luxembourg Non-Life Insurance - Assets and Investments, 2014-2019
Table 73: Luxembourg Non-Life Insurance - Direct Marketing, 2010-2014
Table 74: Luxembourg Non-Life Insurance - Direct Marketing, 2014-2019
Table 75: Luxembourg Non-Life Insurance - Insurance Brokers and Agencies, 2010-2014
Table 76: Luxembourg Non-Life Insurance - Insurance Brokers and Agencies, 2014-2019
Table 77: Luxembourg Non-Life Insurance - Bancassurance and Other Distribution Channels, 2010-2014
Table 78: Luxembourg Non-Life Insurance - Bancassurance and Other Distribution Channels, 2014-2019
Table 79: Luxembourg Non-Life Insurance - Property Insurance, 2010-2014
Table 80: Luxembourg Non-Life Insurance - Property Insurance, 2014-2019
Table 81: Luxembourg Non-Life Insurance - Property Insurance by Product, 2010-2014
Table 82: Luxembourg Non-Life Insurance - Property Insurance by Product, 2014-2019
Table 83: Luxembourg Non-Life Insurance - Motor Insurance, 2010-2014
Table 84: Luxembourg Non-Life Insurance - Motor Insurance, 2014-2019
Table 85: Luxembourg Non-Life Insurance - Motor Insurance by Product, 2010-2014
Table 86: Luxembourg Non-Life Insurance - Motor Insurance by Product, 2014-2019
Table 87: Luxembourg Non-Life Insurance - Liability Insurance, 2010-2014
Table 88: Luxembourg Non-Life Insurance - Liability Insurance, 2014-2019
Table 89: Luxembourg Non-Life Insurance - Marine, Aviation and Transit Insurance, 2010-2014
Table 90: Luxembourg Non-Life Insurance - Marine, Aviation and Transit Insurance, 2014-2019
Table 91: Insurance Industry Definitions

List of Figures
Figure 1: Luxembourg Real GDP (EUR Billion), 2010-2019
Figure 2: EUR-US$ Exchange Rate, 2010-2019
Figure 3: Luxembourg Consumer Price Inflation, 2010-2019
Figure 4: Luxembourg Current Account Balance as a Percentage of GDP (%), 2010-2014
Figure 5: Luxembourg Unemployment Rate, 2010-2019
Figure 6: Luxembourg Population by Age Group, 1991-2025
Figure 7: Luxembourg Non-Life Insurance Penetration - Regional Comparison (%), 2014
Figure 8: Luxembourg Insurance Segment Direct Written Premium Shares - Regional Comparison (%), 2014
Figure 9: Luxembourg Non-Life Insurance - Gross Written Premium (EUR Billion), 2010-2019
Figure 10: Luxembourg Non-Life Insurance - Penetration (%), 2010-2019
Figure 11: Luxembourg Non-Life Insurance - Premium per Capita (EUR), 2010-2019
Figure 12: Luxembourg Non-Life Insurance - Paid Claims (EUR Billion), 2010-2019
Figure 13: Luxembourg Non-Life Insurance - Profitability Ratio (%), 2010-2019
Figure 14: Luxembourg Non-Life Insurance - Total Assets (EUR Billion), 2010-2019
Figure 15: Luxembourg Non-Life Insurance - Investment Portfolio (EUR Billion), 2010-2019
Figure 16: Luxembourg Non-Life Insurance - Investment Portfolio Dynamics by Category, 2010-2019
Figure 17: Luxembourg Non-Life Insurance - Gross Written Premium by Category (EUR Billion and US$ Billion), 2010-2019
Figure 18: Luxembourg Non-Life Insurance - Gross Written Premium Dynamics by Category, 2010-2019
Figure 19: Luxembourg Property Insurance - Gross Written Premium by Sub-Category (EUR Million), 2010-2019
Figure 20: Luxembourg Property Insurance - Gross Written Premium Dynamics by Sub-Category, 2010-2019
Figure 21: Luxembourg Property Insurance - Paid Claims (EUR Billion), 2010-2019
Figure 22: Luxembourg Property Insurance - Earned Premium, Incurred Loss and Loss Ratio (EUR Billion and %), 2010-2019
Figure 23: Luxembourg Motor Insurance - Registered Vehicles By Type 2010-2014
Figure 24: Luxembourg Motor Insurance - Gross Written Premium by Sub-Category (EUR Billion), 2010-2019
Figure 25: Luxembourg Motor Insurance - Gross Written Premium Dynamics by Sub-Category, 2010-2019
Figure 26: Luxembourg Motor Insurance - Paid Claims (EUR Million), 2010-2019
Figure 27: Luxembourg Motor Insurance - Earned Premium, Incurred Loss and Loss Ratio (EUR Million and %), 2010-2019
Figure 28: Luxembourg Liability Insurance - Gross Written Premium (EUR Million), 2010-2019
Figure 29: Luxembourg Liability Insurance - Paid Claims (EUR Million), 2010-2019
Figure 30: Luxembourg Liability Insurance - Earned Premium, Incurred Loss and Loss Ratio (EUR Million and %), 2010-2019
Figure 31: Luxembourg Marine, Aviation and Transit Insurance - Gross Written Premium (EUR Billion), 2010-2019
Figure 32: Luxembourg Marine, Aviation and Transit Insurance - Paid Claims (EUR Million), 2010-2019
Figure 33: Luxembourg Marine, Aviation and Transit Insurance - Earned Premium, Incurred Loss and Loss Ratio (EUR Million and %), 2010-2019
Figure 34: Luxembourg Non-Life Insurance - Direct Written Premium by Distribution Channel (%), 2010, 2014 and 2019
Figure 35: Luxembourg - Frequency of Hazards by Type, 1990-2014
Figure 36: Luxembourg - Economic Issues Caused by Hazards by Type, 1990-2014
Figure 37: Luxembourg Non-Life Insurance - Segment Shares (%), 2014
Figure 38: Luxembourg - The Three Pillars of Solvency II
Figure 39: Luxembourg - Insurance Supervision and Control at Various Levels
Figure 40: Luxembourg - Insurance Regulatory Frameworks for Company Registration and Operation

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